The BMW 740i was part of the E38 generation (1995-2001) which had the option for either a five-speed automatic or manual transmission. There were different variants in Europe including the 725tds, 728i, 730i, 730d, 735i, 740i (4.0 and 4.4 L), 740d and 750i (with a 5.4 L 322 bhp [240 kW] engine, as was used in the Rolls-Royce Silver Seraph). In the Americas though, the models that were sold were the 740i, 740iL and 750iL.
The 740i and 740iL both shared the same 4.4 L V8 engine, while the 740iL was a long-wheelbase 740i, hence the "L" in its name. The more rare 750iL featured a 5.4 L V12 engine, and was only available in a long-body version. It was BMW's flagship sedan.
When the E38 was first introduced in 1995 to the American market, it had a 4.0L V8 engine and a steel sunroof. By 1996 though, these features were replaced with a 4.4L V8 (producing 282bhp) and a glass sunroof, but the base 740i was not offered in that year. Then, the 740i was reintroduced in 1997 while significant safety upgrades were made for the cars in 1998, including side airbags (standard in front and optional in the rear) and a Head Protection System (HPS).
The car underwent minimal rejuvenation in 1999 with updated headlights, tail lights, and a trunk molding. A sport package was also offered that included bigger wheels, better suspensions, torque converters, and axels. 2000 saw the introduction of protection models while another minor renovation took place in 2001 with clear turn signals and painted lower body.
A performance-enhancing sport package was available in the 740i, known as the 740i Sport. Similarly, a separate sport package was also offered in the 740iL and 750iL models in 2001, which happened to be the last year of production for the E38.
Some features of the 7 Series included high-pressure headlight washers, auto-leveling xenon HID headlamps, power moonroof, a six-CD changer with 14 speakers and four subwoofers, onboard navigation and rain-sensing wipers. Other features included an automatic climate control system with full left/right controls and a 3-position memory system for the driver's seat, safety-belt height, steering wheel and outside mirrors. Front side airbags and a Head Protection System (HPS) were also standard. The car featured an all-leather interior with burl walnut trim. The continuous passive motion "Active" seat technology was introduced in 1998 to improve comfort for the driver and front passenger.
The base prices in 2001 were US$62,900 for the 740i, US$66,900 for the 740iL and US$92,100 for the 750iL. 740iL and 750iL Protection Line light-armored vehicles were built from 2000-01, and cost US$99,100 and US$124,400, respectively. These models included body armor, bullet-resistant glass and run-flat tires.
A limited edition executive V12-powered stretch limousine was also produced, the BMW L7.
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