It’s been a hectic week for all of us, including BMW, who has managed to spark several spicy rumours over the last few days. While we’ve rounded them up in today’s blog together with a bit of commentary, it’s important to remember that we are merely speculating and that nothing has been confirmed by BMW.

Are BMW and Toyota working together on a sports car?

Although this rumour has been confirmed last week by both BMW and Toyota, fans and journalists were left in the dark as to what type of sports car was being built. Are we talking the next generation Z4, a revival of Toyota’s Supra, or a full-blast supercar?

Concerned purists were assured by a BMW Spokeswoman in Munich that “BMW and Toyota’s respective versions of their jointly developed sports car will not be identical nor share exterior designs.”

BMW further announced that the vehicle “will be a sustainable sports car with environmentally friendly technology.” For anyone skeptical about the collaboration, keep in mind that both manufacturers are market leaders in the production and innovation of carbon fibre and hybrid technology. The future, therefore, will be very exciting indeed.

Is there a new BMW M3 under wraps at the BMW Museum?

Last week, BMW has done something completely out of the ordinary and parked a new BMW model under wraps at the front desk of their BMW Museum in Munich with seemingly no intent of revealing what’s underneath. Two small clues have been spotted by keen observers in the shape of a piece of tape reading “Fx2″ and a portion of its wheel. While “Fx2″ could mean F82 or F32, both indicators of a 4 Series Coupe, the wheel appears to be an exact copy of the wheels used on the M3/M4 prototypes spotted around the Nurburgring.

A few generally accepted – but not yet confirmed – facts about the next generation M3 are its 2014 debut, a 3.2 litre inline-six engine that produces 450 to 480 horsepower, and a massive reduction in weight.

When and what can we expect from the next generation X5 and X5 M?

The next generation (F15) BMW X5 M has just been spotted showing off its quad M exhausts and blue brake calipers. Very little is currently known about the next X5, although various spy pictures have hinted at a front fascia and headlights similar to the current 3 Series.

Speculated to debut in late 2013, the new X5 will premiere several new bits of technology, including a pedestrian airbag and a previously photographed iDrive touchpad. Engine wise, the X5 M is expected to be powered by the current M5 and M6’s engine with a potential power bump to 580 horsepower.

[Hat tip to the fantastic Bimmerpost and BMWBlog for helping fuel the rumours.]