Why BMW's art cars need a new set of wheels

Cars have inspired many modern artists, and still do. The American sculptor Ed Kienholz created a seedy tableau of automotive life in his installation Back Seat Dodge. The British artist Richard Hamilton painted a "homage" to Chrysler. In his film Cremaster 3, Matthew Barney stages a demolition derby in the lobby of the Chrysler Building. And Jeremy Deller toured a car blown up in Iraq across America before exhibiting it at the Imperial War Museum.

I could go on listing the interesting things artists have done with cars – what about Salvador Dali's rain-filled taxi – but instead, let's turn to something very boring thar artists have done with them.

This month as part of the London 2012 festival, and with the involvement of the ICA, the complete BMW art car collection goes on view in east London. It is just as corporate as it sounds. BMW has commissioned famous artists to decorate cars since the 1970s. Among the first artists to paint BMWs were Roy Lichtenstein, Frank Stella and (naturally) Andy Warhol.

All the artists were established, and all were arguably past their best. Anyway, the fact that they painted BMWs is not a major aspect of their artistic lives. The big problem with BMW art cars, as an artistic venture, is that BMW only invites renowned, A-list artists, and appears to see their cars as monumental works for the ages. The whole thing would look very different if more, younger, artists were invited and allowed to do what they want, including total destruction of the car.

As it is, two recent cars created by Olafur Eliasson and Jeff Koons are among the most imaginative in the series. Eliasson crafted a surreal ice-car, and the Koons car radiates coloured spikes like a revved-up hedgehog.

I am not saying boys will not get a kick out of these high-art hot rods. If custom cars are your thing there are certainly some good ideas here for pimping up your ride. They remind me of a pack of Top Trumps. Frank Stella: art historical significance 9, art market performance 7, critical standing 8 ...

These cars were recently shown in the mall of Grand Central Station in New York. That's basically what this is, a mall event. The BMW cars belong in a history of art and business: in 1975 this was a daring project that pioneered the commercialisation of art. It seems utterly at odds with the concerns of today. These cars are dinosaurs. They need livening up. How about a demolition derby?