Like the R33, the new R34 GT-R V-Spec (Victory Specification) models come equipped with the ATTESA E-TS Pro system and an Active LSD at the rear, while standard GT-R models come with the non-Pro system and a conventional mechanical differential. The V-spec model also had firmer suspension and lower ground clearance, thanks to front and side splitters, as well as a rear carbon fiber air diffuser, designed to keep air flowing smoothly under the car.
Another special model of the R34 GT-R is the M-spec. It was similar to the V-spec, but had special "Ripple control" dampers, revised suspension set up, stiffer rear sway bar and a leather interior with heated front seats. The 'M' on the M-Spec stood for Mizuno who is the chief engineer of Nissan.
At the time of the R34's release, like the R32 and R33, Nissan released an R34 N1 model. The R34 GT-R N1 was equipped similar to the R32 and R33 N1 models — a homologation special. It was sold without ABS, air conditioning, audio equipment, rear wiper, or trunk lining. The new R34 N1 was also given the new R34 N1 engine. Only 45 R34 N1 models were produced from the factory, 12 of which were used by Nismo for Super Taikyu racing. The rest were sold to various customers, mostly racing teams and tuning garages.
The V-Spec versions was also imported into the UK, a number of modifications was carried out to the car, these were 3 additional oil coolers, revised ECU map, full Connelly leather interior, underbody diffusers, stiffer suspension, active rear limited slip differential, extra display feature on the in car display.
In August 2000, Nissan released the V-Spec II, replacing the V-Spec. The V-Spec II has increased stiffness in the suspension (even stiffer than the original V-spec) and had larger rear brake rotors. It also comes equipped with a carbon fiber hood equipped with a NACA duct, which is lighter than the aluminum that all other GT-R hoods are made from. Also different on the V-Spec II was an iridium center console and aluminum pedals. The seats were upholstered with black cloth rather than the gray cloth used on previous R34 GT-R models, and the amber turn lenses were replaced with white versions. With the exception of the carbon fiber bonnet, the standard trim level GT-R also received these updates.
In February 2002 Nissan released a final production model of the R34 GT-R called the Skyline GT-R V-spec II Nür and the Skyline GT-R M-spec Nür. The Nür was named after the famous German Nürburgring racetrack, where the Skyline was developed. In total 1000 R34 GT-R Nür(s) were made, 750 were V-Spec II Nürs' and 250 M-Spec Nürs'. The Nür model featured an improved RB26DETT based on the N1 racing engine. The standard turbochargers were upgraded to larger versions with a slight increase in boost and the ceramic blades were replaced with steel versions. This has increased lag, but to compensate the turbo's durability was improved while being able to handle a bigger boost increase. This allowed tuners to increase the boost safely with standard turbos up to 450 hp at the crank. The V-spec II Nür is based on the regular V-spec II model, and the M-spec Nür was based on the regular M-spec model. Other than the addition of the Nür engine, the Nür models also included a different color of stitching on the interior trim, as well as a speedometer reading up to 300 km/h (186 mph). Due to then-current Japanese law the car was advertised as having 276 hp but it actually had over 330 hp when it left factory.
