The 5 Series got its name by being the fifth of the "new series" cars after the V-8 and Isetta era. The preceding models were the 700, the "New Class" 1500/1600/1800/1602/2002/1502, the "New Six" 2500/2800/Bavaria and the CS. The 5 Series was intended to replace the smaller New Class sedans, leaving the coupes as the company's low-end model.
The body was styled by Marcello Gandini, who also did the Fiat 132 and Alfa Romeo Alfetta, two other cars that have a very similar design.
There have been five generations of the 5 Series to date. To differentiate between them, they are referred to by their unique chassis numbers (EXX).
The 5 Series began the BMW tradition of being named with a three-digit number. The first digit (5 in this case) represents the model, and the following two digits (usually) represent the size of the engine in decilitres, which is the main distinguishing difference. Additional letters or words may be added to the end of the three-digit number to define the fuel type (petrol or diesel), engine or transmission details, and the body style. The 'i' originally stood for (fuel) 'injection'.
The 530i has the M54B30 engine. The M54B30 is a 3.0 L (2979 cc) update of the 2.8 L BMW M52. Bore remains the same at 84 mm, but stroke is increased 5.6 mm to 89.6 mm. Power is 231 hp (170 kW) while torque is 221 ft.lbf (300 Nm).
It is an all-aluminum engine (block and DOHC heads) with cast iron cylinder liners. It uses SFI fuel injection, has 4 valves per cylinder with VVT and features fracture-split forged steel connecting rods, a one-piece cast camshaft, and reinforced plastic intake manifold. It is produced in Steyr, Austria.
The M54B30 was on the Ward's 10 Best Engines list for 2001 through 2003. (edit this text)