This is the BMW E46 M3 Touring (Wagon) Concept that never was
The E46 M3 is a spectacular M vehicle and arguably the best six-cylinder M3 produced by BMW. The 3.2 liter S54 I6 iron block motor is well known for its raspy scream to 8000 rpm along with its razor sharp throttle response. What could possibly be done to make the E46 M3 better?
Well, offer it as a wagon. BMW thought about it but ultimately decided against it. A bit of a shame as a fairly lightweight performance wagon with a manual transmission may offer that bit of practically that could convince a wife that this is actually a family car.
BMW came painfully close to doing it:
Originally Posted by BMW M