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I really think there will be one, but not with the E82. With the 135i being released, I believe there will be an S3 and possibly RS3 in the states, forcing BMW to build the M1. We are talking 5 years from now, or so.
They left little room for making the M1 cost effective, or saleable compared to the 135i. Granted, there are weight penalties to the 135i, it's not suspended like a true M car, and it lacks a locking differential, but it goes and stops like one. The brakes on the 135i are ground breaking for BMW, and I would hope they trickle up to the 335i, and existing M cars in the near future.
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