BMW E92 M3 Review: How The Last Naturally Aspirated M3 Compares to Today’s Turbo Era


The BMW E92 M3 is a car I know intimately. I have driven it flat-out at Laguna Seca, leaned on it at Road America, lived with it day to day, and even pointed it down the highway for long road trips. It was once a familiar benchmark. But I had not been behind the wheel in nearly 15 years. In that time, BMW M has moved decisively into the world of turbocharging, automatic gearboxes, and all-wheel drive. Returning to the E92 now, with that modern context burned into muscle memory, was not just a nostalgia exercise. It was a recalibration. And what it revealed says as much about where M has been as where it is going.
Unlike modern M cars, the E92 does not flatter. The lack of immediate torque, long-throw manual, and its notchy action make 0-60 runs a methodical exercise. But we’re in a post-speed world these days with 1000 hp electric SUVs and the like. The reason the E92 is more special today than when it was released is that it communicates. Through your fingertips. Through the seat. Through a steering wheel that feels alive in your hands, not filtered through software, sensors, or code. And most importantly, through that wonderful soundtrack.

This is a car built in the last moment before the digital tide fully rolled in.
At its heart sits the S65. A 4.0-liter naturally aspirated V8. No turbos. No tricks. Just eight individual throttle bodies breathing in perfect sync. 414 horsepower at 8,300 rpm and a cold-start sound that will raise the hair on your back of your neck while it wakes the neighbors.
You do not drive this engine at low revs. Like the S50 in the E36 M3 and the S54 in the E46 M3, power builds cleanly, relentlessly, with a rising mechanical howl that hardens as the tach sweeps clockwise. But crucially it does so with two more cylinders than those cars offered. This gives the E92 an exotic combination of low rumble with a hint of mid-range shriek atone 5,000. Past 7,500 it feels electric, feral, urgent. Running through the gears and up the rev-range feels like an event. I did this time and time again and mostly had no idea how fast I was going because I was so focused on the feedback on all levels.
And then there is the steering.

Hydraulic. Unfiltered. Honest. I remember when I drove it back to back with the F82 M4 at its North American launch in 2014. It difference even at 10 mph was shocking. Today driving the G82 with its lighter steering, it’s even more so.
Every camber change, every ripple in the pavement, every ounce of front-end grip is transmitted directly into your palms. You do not guess what the tires are doing. You know. The wheel loads up naturally as you lean into a corner, lightens as grip begins to ebb, and speaks in a language that modern electric racks simply no longer use. And this is from a hydraulic system that wasn’t even considered great at the time.
The Competition Package that our test car was optioned with sharpens all of this. Lowered suspension. Revised EDC tuning. Stiffer springs. Thicker anti-roll bars. And those 19-inch Style 359M wheels that somehow look perfect from every angle. The car feels keyed-in, alert, balanced. The ride is little harsh but not brittle or bothered over broken pavement. Just focused.

On a back roads, the E92 M3 feels organic in a way that is increasingly rare. The chassis breathes with the road. The throttle responds instantly. The brake pedal is firm and linear. You are not managing modes or calibrations with the E92 like you are with the current generation of M cars. There are no computational layers in the way of feedback.
The modern G82 M4 is objectively quicker in every measurable way. More power. More torque. More grip. More tech. It deploys performance through layers of software, adaptive systems, configurable personalities. It is devastatingly capable and an exceptional car. Maybe it’s even an exceptional M car.
But it is also interpretive in the way it reacts.

The E92 does not interpret. It simply responds to your inputs.
There is no artificial engine sound. No programmed torque plateau. No steering algorithm smoothing out your mistakes. The car rewards precision and punishes indifference. It asks something of you, and in return it gives you everything.
This is why the E92 M3 Competition Package feels less like a computer and more like a sports car. Not because it is slower or simpler, but because it is more human. It requires engagement. Attention. Respect.

It is a car you listen to. A car you learn. A car that teaches you.
And when the road opens, the engine singing at full voice, the steering alive in your hands, the chassis perfectly balanced beneath you, there is a moment of clarity. A moment where the noise of the modern world fades and all that remains is the connection between driver, machine, and asphalt.
The E92 M3 is a flawed car. When it was launched, plenty in the press had mixed feelings about its V8, growth in size, and extra weight over its predecessor. But with the benefit of time, the E92 has become an improbable classic.
