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According to BMW it isn't faster then the M3. The M3 runs 0-60 in 4.8 seconds and the 'advertised' speed of the ZM is 5.0 seconds (which I believe is false) but if you go strictly by what BMW says, the M3 would be quicker.
But yah, the ZM will be more expensive because it is brand spanking new and it is a convertible. Compare a fully loaded M3 cabrio to the ZM and you'll notice the prices are the same if not higher on the M3 side.
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