Did You know that?:Total of 340,242 E38s were produced! The BMW E38 model was the basis for the 1995 through 2001 BMW 7 Series automobiles. In early 1988, development began on the third generation 7-series codenamed “Entwicklung 99”. From 1989 to 1991 styling work was done, when Boyke Boyer’s concept design was chosen and further refined into production form with engineers until 1992. In August 1992, the final production design for the new 7-series was approved by the board for production. On April 27, 1993 German design patents were filed featuring a pre-production prototype as a design representation. Patents were later filed on October 27, 1993 in the United States. In early 1994, development concluded and in May 1994, the 1995 E38 BMW 7-Series was unveiled. Production started on February 17, 1994 on pilot production variants, with series production commencing in the second half of the year. 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. Features of the E38 7 Series included high-pressure headlight washers, auto-leveling xenon HID headlamps, power moonroof, a sound system with 14 speakers and four subwoofers as well as 6-disc CD changer, onboard satellite navigation and rain-sensing wipers. Other features included an automatic climate control system with separate controls for the driver and passenger, a three-position memory system for the driver’s seat, safety-belt height, new steering wheel and outside mirrors. Front-seat side airbags and a Head Protection System (HPS) were also standard. When the E38 was phased out in 2001 to make way for the new E65, sales of E38s increased noticeably in the car’s final months of sales as people moved to buy the car before it was replaced for the 2002 model year.