1987 735i loss of power

Yesterday, I was driving in a heavy downpour, going through standing water, and the car almost shut down. As of right now, it is running terrible. It has little power, and when I hit the accelerator, it bogs down and shutters rarely going over 45 mph. There is a slight exhaust odor coming into the cabin.
Before that, it was running great.
any idea what is the problem

How big a puddle of water?

It maybe water splashed onto some of the electronics and ignitions system.
Bogging down under acceleration is good sign of weak spark, so it maybe the coil, dizzy or ignition leads got wet.


You need to open the hood and get side and check everything is in place and nice and dry.
If you see an moisture around the ignition leads etc, then dry them off.