After months of teasers and spy shots, BMW has finally revealed its first-ever M3 Touring. Based on the 3-Series wagon, it uses the same twin-turbo straight-six powertrain found in the M3 Competition sedan, with all of the same chassis and traction goodies.

The 3.0-liter S58 under the hood of the M3 Touring is unchanged from its sedan counterpart. That means 503 hp and 479 lb-ft of torque going through an eight-speed ZF torque-converter automatic to an M-developed xDrive system. Drivers can choose between 4WD, 4WD Sport, and 2WD, meaning you can still do giant drifts in your longroof people-hauler if you so desire. There's also a drift mode that lets you adjust just how much angle you can carry before the system intervenes.

BMW says the M3 Touring can sprint to 62 mph in just 3.6 seconds, onto an electronically limited top speed of 155 mph, or 174 mph when you option the M driver's package.

The adaptive M suspension has been retuned for the wagon body style, paired with variable-ratio steering. There are 19-inch wheels up front and 20s in the rear, with ultra-sticky summer rubber available as an option. Like on the M3 sedan, carbon ceramics are also...