Rumors of a replacement for the iconic BMW M1 are rampant. We've been itching for one since the late '70s. It seems, for now, the wait is coming to an end.

A new report suggests the successor will be dubbed M8 and unveil as a concept in 2014. Two years later, it will hit market boasting 600 hp through a 4.0-liter V8 with twin turbochargers. Top speed should hit the 200 mph mark.

The original M1 was launched in 1978. Only 456 were rolled off the factory.

[via Left Lane News]

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