BMW introduced the 535i variant of their E39 5 Series for the 1997 model year. The E39 535i was initially powered by BMW's 232hp M62B35 V8 engine, but in 1998 this engine received a technical update, which increased power to 241hp. Both manual and automatic transmissions were offered for this series of rear wheel drive cars, as well as sedan or touring wagon body styles. Production of the E39 535i ended in 2003, but the 535i would continue life in the next generation of 5 Series, as the E60 535i.