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I met with the M Brand Manager two weeks ago. Here are a couple notes from out conversation (sorry if this is old news):
-The hood is aluminum
-He is not sure there is a market for an F-1 style clutchless manual like Ferrari's. He said they are not smooth enough to satisfy people who want automatics. Sounds like they are hesitant to produce 3 different tranny options (standard, sequential, auto).
-He told me they will be setting the car up so the 0-60 times are not faster than the M5.
-The car should be available for European delivery (purchased in USA) unlike the M5. Sounds like they are trying to limit M5 production and are more willing to saturate the market with M3's.
On a humorus note, he told me their test driver was on the Nurburgring in an X5 trying to keep up with a 911 and doing pretty well (says more about the drivers than the cars).