# 2001-2002 BMW Z3 M Coupe S54 The Z3 M Coupe, affectionately nicknamed the "clownshoe" for its distinctive shooting-brake silhouette, represents a cult classic among BMW enthusiasts. Powered by the legendary S54 inline-six from the E46 M3—producing 315 horsepower—it's notably stiffer and more planted than its roadster sibling. Reviewers praise its raw driving dynamics, linear power delivery, and surprisingly practical hatchback utility. The quirky styling that once polarized opinions now commands devoted following and appreciating values. Famous for being one of BMW's rarest M cars and representing the last naturally-aspirated, hydraulic-steering M experience. With only 690 U.S. examples produced, it's become highly collectible. Best suited for driving purists and collectors seeking weekend backroad thrills with surprising cargo space. Values have climbed significantly, making them investment-grade modern classics rather than daily drivers.
The S54-powered Z3 M Coupe requires expensive maintenance including VANOS rebuilds ($1,500-2,000), rod bearing replacements ($3,000-4,000 preventatively), and frequent cooling system overhauls. Rear subframe cracking is common, requiring reinforcement ($1,000+). Parts are pricey, but the S54 engine is generally reliable when properly maintained. Insurance costs are moderate for a performance car.
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