M40 1,6 engine was available from august 1988 till the end of production of E30 body. It has 102 hp. Also E36 had this. 1,6 engine was ment to the areas where car taxation is very high, like Greece, Denmark, Finland (where i live) etc. BTW those three countries are still ranked as the countries where car taxation is the highest in the world.
Carbed 1,6 engine belonged to M10 family.
316I was otherwise like 318I but it had a big clock in the place where usually is tachometer.