Take a look at the original E30 M3 next to the current M3 and M4 twins, and one thing is apparent: the current M cars are huge. The bigger the M3 got over the years, the bigger the gap grew for a smaller (and cheaper) M car in BMW’s portfolio. The fantastic 1 Series M Coupe rectified this to some extent, but it was built in such small numbers that it was nearly impossible to get your hands on one. Even today they’re selling for well over MSRP.

But relief is on the way in the form of the 2 Series-based M2, seen here putting in some hot laps on the Nürburgring. From the looks of these test mules, BMW appears to be in the final stages of M2 development. The psychedelic camouflage hides wider front fenders, similar to the ones seen on the M235i race car, and stylized M-specific front and rear fascias. Of course, there’s also the requisite quad exhaust exits.

Expect to see a detuned version of the same twin-turbo 3.0-liter straight six from the M3/M4 producing around 365 horsepower and 343 pound-feet of torque.The regular 2 Series is actually pretty heavy for its size, so expect the M2 to be put on a diet of carbon-fiber-reinforced plastic body panels and aluminum chassis components. That, combined with a short wheelbase, should translate to some agile handling characteristics too. Look for the M2 to be unveiled later in 2015 and to hit showrooms in 2016.

We’re really looking forward to this one.