BMW X5 M spied again, this time doing rounds around Munich

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We have been bringing you spy shots of the X5 M prototypes since last summer, over time the cars lose more and more disguise and now seem to be almost production ready.

This time we can take a better look a the quad exhaust tips, lightly covered side vents and larger air-intakes up front. X5 M will have over 500 hp and the question still remains where will the power come from.

Most likely from a 4.4-liter twin-turbocharger V8 engine, but some rumors suggest the 5.0-liter V10 engine. Soon after the launch X6 M version would follow with the same engine.

Both X5 M and X6 M should have no problem competing with Cayenne Turbo and ML63 AMG. The question is though, how big is the market for such cars today when the car sales are dropping globally and high-end vehicles are harder to sell than few years ago.

We expect BMW to unveil X5 M already at the Geneva Motor Show this March.