In order to homologate the M3 GTR for racing, a road version was developed during calendar year 2001 and shown for the first time at the season ending ALMS Petit Le Mans race. BMW produced 10 development units of which 3 were production ready display cars. For homologation purposes, the M3 GTR needed to be offered for sale to the general public and by Petit Le Mans 2001, the car was ready. The M3 GTR was to be priced at €250,000. When ALMS changed the homologation rules at the end of the 2001 season, the road version project was stopped. All 7 development prototypes were recycled but the three production ready display cars exist to this day and all still owned by BMW AG. One of the Road M3 GTRs was displayed by BMW of North America LLC at Legends of the Autobahn in 2015 along with the newly restored ALMS race version of the car. The road cars were built alongside bodies-in-white of the GTR race cars in the special vehicles department of BMW’s Regensburg Plant.

As with the race car, the GTR road car was powered by the 4.0-litre P60 V8 engine. The engine retained the race cars’ dry sump oil system and was slightly detuned from 331 to 285 kW (444 to 382 hp) at 7,000 rpm. Top speed was 295 km/h (183 mph). The transmission was a six-speed manual and the differential was the same variable locking unit as used in the race car.

The dry weight was 1,350 kg (2,980 lbs).Weight reduction measures included a carbon fiber front bumper, rear bumper and rear wing.

The BMW CCA Foundation was fortunate enough to borrow this car from BMW Manufacturing while it was still in the US.