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They really need to get this thing under 3000 lbs to be successful. It would be a testament to their technology and mechanical skills. The only way to achieve this would be having a turbo 4-badger engine. Then to be successful, BMW needs to keep this around $40,000 or less since it is a 4-badger.
The M3 weights more than the 335i because it has a V8 versus a V6 in the 335i. The M3 is a phenomenal car.
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