BMW is a German automobile and motorcycle manufacturing company. The BMW 7 series was started in 1977 to phase out the company's New Six series. The 7 series is divided into four generations: E23, E32, E38 and E65/E66. The 2001 BMW 740il falls under the E38 category.

The BMW 740il is powered by a 4.4liter V8 engine which produces 282 horsepower and 324-pounds'feet of torque. The automatic transmission engine can reach 0-60 mph in just six seconds, and achieve a top speed of 129 mph. Moreover, a standard Dynamic Stability Control program was added to the car's computerized electronics, enabling the driver to keep the car under better control. The front suspensions used a double-pivot strut type layout. The multilink rear suspensions used a four-link design and twin-tube gas pressurized shock absorbers on both ends. The brakes were supported by ventilated front and rear discs and an anti-lock braking system.

The 7 series had lengthy rear doors, while the IL model had an extended wheel base. The car had 16-inch Cross Spoke alloy wheels, while the Sports model had 18-inch Parallel Spoke wheels. The car seats were covered by Montana leather upholstery and also incorporated Active Comfort seats with massage features. The windows and sunroof could be operated at the push of a button. The BMW 740il used an emergency alerting system that could help locate it via the global positioning satellite system. Additionally, the car had automatic climate control, keyless remote, a microfilter ventilation system and 14-speaker stereo. All these features made it swift, powerful, and safe to drive. The E38 series was followed by the E65/E66, from 2002 onward.