BMW is celebrating the market launch of the M340i xDrive with the First Edition, which is available in G20 sedan and G21 wagon guises, with a limited production run of just 340 units for each body style. We’re finally getting a detailed look at the special edition 3 Series thanks to BMW Spain, who released a slew of photos of the M340i xDrive Touring recently.

Developed by BMW Individual, the First Edition stands out thanks to its standard Frozen Dark Grey exterior paintjob that is complemented by the high-gloss Shadow Line package. The latter sees the window trim surrounds, front kidney grille, side mirror caps and bits of the rear bumper being finished in black.

Other features include a set of 19-inch M double-spoke light alloy wheels (style 792 M) in a two-tone finish, a rear carbon-fibre diffuser and M Performance brakes with red calipers. This particular unit also comes with optional BMW Laserlight technology, which is an upgrade over the standard LED units.

Moving inside, the First Edition gets BMW Individual’s full leather upholstery in a rather striking bi-colour theme – Silverstone and Fjord Blue – along with Kyalami orange contrast stitching. The leather trim is also applied on the dashboard, with finishing touches being M stripes on the seat belt and a special “First Edition 1/340” badge on the passenger-side carbon-fibre trim.

The list of standard features is pretty large too, including Live Cockpit Professional, Comfort Access, Parking Assistant, Connected Package Professional, wireless phone charger, DAB+ digital radio tuner, a Hi-Fi speaker system and adaptive M suspension (10 mm lower ride height).

Under the bonnet, the M340i xDrive packs a B58 3.0 litre turbocharged straight-six that generates 374 PS (369 hp) from 5,500 to 6,500 rpm and 500 Nm of torque from 1,850 to 5,000 rpm. The straight-six is paired with an eight-speed Steptronic Sport automatic transmission, with drive going to all four wheels via a rear-biased xDrive all-wheel drive system and a standard M Sport differential.

Both body styles have an identical top speed of 250 km/h, but in a zero to 100 km/h sprint (with launch control), the Touring version takes 4.5 seconds, while the Sedan does the same a tenth of a second quicker.