As some of you may be aware, a demo for upcoming racer GRID has hit the Xbox Live Marketplace. There’s also the opportunity to win a brand-spanking new BMW 3-Series if you’re fast enough.

Courtesy of Major Nelson:

• Content: GRID Demo
• Price: Free
• Availability: All Xbox LIVE regions
• Dash Text: [ESRB: E (Everyone)] It’s time to get on the GRID as this superb demo showcases racing in the three regions playable in the full game; Europe Touring Cars at Jarama Circuit, U.S Muscle cars at San Francisco and Japanese Drift Racing at Yokohama Docks. Compete online in the European and U.S races and check out the time trial competitions for the chance to win a car and other ace prizes.
• Size: 795 MB

The competition requires you to set a super-fast time on the Time Trial part of the demo.

Beat the world record lap time on the Jarama Euro Touring cars championship and you could win a BMW 3-series.

If your time is among the five fastest in the competition, you’ll win a place in the final and participate in the Codemasters Euro Touring Cars Time Trial to determine the winner of a BMW 3-series.

Download the demo now for XBOX 360™ or Playstation®3 Network. Then, select the Time Trial option and then the European Time Trial, and compete on the Jarama track to beat the world record lap time, select ‘Finish Time Trial’ and follow the instructions. No purchase necessary.

IF YOU SUCCEED, select FINISH TIME TRIAL from the Pause menu and follow the instructions.

Head on over to here and enter the code, then voila, you might just get lucky and get a brand new car. The competition is only open for EU residents too, which makes a nice change. Check out the Terms and Conditions to make sure you qualify for participation, and good luck. Let us know how you get on.