The Test
We pitted an E23 1983 735i against its equivalent, the E65 2002 735i. We compared on two grounds, fuel efficiency in the country, namely highway-like continuous driving (at a constant speed) and fuel economy in the city (constantly stopping and starting, turning, accelerating and decelerating).
The Results
On the first graph, we measured fuel consumption in conditions of continuous driving much like those encountered while assailing rural-type distances. The older 735i (E23) drank 8.5 litres for every 100km, while the newer 2002 edition 735i consumed just less, burning up 8.2 litres for every 100km.
In the city, the E23 won a decisive victory, while lugging around no doubt a heavier body with an older engine, it still pulled up on top for efficiency. The 20-year-old 735i required 14 litres for 100km of urban driving, while it's E65 counterpart drank a litre more, at 15 for the century kilometre mark.
The Conclusion
It would not be prudent to claim the older vehicle more fuel efficient than the latest BMW 735i. The E65 while outfitted with no doubt a lighter, more weight efficient body is also the recipient of a larger engine with higher fuel requirements than that of the 1983 735i. The 2002 E65 735i's V8 engine- obviously with eight cylinders is a heavier, more fuel consuming beast than the M30 in-line six which propels the E23 challenger.