BMW has released further details of its new M3 model, set go on sale in September of this year.

The new coupé will feature a 4.0-litre V8 engine whereas previous M3s have used a straight six. The new engine, which will happily rev to 8,400rpm, will produce 420 horsepower at 8,300rpm.

Zero to 62mph will take 4.8 seconds and the top speed will be limited to 155mph. The new M3 will use a six-speed manual gearbox.

Despite the increase in power, BMW is keen to point out that the new M3 will offer eight per cent better fuel economy on the combined cycle at 22.8mpg. The M3 will feature lightweight parts to keep the weight down and increase performance and economy including a carbon-fibre-reinforced plastic roof panel.

The drive-train will also benefit from the use of lightweight materials and the new V8 will weigh 15kg less than the outgoing six-cylinder unit.

The front axle components are made entirely from aluminium and the five-link rear axle, normally constructed from high-strength steel, also has aluminium components to save weight.

The new M3 will feature all of the electronic programmes and personalised settings available in other performance BMWs including optional Electronic Damper Control, three DSC+ traction control settings and three specific engine control maps. The response rate of the Servotronic power steering will also be adjustable.

All of the preferred sports settings will be instantly accessible through the Mdrive button and adjusted through the iDrive system.

Prices for the new model will be released closer to its launch date.