A speculative render of a still speculative model - the BMW M2 Convertible. According to BMW insider Scott26:

Such a concept remains a possibility, especially with the M2 becoming a series production car. The rear lights are similiar but in the actual car they wrap around in the opposite direction as proved by a recent bodyshell spy photograph. Aerodynamics are still too dramatic.

Car and Driver reports on some BMW M2 rumors. As reported by Jens Meiners:

The M version of the upcoming BMW 2-series coupe and thus the successor of the immensely good 1-series M coupe. Unlike its predecessor—which was rushed through development in record time, known internally as Project Pyrat—the 2015 M2 will undergo a longer gestation, allowing BMW to come up with a more polished package. Look for aggressive restyling, strongly differentiated from the M135i that’s available in overseas markets. The M2 will feature a unique front-end treatment, large air intakes, a wider track and wider rear fenders, as well as a rear spoiler and four exhaust finishers. The expected change in nomenclature from 1-series coupe to 2-series would fall in line with the rest … CONTINUED