BMW is now reportedly in the process of deciding on its third BMW i model after the i3 and i8.
It's expected that the new model will be called i5 and will be introduced in 2016, but everything, including the type of the car, is still to be decided at this point in time.
According to Autocar, BMW is considering a longer i3 "almost a mini-MPV" and/or "a saloon that could rival Tesla’s forthcoming Model 3".
Separate to this news is that i8 is considered a retail success (several thousand sold), while i3 demand isn't strong enough to be called the same (despite a 60% sales increase in 2015). A more traditional/functional i5 might be just want the i brand needs.
"Robertson also admitted that the i3’s modest sales figures are being governed by demand, rather than the industrialisation and production issues that troubled the vehicle at the start of its life. “We see lots of outside factors involved,” he said, “including range anxiety, incentives in some countries but not in others, and the price of fuel . But sales of the i3 are up 60% year on year and it’s the third best-selling EV in the world. We’re convinced the i steps have been right.”
"The i8 sports car is considered more of a retail success than its smaller brother, with a healthy waiting list of orders."