Special edition M3 will have a limited run of just 40 units to commemorate 40 years of BMW M.

BMW of North America has announced the 2012 BMW M3 Competition Edition in Frozen Silver to celebrate 40 years of the M division.

Only 40 units of this special edition BMW M3 will be made available to U.S. customers with all units being identically equipped.

The BMW M3 Competition Edition comes in a Frozen Silver Metallic exterior with black hood intakes and a dark-chrome trim for the kidney grilles, BMW M side gills and exhaust tips. The special edition comes with M3 GTS 19-inch black wheels too.

For the interior is a leather finish in black Extended Novillo with palladium silver accents and stitching. The steering wheel is covered in Alcantara with an M3 Checkered Flag logo inlay. That logo is also featured on the door sills. There's also a carbon fiber trim for the dash and center console.

Under the hood is the same unit from the series M3's, the 4.0 liter 420 PS (309 kW / 414 hp), coupled to the M DCT transmission.

The 2012 BMW M3 Competition Edition in Frozen Silver is priced at $81,060.