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From 1977 to 1995, the 928 used a single V8, the M28, whose displacement grew from 4.474 L to 5.397 L on the GTS. The table details six evolutions, from 240 to 350 hp. The Bosch K-Jetronic injection of the early versions gave way to LH-Jetronic, and the S4 adopted four valves per cylinder (32 in total). The camshafts are driven by a toothed belt. As every version shares the M28 code, rely on displacement and period to identify your engine.
| Version | Period | Engine code | Displacement (L) | Power (hp) | Fuel | Carburettor / Injection | Cylinders / Valves | Timing drive | Torque (Nm) | Remarks |
|---|---|---|---|---|---|---|---|---|---|---|
| 928 | 1977–1982 | M28 | 4.474 | 240 | Petrol | Bosch K-Jetronic injection | V8 / 16 | Belt | 350 @ 3600 | |
| 928 S | 1979–1983 | M28 | 4.664 | 300 | Petrol | Bosch K-Jetronic injection | V8 / 16 | Belt | 385 @ 4500 | |
| 928 S | 1983–1986 | M28 | 4.664 | 310 | Petrol | Bosch LH-Jetronic injection | V8 / 16 | Belt | 400 @ 4100 | S2 |
| 928 S4 | 1986–1991 | M28 | 4.957 | 320 | Petrol | Bosch LH-Jetronic injection | V8 / 32 | Belt | 430 @ 3000 | 4 valves per cylinder; toothed belt, chain between the two camshafts |
| 928 GT | 1989–1991 | M28 | 4.957 | 330 | Petrol | Bosch LH-Jetronic injection | V8 / 32 | Belt | 430 @ 4100 | |
| 928 GTS | 1992–1995 | M28 | 5.397 | 350 | Petrol | Bosch LH-Jetronic injection | V8 / 32 | Belt | 500 @ 4250 | 5.4 L towards the end of production |
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