Only 1,672 Turbos were ever made. None were certified for sale in the USA. Today, the 2002 Turbo is one of the most sought after 2002's.

The ultimate New Class sedan was the 2002 Turbo. The 2002 Turbo was introduced at the 1973 Frankfurt Auto Show. Production stopped in July 1975. Between July 1973 and July 1975, only 1,672 models were built. None were certified for sale in the USA. 

The 2002 Turbo produced 170 hp at 5800 rpm, with the same basic 2.0-liter engine as the 2002 ti.

The distinguishing feature of the Turbo was the Kuhnle, Kopp & Kausch turbocharger. It was mounted low on the right front of the engine and air was fed to it through a tube. The holes in the front spoiler are for cooling. The large center opening is for the oil cooler, while the smaller one to the right is used for the tube that feeds cool air directly onto the turbo itself. 

The Turbo had heavy-duty clutch and steering, a 40% limited slip differential, and 10" vented rotors for the front brakes. A Getrag close ratio 5-speed gearbox was optional. Heavy-duty shocks were fitted, along with standard 13-inch two-tone steel wheels, the same as 320i wheels. 6" wide "turbo style" alloys were optional.

The 2002 Turbo was made in only two colors, Chamonix white and Polaris silver, with a tri-color M stripe on the sides and front spoiler. Other external features were the Turbo badge on the left rear, the fender flares, the rear deck spoiler, the lack of a front bumper, and the front spoiler. The very early models had "2002 turbo" in reverse script on the front spoiler.

A red plastic panel highlights the instrument cluster, which contains a clock and a boost gauge. There is no oil pressure or oil temperature gauge. The boost gauge has a white zone (no boost), a green zone (the boost is On), and a red zone (too much boost). Black sport seats and a sport steering wheel were standard. Most 2002 options were either standard or available, including cloth seats and a sunroof. Air-conditioning was not an option because there was no room for the condenser.