[12] Applications: For the BMW M1 Procar single-make series, the M88 engine was bored out marginally to reach 3,498 cc (3.5 L).

This race engine produced 350 kW (480 PS; 470 hp) in Procar specifications.

This version had forged pistons, sharper camshafts, bigger valves, as well as oil cooling for the transmission and rear differential.

The M88/3 was also fitted to the South African BMW 745i, due to packaging problems with the turbocharged M102 engine which was used in other markets.

It utilizes the same block as the M88 and maintains the same bore and stroke, but borrows its head from the BMW M30 engine family.

As sold in Europe and most other markets (except North America), this engine used a compression ratio of 9.3:1, did not have a catalytic converter, and produced 160 kW (220 PS; 210 hp).