This is the clutch alignment tool to center the clutch disc on the flywheel when assembling the pressure plate. Most OEM clutch kits should come with this tool but some may not or maybe you need one after the fact. This tool only fits with the E9X M3 6MT (manual transmission) clutch assembly, not the DCT dual clutch.
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BMW Fitments:
3 Series
E90 / E91 / E92 / E93 (06-13) > M3