BMW has just put forward the best argument for not buying an X5 M Competition large SUV

BMW will bring to market a new M5 Touring as a genuine rival to the iconic Audi RS6, but local buyers shouldn't get their hopes up just yet.

That's because the M5 Touring has not been confirmed – or ruled out either – for an Australian arrival just yet, but given the local appetite for BMW's go-fast models, the top-dog, big-booted 5 Series chances are looking good.

In fact, Australia is in the top three markets for M adoption, jockeying for position against the UK, while the US and BMW's home market of Germany lead the way.

And, given the first production M3 Touring landed in local showrooms earlier this year (and has been locked out of the larger US market), the M5 Touring has a good chance of landing Down Under to take the fight to performance wagons like the Audi RS6 and Porsche Taycan Turbo Cross Turismo.

But what can we expect from the M5 Touring?

BMW has released a handful of teaser images so far, showing the car's profile draped under a cloth and the rear end cloaked in camouflage, but expect a fattened up, more aggressive-looking 5 Series when all is revealed.

But what can we expect from the M5 Touring?

BMW calls it "the perfect symbiosis of M-typical performance, uncompromising long-distance comfort and impressive spaciousness will experience a renaissance in 2024 with the new BMW M5 Touring".

Powering the new-generation M5 is "a completely newly developed partially electrified drive system", according to the brand, which is expected to build upon the XM electrified performance model.

As a reminder, the XM features an electrified 4.4-litre twin-turbo petrol V8 for a combined output of 480kW/800Nm – outpunching the outgoing 467kW/750Nm M5 CS's non-hybrid version of the same petrol engine.

Of course, it wouldn't be a new-generation model if BMW didn't move things forward, so expect outputs to surpass the old M5 and beat its 0-100km/h acceleration time of 3.3 seconds.

Keep in mind BMW will also be continuing with the M5 sedan.

Likewise, M5 staples such as an xDrive all-wheel-drive system, carbon ceramic brakes, quad-exhaust pipes, a plush interior, adaptive suspension and a pricetag in the ballpark of $250,000 are all expected in the new model.

Keep in mind BMW will also be continuing with the M5 sedan, so wagon haters will still have an option for a large, comfortable and fast German performance model.

BMW has confirmed the model will launch next year while it is currently undergoing testing in Munich, Germany.