Description
An E46 GTR came to life in February 2001, powered by the P60B40 a 3,997 cc V8 producing 493 hp (368 kW; 500 PS). Unlike the straight-six powered M3 versions, the racing version of the E46 M3 GTR, entered by Schnitzer Motorsport, was very successful in the American Le Mans Series (ALMS) with BMW factory driver Jörg Müller securing the 2001 GT title.

Rivals such as Porsche pointed out that this car was more of a prototype as no V8 engine was available in the road-going BMW E46. To fulfill ALMS regulations, BMW put 10 road going GTRs on sale after the 2001 season.

The ALMS rules were altered for 2002, and although BMW could have raced the V8 with new penalties, they chose to pull out of the ALMS. Two Schnitzer Motorsport M3 GTR cars saw a comeback in 2003 at the 24 Hours Nürburgring, winning 1–2 in 2004 and 2005, as well as entries in the 24 Hours Spa.

Private teams also fit 3,997 cc BMW V8 engines into the E46 body to race on the Nürburgring. In November 2003, Australian race team Prancing Horse Racing Scuderia imported an E36 M3 GTR to race in the Bathurst 24 Hour race at the Mount Panorama Circuit.

The M3 GTR is widely known as the player's car in Need for Speed: Most Wanted and Carbon with a royal blue livery.

Credits
Assetto Garage