The first of the E36s built for Schnitzer for the 1993 season. As Schnitzer were busy running the E30s in 1992, Valier Motorsport were enlisted by BMW to help with the development and build of the car, with the car first running in Feb 1993.

The interior of the car had been painted red, as had been normal practice for Schnitzer, however during the build BMW instructed the team that all works cars should be white inside and out. With much of the already completed it was decided that having to re-paint the car would needlessly delay the project. The second car in build (E36/A 042 92) was also red but that was re-painted according to BMW's wishes.

Driven by Steve Soper and Joachim Winkelhock at the 1993 BTCC media day, and by Soper during the opening two rounds of the year. From the Snetterton round, Soper switched to E36/A 048 92 for the remainder of the year, with 033 becoming the team's test car.

Following the end of the BTCC season, the car would also be driven by Thierry Tassin at the FIA Touring Car Challenge and by Emanuele Pirro at the Macau Grand Prix. After the Macau event, all three Schnitzer cars took part at invitational touring car race at the Sentul circuit in Indonesia, where Pirro took the car to it's final victory as a works car.

The car was sold to Team Taisan, arriving in Japan in Dec 1993. During 1994 the car was driven by Kazuo Mogi in the Japanese Championship. The car was placed in storage at the end of the season and has been unused ever since.

After many years in storage, the car was sold and returned to the UK in Nov 2020.