What I have:
- current M3 production ends this Summer
- this year is the 20th anniversary of M3, therefore BMW are eager to show Concept M3 on forthcoming auto shows
- since show & promo cars are already in preparation, Concept might be shown in Geneva
- I was told cars in preperation were Coupes
- M3 sedan will come after M3 coupe. If.
- we could witness M3 launch (Europe) even in this year (very end), but in early 2007 for sure
Mind M engines are hand made - the production is very limited. That's why M5 Touring and M6 Cabrio are still not for sale although being ready for production: BMW can't made enough V10 M engines to meet a demand. Building an inventory is going slower than planned. When the inventory is built, they can launch M5 Touring & M6 Cabrio.
I guess it will be the same case with M3. Other variants (sedan, Touring) will depend on M3 Coupe & Cabrio demand.