So the introduction of the BMW M5 Touring would have gave the biggest clue that there would be an M3 Touring as BMW move to cover lost ground from Audi and Mercedes-Benz in the performance wagon segment.
The M3 is undergoing the same development as the M5 Touring by undergoing major redevelopment of the rear suspension.
But someone caught the wagon undergoing testing in arizona and yes they are also out on the streets of Munich. Market introduction is expected in Late 2008 and like the M5 Touring, the M3 Touring will not be offered in North America.
///M3 Wagon? - X5world