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Modified BMW E34 Touring with M5 Engine Swap and Air Suspension

Home > BMW > Modified BMW E34 Touring with M5 Engine Swap and Air Suspension
Stanced BMW E34 Touring with M5 Engine Swap and Air Suspension

By

Matt Grabli
March 2, 2025

BMW 5-Series E34 is hands-down one of the most iconic BMW models of the late 80s – early 2000s. With its incredibly balanced shape and sophisticated design, it became the quintessence of BMW styling that is appreciated by car people around the world.

While sedan was the most popular body style of the E34, Touring models were not as widespread even in Europe, although they had that unique wagon vibe that made them really special.

Stanced BMW M5 E34 Touring with BBS rims

Table of Contents

Toggle
  • E34 Touring Build
    • Engine
    • Exterior
    • Wheels & Suspension
    • Interior
  • List of Modifications
  • Conclusion

E34 Touring Build

This beautiful stanced BMW 5-Series E34 Touring is owned and modified by Kiyoto Furuyama from Japan. Despite the clean OEM+ look of the car, it has a lot of stylish and functional upgrades.

Stanced BMW M5 Wagon E34 Touring on air suspension

Slammed BMW M5 E34 Touring on BBS RS rims

Engine

The car started life as a base 540i, but was later converted into a real M5. The original engine was swapped with an iconic S38B38 M5 3.8L inline 6-cylinder motor that produces pretty decent performance of 340HP, which makes this wagon feel light and nimble.

E34 M5 S38B38 3.8L inline 6-cylinder motor

BMW M5 E34 3.8L inline 6-cylinder motor S38B38

Exterior

Like any real M5 it features the M bumpers all around. The optics were swapped with American-style amber turn signal, reflectors, and red tail lights. Black pinstriping inspired by Alpina graphics, and a glance grey paint make the wagon look even more period-correct, although the carbon fiber hood and low flushed-to-the-ground stance give it a trendy modern touch.

Bagged BMW E34 Touring on 18" BBS RS rims

Wheels & Suspension

The station wagon sits low on Air Lift air suspension and a set of staggered 18” BBS RS rims with step lips that proved to be the best wheel choice for the BMW E34. Interesting fact, the original modular BBS RS rims came in the 16” and were converted to 18” with a help of new step lip outer barrel.

Custom 16" BBS RS rims with polished 18” outer rings

Interior

The interior is mostly OEM, refinished with light-grey Alcantara on the steering wheel, dash, and door panels. The anatomic seats are boasting the Recaro name and awesome-looking seat belts in contrasting red color.

BMW E34 with Renown steering wheel in grey alecantara leather

BMW E34 Recaro seats in light grey alecantara leather with red seat belts

List of Modifications

Engine

  • 3.8L l6 M5 Engine Swap (capable of 340HP)

Suspension

  • Air Lift air suspension

Rims

  • Custom 16″ BBS RS rims with polished 18” outer rings

Exterior

  • Complete M5 body conversion (front/rear bumpers, side skirts)
  • Carbon fiber hood
  • American-spec amber turn signals
  • American-spec red tail lights
  • American-spec side reflectors
  • Custom glance grey paint
  • Black Alpina-inspired pinstriping
  • M5-style mirror caps

Interior

  • Reupholstered interior
  • Recaro seats
  • Renown steering wheel
Dropped BMW E34 front end with amber turn signals and black smoke headlights

Slammed grey BMW E34 Touring with Airlift air suspension

Conclusion

This E34 Touring build represents a masterful blend of classic BMW engineering and modern modifications. By combining the legendary S38B38 M5 engine with the Touring wagon body style, Kiyoto Furuyama has created a unique vehicle, that would have been a cool addition to the BMW’s model line up of the 90s.

The attention to detail – from the custom-sized BBS RS wheels to the Alcantara interior refinements – demonstrates a thoughtful approach to modification that enhances rather than overshadows the E34’s iconic design.

Parts CategoryDifficulty Rating*
Suspension Mods:8/10
Performance Mods:10/10
Exterior Mods:8/10
Interior Mods:6/10

* Based on our build difficulty evaluation system ⓘ

The E34 Touring build demonstrates the most extensive modifications in the exterior category, featuring a complete M5 body conversion complemented by period-correct lighting upgrades and carbon fiber additions.

In terms of scoring, the suspension setup leads with 8 points thanks to its comprehensive Air Lift system, while the performance category nets 10 points for the S38B38 engine swap, and the interior scores 6 points highlighted by the full Alcantara reupholstery.

Watch the progress and find out more about this E34 BMW M5 project by visiting the Instagram profile of the owner: @kiyoto_e34s38!

Photography by Ryo Kato @ryo_photograph0105

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Matt Grabli Avatar
Matt Grabli
With more than 10 years of experience as a mechanic and aftermarket performance parts specialist, Matt is specialized in vehicle modifications of any sort. He appreciates the motorsports heritage and keeps his hand on the pulse of modern trends. His life goals are documenting the diversity of the modern automotive culture and inspiring others to build the cars of their dreams! Connect with Matt on: FB, Pinterest, LinkedIn

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