The camouflage has made way for festive wrapping paper.

With the holidays right around the corner, BMW M took to Instagram to tease the new M5 Touring in front of the Christmas tree. The high-performance wagon ditches its previous camo for wrapping paper and a big gold bow instead. A festive video is also coming out today on YouTube.

The BMW M5 Touring is one of the rarest cars the M division has ever built. The E34 was assembled in only 891 units whereas the E61 was limited to 1,025 units. Both were pretty special as the former came at a time when sports wagons were a rarity while the latter had a V10 engine with Formula 1 DNA. The G99 won’t be nearly as exclusive but it’s also going to be an interesting car by portraying a V8 wagon in the age of downsizing and SUVs.

Unlike its predecessor, next year’s M5 Touring has a good chance of making it to the United States, if reports are to be believed. In addition, BMW M surely wants to lure customers that would otherwise buy an Audi RS6 Avant or a Mercedes-AMG E63 Estate.

The M5 Sedan (G90) together with its wagon counterpart will be the only 5 Series models to keep the V8. Under the hood, BMW M is installing a twin-turbo 4.4-liter engine. However, the eight-cylinder mill won’t be all alone since it’s going to join forces with an electric motor. The plug-in hybrid setup is estimated to push out a combined 700+ horsepower, more than the standard XM but less than the XM Label.

Considering BMW has yet to reveal the regular 5 Series Touring, the hot M variant is unlikely to debut anytime soon. The standard wagon will premiere early in 2024 together with the fully electric i5 (including i5 M60) whereas the M5 Touring is going to break cover later in the year.

Prepare to pay a not-so-small fortune since the speedy estate is going to cost well over $100,000. The previous-generation M5 Sedan started at $107,900 for the 2023 model year, and the new one is definitely going to be more expensive.