The bmw e46 m3 gtr came to life in february 2001 and was the first m3 in the history of the company to feature a v8 engine. The resulting e46 gtr racing car was introduced in february 2001 and was powered by a 330 kw 443 hp version of the p60b40 3997 cc 40 l v8 engine. Why The Bmw M3 Gtr Is Awesome Youtube Due to bmw wanting to utilise this new v8 race engine at le mans bmw had to produce 10 bmw e46 m3 gtrs for sale to the public.