BMW's recently departed 1 Series M Coupe was a phenomenal success for the German automaker. Originally just 2,700 units were planned to be built, but due to a huge demand, BMW decided to increase that number to over 6,000. As expected, each one was quickly sold. And now it's gone, sadly, but certainly not forgotten. A new report coming from Car and Driver is claiming that BMW is currently at work on the little coupe's successor, which will likely be crowned the M2 and will once again be rear-wheel-drive.

Nothing is for certain as to what will be under the new model's hood but according to Car and Driver, that engine could be an upgraded version of BMW's N54 3.0-liter twin-turbo straight-six. Another possible engine choice could end up being the automaker's N55 3.0-liter single-turbo straight-six, but the goal is for the car to produce a total of at least 360 horsepower in order to properly compete with the likes of the Mercedes A45 AMG and CLA 45 AMG as well as the upcoming new Audi S3. Another point of good news here is that a traditional six-speed manual will be offered, though a dual-clutch transmission option is also likely.

All told, the M2 could very well be capable of making 180 mph, although BMW will control that speed electronically to 155, and its 0-60 time should come in at around 4.5 seconds. As with all other proper M-badged cars, the M2 will have more aggressive front- and rear-end styling, wider fenders, larger wheels and quad exhaust. We've recently seen some spy shots of the base 2 Series coupe out testing, but don't expect to see the M2 debut until late 2014 or early 2015. We predict it'll be well worth the wait.