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Originally Posted by RobMason
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Yes, but it was a model named for what it was, a race car that had been legalized for road use. It's just an abbreviation of the Italian words for it, same as GT.
Besides, all that has nothing to do with the M1. BMW ownes the rights to to the name, and can do whatever they like with it, which in this case would seem to be sticking it on the back of a 1 Series with some fat tires on it.