BMW Z2 convertible rendering - croppedThe BMW Z2 is on its way, despite not exactly being the darling of BMW brass. So says Britain's CAR Magazine, which argues that the German automaker doesn't want lose out to the everyman's small roadster, the Mazda MX-5 Miata, now that its own Z4 has gotten larger and more expensive.

According to CAR, unlike the larger Z4, the Z2 will only be available with a folding soft top, which should be good for weight but less so for refinement.

Fortunately, CAR suggests that any talk of the car being front-wheel drive has been killed dead. Instead, BMW's top guys are trying to make the choice between employing rear- or all-wheel drive to make the little roadster go.

A trio of 2.0-liter turbo engines are earmarked for the Z2, generating between 170 and 272 horsepower, and a couple of diesel powerplants with the same displacement are also mooted.

As of now, the report suggests that there's a lot of finalizing to be done in Munich on everything from platforms to engines, so stay tuned for more info as it becomes available. In the meantime, check out CAR for a pair of Z2 renderings.