Nope, I was just browsing our local salvage auction. They have a completely toasted M3 convertible (everything that is not metal is gone) there as well (with seemingly no collision damage). My guess is either a mechanics or manufacturing fault.

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PhoenixM3
2008 M3 Sedan - Interlagos Blue [On Order]
2008 X3 3.0is - Black Sapphire, Sport Activity, Premium, etc.
2007 X5 4.8i - Deep Green, Sport, Premium, Technology, Comfort, etc.
2005 X3 2.5 - White, Bare bones, Auto (My business delivery vehicle)
2001 M3 Convertible - Phoenix Yellow, 6-Speed