Known as the ultimate sub-M3 model of the E30 generation, this rare 1988 BMW 320is is currently being auctioned online.

Back in the late 80s, Italy and Portugal had imposed a large luxury tax on cars with engines over 2 liters, penalizing models like the 325i and M3. BMW addressed the problem by offering a 2.0-litre version of the M3’s S14 engine and the Getrag dog-leg manual gearbox in the regular body of the 3-Series, creating one of the coolest sleepers ever.

The de-stroked S14 produces a very healthy 192hp in a car that weighs 109kg (242lbs) less than the 195hp E30 M3. The car you see here was sourced from Italy and since coming to the US, it has covered only 3,000 miles with a total of 89,000 miles on the clock.

Everything is stock on it, apart from a set of performance springs and upgraded engine and transmission mount. The cabin is pretty much the same with the other E30s, apart from the driver’s gauges that came straight from the M3 featuring an oil temperature gauge in the place of the standard fuel economy gauge.

BMW made 3,745 E30 320is models, with 2,540 of them being coupes and the remaining 1,205 four-doors between September 1987 and November 1990.

This is the only other E30 that came with a proper M powertrain from the factory and given the stratospheric prices original M3s command these days, the 320is is probably the best alternative for fans of this generation.

The auction is live now over at Bring A Trailer with the current bidding at $9000 but there is still plenty of time left for the price to go up…

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