BMW is expected to unveil the all-new Z4 on August 23rd and it appears the company doesn’t have plans for a high-performance M variant.

Speaking with Car and Driver, BMW M boss Frank van Meel said “I think the M40i is the perfect positioning regarding performance of that car” and “It’s quite close to the M2.” However, he went on to say “If you would go any higher, it would be very, very narrow in customer groups.”

In essence, van Meel is saying the Z4 M40i offers plenty of performance and there’s probably not enough demand to justify building a Z4 M. The news is unfortunate, but not very surprising as the previous-generation Z4 also eschewed an M variant.

While van Meel didn’t elaborate, a quick look at Z4 sales paints a pretty revealing picture. According to Carsalebase, BMW only sold 3,518 Z4s in the United States between 2015 and 2017. The situation was significantly better in Europe, where buyers snapped up 4,093 Z4s in 2015 alone. Given the relatively low demand, it’s not surprisingly that BMW isn’t rushing to develop a Z4 M.

Since a Z4 M appears out of the question, the range-topping model will apparently be the Z4 M40i which was teased last month. BMW hasn’t released performance specifications, but reports have suggested the car will use a twin-turbo 3.0-liter six-cylinder engine that produces around 385 PS (283 kW / 380 hp).

Regardless of the final number, BMW has confirmed the M40i will have a lowered sports suspension with electronically controlled dampers. The car will also be outfitted with a new front axle, a high-performance braking system, a locking rear differential and lightweight wheels – among other things.