BMW will later this month launch a special limited edition version of its high performance M3 coupe and convertible models.

Named the M3 500, there will be just 500 cars available - coupe and convertible combined - available in patriotic colours of Imola Red, Mineral White or Santorini Blue, and each car will feature an edition designation laser cut into the trim inlay on the dashboard.

 Mechanically the limited edition 500 is unchanged from the M3, using the same 420bhp V8 engine plus M-specific chassis with either six-speed manual or seven-speed M DCT transmission.

Exterior styling sees the characteristic M-car kidney grille surround, side gills and twin double exhaust pipes finished in dark chrome plus a high-gloss Shadowline trim and 19-inch black light-alloy wheels.

Every car comes in leather upholstery with contrast stitching on the sports seats and door panels, and complements the exterior colour of the car, while the cockpit has a piano black interior trim.

Beemer fans will also get more than £4,000 worth of additional equipment included for only £1,000 on top of the standard M3 coupe and convertible list price - so the 500 coupe costs from £55,690 and the convertible from £59,785.

The M3 is capable of reaching 62mph from zero in 4.6 seconds and on to a limited top speed of 155mph. Combined fuel consumption is 25.2mpg.