The odd series BMWs are the mainstays...the 3, 5, 7 etc.
The even series are limited production models released at certain times. I believe there have only been 6's and 8's for that.
The new 1 series is going to be a lower priced, smaller than the 3 series, 4 cyl entry level BMW to get more and more young people into the brand. It is going to be designed for people just out of college, with a good job but high bills and college loans.
Remeber the 3 series has the coupe and convertible.