BMW introduced the second generation of the M3 in 1992 but waited for another two years before unveiling the open-top version for it.
The German carmaker introduced the third generation of the 3 Series in 1990, and its fanbase waited for the M3 version for another two years. Unlike its predecessor, who sported an inline-four, the E36 M3 boasted a six-cylinder powerplant. Although the open-top version of the regular 3 Series appeared in 1993, the carmaker waited for 1994 to unveil the M3 convertible.
Sharing its front fascia with the M3 Coupe, the Convertible version featured a lower air-dam that featured a center air-intake flanked by the rectangular foglights mounted on the sides, on separate clusters. On the sides, the carmaker added the M-specific aerodynamic package that showed sculptured side skirts profiled to lower the drag. At the back, BMW installed a black diffuser under the rear bumper and placed the dual exhaust on the left side of the car. Unlike the E30 M3 Convertible, which looked radical compared to the regular E30 Convertible, the E36 was more subtle.
Inside, the car was fitted with a pair of high-bolstered bucket seats at the front, separated by the transmission tunnel and the gearbox. The curved dashboard featured an instrument cluster similar to the one installed on the lower-spec 3 Series versions. At the back, the carmaker installed a bench fit for two, and it even underlined that by offering just two headrests.
Under the hood, the 3.2-liter inline-six was paired to a five-speed manual, but that was changed starting with the 1995 model-year when BMW introduced a heavily modified facelift for the E36.