Following on from the very successful 635CSi coupe, in 1986 BMW released their M3 coupe as a homologation model for worldwide touring car racing. Making their local debut in 1987, the E30 model M3 in the hands of Jim Richards took out the Australian Touring Car Championship that year, winning four of the nine championship rounds.

In 1988, the factory BMW effort would be with a new sponsor, Mobil, and a new driver added to the team, Peter Brock, following his parting with Holden in 1987. Richards and Brock would be the best placed non-Sierra drivers in the ATCC that year. Brock would soon join the ranks of the Sierra drivers and Jim Richards would move to Nissan.

The M3 on display was one of the team’s cars for the 1988 ATCC season, and in the hands of Peter Brock and Jim Richards won the 1988 Pepsi 250 on 28 August, Brock’s only race win in a BMW.