E36 M3 GT

With the introduction of the E36 M3 in 1992, some enthusiasts criticized the car for getting soft, losing the homologation DNA of the outgoing E30. However, there was no way that BMW was going to stop racing; it was just waiting a few years to show off the next homologation road car. Debuting in 1994, the M3 GT was built to allow competition in both the FIA-GT class and IMSA GT, and unlike the E30 M3 with its 5,000+ car production run, only 356 total M3 GTs were produced. All of those 356 were painted in the same “British Racing Green” paint and included a deeper, adjustable front splitter and rear decklid spoiler that was larger than you would find on a standard M3 and 66 lbs of weight reduction. Lightweight Motorsport wheels were fitted with a staggered 7.5x17” front fitment and 8.5X17” rear and will be familiar to anybody who knows the American analog to this car, the M3 Lightweight. Under the hood, the Euro-spec S50B30 received upgraded cams and a higher compression ratio that bumped power to 295 hp at 7,100 rpm. With a top speed in excess of 170 mph, this was the fastest M3 to have come out of BMW to this point, as well as one of the rarest.

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E46 M3 CSL

The letters CSL will be familiar to any enthusiast of vintage BMW. Standing for Coupe Sport Lightweight, these first appeared on a homologation variant of the striking E9 3.0 coupe in the early 1970s. With an emphasis on weight savings and an outrageous for the era aerodynamic package, the 3.0 CSL is one of the most sought-after classic BMWs, and the E46 that shares its name is becoming quite collectible in its own right.

Debuting in 2004, the E46 M3 CSL shaved a remarkable 243 lbs out of the standard M3, largely coming from a carbon roof panel and numerous panels made of carbon and glass-reinforced plastic. The sound deadening was stripped out, as were the navigation, power seats, stereo, and rear seats. Like the 3.0 CSL before it, the M3 CSL received an aero package with a carbon fiber front splitter, carbon rear diffuser, and a molded-in decklid spoiler, which, when combined, made for a 50% improvement in downforce at speed. Under the car, a quicker steering rack was added, along with stiffer springs and shocks and an “M Track Mode” that relaxed stability and traction control intervention. Although power was only up by 17 horsepower and 4 lb-ft of torque, a freer flowing exhaust, and carbon fiber air box gave the distinctive sounding S54 some serious bark and a uniquely aggressive tone that was missing before. The only gearbox available in the CSL was BMW’s 6-speed SMG II automated manual, with revised software that allowed shift times of just 80 milliseconds. With the rapidly increasing collectibility of more “ordinary” E46 M3s, it should be no surprise that values on the 1,383 CSLs have been shooting up in recent years, with most examples commanding over $100,000.

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E92 M3 GTS

Out of all the “special” M3 variants, it’s hard to think there are any more bespoke than the E92 GTS. With just 135 examples produced in 2010, the M3 GTS was built as a club racing car that could also be used on the street. Think of this as BMW’s GT3 RS for the E92 generation. All of the GTSs were painted Fire Orange, a color that we typically associate with the Lime Rock Park Edition M3 in America, but the GTS offers so much more than that car. With more than 300 lbs removed, weight reduction came via no rear seats (with a color-matched half cage in their place) along with simplified door cards, center console trim, and polycarbonate used for the rear windows. The suspension has significantly improved adjustability, brake size has been increased and a rigidly mounted rear axle was installed to really put the power down.

Speaking of power, what sets the GTS apart from the other M3s featured here is the engine. Of course, it is still fitted with BMW’s legendary S65 V8, but now it has a stroker crankshaft, meaning displacement has been enlarged from 4.0 liters to 4.4. This comes with a power increase to 444 horsepower, which is sent to the rear wheels via a mandatory 7-speed DCT gearbox. With the weight reduction and additional power, 0-60 has been shaved to just 4.4 seconds and a top speed in excess of 190 mph. Turn the M3 GTS on, and you can immediately tell that this is no ordinary M3, with the engine’s tone turning from a high-pitched shriek to a more low, guttural growl. The E92 M3 GTS is not just the most altered M3 on this list but far and away the rarest.