Company car owners take note - BMW is about to launch a plug-in hybrid version of its all-new 5 Series saloon.
Thanks to lower CO2 emissions, better fuel economy, and an all-electric range, plug-in hybrids fall into a much lower Benefit in Kind (BIK) tax bracket compared with traditionally-fuelled vehicles. The savings for business lease customers can be huge.
And because this new plug-in hybrid (PHEV) BMW 5 Series has an electric range of up to 62 miles, you’re looking at a BIK rate of just 8% until the 2025/26 financial year.
The updated 5 Series was relaunched in May this year. This new PHEV joins the range alongside mild-hybrid models and the all-electric BMW i5.
There are two versions up for grabs - the rear-wheel drive 530e saloon and the all-wheel drive 550e xDrive saloon.
The 530e gets power of 299 hp and 450 Nm of torque and can accelerate from 0-62 mph in 6.3 seconds. The electric range here is up to 62 miles while BMW reckons fuel economy can reach as high as 470 miles per gallon - a figure that’s very much dependent on driving conditions and on you always having a fully-charged battery.
The 550e xDrive gets more oomph - at 489 hp and 700 Nm of torque - and can sprint from 0-62 mph in 4.3 seconds. The extra power on tap with the 550e xDrive means the electric range drops slightly down to a max of 56 miles.
BMW says unique aerodynamic improvements, as well as sophisticated regenerative braking, have led to the eye-catching electric range figures.
A BMW spokesperson tells us: “Longer commutes are therefore also possible without producing any local emissions. Both plug-in hybrid models also owe their excellent electric range to their aerodynamic properties. As in all other variants of the new BMW 5 Series Sedan, special panelling and air deflection elements contribute to an optimised underbody structure that minimises air resistance.”
The good news just keeps on coming.
Thanks to some clever engineering, you only lose 10 litres of boot space in the plug-in hybrid 5 Series compared with the regular 5 Series, so you’re left with a decent 520 litres.
When it comes to charging, a 7.4 kW plug-in will take the battery from zero to 100 per cent in 3 hours and 15 minutes. Connect it via a household socket and the same charge will take 11 hours and 45 minutes.
The plug-in hybrid BMW 5 Series also gets extra kit compared with its conventionally-powered siblings, including 19-inch alloys.
The 550e xDrive also comes as standard with BMW’s ‘Adaptive Chassis Professional’ system, which includes electronically controlled shock absorbers, a lowered suspension, and more agile steering.
The BMW 5 Series plug-in hybrid will join the leasing market in November 2023.
And in the meantime, you can lease the traditionally-fuelled BMW 5 Series with Select Car Leasing from £613 per month*.
*Prices include VAT. Credit is Subject to Status, Ts and Cs and Arrangement Fees apply. Excess mileage may apply. Stock levels and prices correct as of 28/09/23.
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