If you believe the advertising spin, the new 2-Series Coupe is ‘BMW to the power of 2’.

However, having spent three days in Tasmania fanging the M235i on road and track, we reckon BMW could be selling its hot new coupe a bit short. Until the new M3/M4 twins arrive in Australia later this year, the M235i might just be the best car Munich currently makes.

A bold claim? Perhaps, but what this modern day 2002 Turbo lacks in outright punch compared to the full-fat M models, it more than makes up for in accessibility and driver enjoyment.

BMW M235i driving

BMW says the target for these M Performance products is “30 per cent of a proper M car”. Based on our experience thus far, we’d say the engineers involved are rather over-delivering on their brief.

But before we get into the nitty gritty of what the M235i is like to drive, let’s deal with the name. BMW’s current naming system is a bit of a minefield, but the 2-Series essentially replaces the 1 Series Coupe, a car that’s found over 5000 homes in Australia since its introduction in 2008, the hi-po 135i taking the lion’s share of sales.

BMW-M235i -rear -static

That said, despite wider tracks (41mm front, 43mm rear), it really needs the optional 19s to fill the arches and the overall shape, while attractive, is perhaps a little bland.

There’s nothing bland about the way it goes, though. Outputs of 240kW/450Nm feel, if anything, conservative, judging by the way the M235i hauls itself down the road. Claimed 0-100km/h is 4.8sec and from the seat of the pants there’s every chance the quarter mile time will dip into the 12s.

BMW M235i engine

When combined with the standard eight-speed ZF automatic, the engine’s flexibility forces a complete rethink of which gear is appropriate for any specific corner. Tackling the tight, technical confines of Baskerville Raceway, fourth gear proves ideal for corners that would traditionally be borderline between second and third and even then, such is the engine’s urge, wheelspin and power oversteer are always available on request.

The gearbox itself is superb, smooth and swift in its responses, and having eight ratios to choose from means there’s a gear for every conceivable type of corner. But with such a wide power band, we suspect the longer gearing of the (no cost) optional six-speed manual would deliver a less frenetic, more rewarding drive.

BMW-M235i -scenery

What can be confirmed is, for serious drivers, optioning the M Performance limited-slip differential is a must. Though it carries a seriously hefty price tag of “$7000+” (pricing to be confirmed), it has the potential to launch the M235i from very good into the pantheon of greats.

It’s not simply about making the car do enormous drifts (though that certainly wouldn’t hurt), it’s about giving it the traction to make the most of the engine’s power and giving it predictability when you approach and then step over the limit. Perversely, it’s less of an issue on track, the higher speeds and greater lateral load allowing the car to move around more progressively.

BMW-M235i -front -scenery

Like the Golf GTI, the M235i has a system that brakes the inside spinning wheel to transfer drive to the outer tyre and, like the Golf GTI, it doesn’t work. We’ll report back the moment we try an LSD-equipped M235i.

Whinge over, we can get onto the good stuff, of which there’s plenty. As mentioned, the engine is savage, with great response and a howling soundtrack (though it does drone a bit when cruising).

BMW M235i wheel

Adaptive dampers are a welcome standard feature on the M235i, allowing the driver to select from Comfort, Sports and Sports+ modes for the suspension as well as the throttle and steering. Even more welcome would be the ability to individually select each parameter (eg, Sports throttle with Comfort suspension), but that luxury is restricted to fully fledged M cars for the moment.

BMW M235i interior

There’s not a whole lot of feel, but you never have issues placing the car where you want it and, thanks to a variable ratio rack, there’s just 2.1 turns lock-to-lock.

Where things get complicated for the M235i is when it comes to pricing. For some, the $15,000 premium over the more-or-less mechanically identical M135i hatch will be madness; for others, it’ll be a small price to pay to look like you’re driving a sports car not a shopping cart. Where it gets tricky is that $79,990 is really just the beginning.

BMW M235i night

On the other hand, given it’ll match a V8 M3 in a straight line and probably give it a hurry up around a track, too, perhaps that price tag isn’t so steep after all.

BMW’s been making small, agile, rear-drive coupes for over 50 years, and when you drive the M235i you can tell it’s had plenty of practice. While it’s not perfect, the M235i proves some folk inside BMW still know how to make a car that delivers on its core values of driving excellence.

Specs Body: 2-door, 4-seat coupe Drive: rear-wheel Engine: 2979cc inline-6, DOHC, 24V, turbocharger Bore/Stroke: 89.6 X 84.0mm Compression: 10.2:1 Power: 240kW @ 5800-6000rpm Torque: 450Nm @ 1300-4500rpm Power/Weight: 163kW/tonne Consumption: 7.6L/100km (claimed) Emissions: 176g/km (claimed) Transmission: 8-speed auto Weight: 1470kg Suspension: A-Arms, struts, adaptive dampers, anti-roll bar (f); multi-links, coil springs, adaptive dampers, anti-roll bar (r) L/W/H: 4454/1774/1408mm Wheelbase: 2690mm Tracks: 1516/1532mm Steering: electrically-assisted rack and pinion Brakes: 340mm ventilated discs, 4-piston calipers (F); 345mm ventilated discs, 2-piston calipers (R) Wheels: 18 X 7.5-inch (f); 18 X 8.0-inch (r) Tyres: 225/40 ZR18 88Y (f); 245/35 ZR18 92 Y (r) Michelin Pilot Super Sports Price: $79,990 Price as tested: $91,315* *Advanced Parking Package $1300; Visibility Package $1560; Comfort Package $3120; Sunroof $2600; DAB radio $500; Harmon Kardon sound system $850; Metallic Paint $1485 Positives: Storming engine, slick auto, handling balance Negatives: Traction issues; not cheap