The question is: Where are they racing? Straight-line or through the twistys?
Quick answer. In Europe, the E36 makes 286hp in 1995, top speed of 155 and weighs over 200 lbs less. The Supra loses in either case. From some quick spec-checking a Stage III set-up from the Suprastore makes 285hp with 11.6 pounds of boost. This is with larger injectors, a higher presure fuel pump and electronic boost controller, these are three things that the Supra mentioned do not have. Which puts the Supra at a disadvantage.
In the US the E36 is de-tuned to 240hp and tops out at 137 in 1995. In a 1/4 mile the Supra wins due to faster out of the gate and turbo-boost. In the curves,engineering and weight make the M3 simply set up too well for the Supra to see anything other than tail lights.
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