Christmas is all about giving, and that’s exactly what BMW’s M division is doing today. It’s dropped a holiday-themed image and video that gives us a tantalising glimpse of the 2025 M5 Touring, a car that’s sure to be one of next year’s hottest debuts. For its Christmas teaser role the super-wagon has thrown off the usual black and white disguise we’ve seen on numerous prototypes and subbed in what looks like festive red and gold wrapping paper. But a closer look reveals the print isn’t your usual generic Christmas paper design, but features M logos.

Though we get an up-close look at the grille and and front bumper air intakes, albeit fleetingly, the rear shots show that this prototype still has some chunky disguise in place on the back bumper and taillights to obscure the finished design. There’s no disguising the trademark quad exhaust setup, though, or the subtle rear spoiler at the trailing edge of the roof.

 

As the video comes to a close the message “The Ultimate, Electrified M Power” is displayed on the screen, confirming that the next M5 will be powered by a hybrid-assisted engine. While its AMG E63 rival, which also debuts next year in sedan and wagon forms, is expected to downsize to a six-cylinder hybrid setup, the M5 will retain eight cylinders, but add an electric motor to push power beyond 700 hp. The slow-selling XM, supposedly BMW M’s flagship vehicle, offers 738 hp and 1,000 Nm in Label Red form, so it’ll be interesting to see if BMW pegs the PHEV M5 back at all to preserve the SUV’s top-dog status. The fast wagon should also cost far less than both the US$ 159,000 XM and US$ 185,000 Label Red, though the price will certainly be into six figures considering the 2023 M5 cost over US$ 110k.

There’ll be a small premium to pay for the wagon body, too, a body style that has only been offered a couple of times before in the M5’s four-decade history, and never in the U.S. American fans still don’t know for sure if the M5 Touring will make it across, or whether they’ll be denied it like they were the M3 Touring, and have to content themselves with the sedan. Either way, we’re unlikely to get an official look at the undisguised M5 wagon until close to Christmas 2024, several months after the sedan makes its debut.