Text from
http://en.wikipedia.org/wiki/Renault_5_GT_TurboPhase I
The GT Turbo was introduced as part of the phase 2 of the Renault 5 in 1985. Following Peugeot's hugely successful and iconic 205 GTi, the Billancourt firm mustered a riposte. It used a heavily modified four cylinder, eight-valve "Cléon" 1394 cc engine (bored out to 1397cc) from the Renault 8 Gordini -- a pushrod unit dating back to the 1950s. It was turbocharged with an air-cooled Garrett T2 turbocharger. Weighing a mere 850 kg (1874 lb), and producing 115 bhp (86 kW), the R5 Turbo had an excellent power-to-weight ratio, permitting it to accelerate from a standstill to 60 mph (97 km/h) in 7.1 seconds. To differentiate it from the standard 5, it came with blocky plastic side skirts. Unfortunately, turbo lag was an issue, along with poor hot starting, and although it offered blistering acceleration, the GT Turbo was rather difficult to control. The same engine was used, with similar issues, in the less known but also blindingly fast Renault 9 and 11 Turbos.
Phase II
In 1987, the Phase I GT Turbo was discontinued, and the Phase II was launched. Major changes in the Phase II version included installing watercooling to the turbocharger, replacing the Phase I's air-cooled setup, which dramatically extended the life of the turbo. It also received a new ignition system which permitted it to rev 500 rpm higher. These changes boosted engine output up to over 120 bhp (89 kW). Externally, the car was revamped, with changes (including new bumpers and arches) that reduced the car's drag coefficient from 0.36 to 0.35. Giving the Phase II a 0 - 60 time of 7.6 secs. Note: Power-to-weight ratio phase I 140bhp per ton, phase II 138 bhp per ton.
In 1990 the special edition Raider model (available only in metallic blue, with different interior and wheels)

was launched. In late 1991 the Renault 5 GT Turbo was discontinued, superseded by the Clio 16v and the Clio Williams.