In a nod to the 30th anniversary of the fabled BMW M1 supercar, BMW Group Design just launched a new concept car that acts as a homage to it—and that's also what they named it. At the Concorso d'Eleganza Villa d'Este 2008 this week, the company debuted the BMW M1 Homage, which they call a "design study in the tradition of a BMW Turbo that represents a contemporary take on the BMW M1 and the mid-engine concept."

The concept's Liquid Orange paint is meant as a tribute to the original car's color, The air vents in the hood, the twin rear badges, the rear window louvers, and the black cutline that separates the roofline from the rear of the car are also details that made it into the new version. The dimensions are mostly the same as the original except for an extended wheelbase for more interior room. The headlights almost disappear into the car when closed, as a kind of new iteration of the long-since-gone retractable lamps of old (which the M1 had, along with Porsche 944s, Pontiac Firebirds, and countless other sports cars of the era).

There's no word on anything underneath the skin, but let's hope they decide to build it. After all, the original BMW M1 began life as a show car, before entering production in a joint bid with Lamborghini to build enough race cars for homologation purposes.