The New Old School: Lotus Emira vs BMW M2 vs Corvette vs Toyota Supra comparison

If you walk into a Porsche dealership today holding a duffle bag full of notes that add up to $220,000, there’s a very slim chance you’ll be heading home in a brand-new 718 Cayman GTS.

The Stuttgart sports car specialist is all sold out for the next 18 months and salespeople are reluctant to take orders (because there’s a new electrified version on the way in 2025). So what’s a sports car fan to do, if not wait patiently for a Porsche?

As we’re entering the last hurrahs of combustion-engined sports cars, that might not be so wise. Enter four left-of-field options: Lotus’s Emira – the Evora replacement – with its bonded aluminium chassis and mid-mounted 3.5-litre supercharged V6 for $199,990, the brash mid-ship C8 Corvette 3LT (from $205,000), BMW’s new M2 manual ($136,200 as you see it here), and the cheapest of the lot, the Toyota GR Supra GTS manual ($99,880 with Matte White paint).

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Where a Cayman is 18 months or never, these three are comparatively available.

The Corvette is ready to order at GMSV dealers in whatever flavour you like, and this year the brand will launch a hardcore Z06 with more grunt and a sharper chassis; an electric E-Ray version is coming, too. For the M2, it’s around a six-month wait for a new order with some dealer stock around, and a similar story for the Supra.

In the Emira’s case, cancelled First Edition orders mean a few of the year’s 200-strong supply are available in dealers. Orders for V6 and four-pot versions will be met with glee (and roughly a six-month wait time) by one of Australia’s five Lotus dealers. Speaking of dealers, that’s where this story begins following a 6:00 am flight to Melbourne.

The Lotus transforms Lake Mountain into a tarmac rally stage

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The compact Simply Sports Cars location in South Melbourne is currently packed with new Emira First Editions in every hue imaginable, from ‘our’ Seneca Blue communications colour example to understated but gorgeous Nimbus Grey.

After a quick nose around, it’s time to enter the Emira, a task much easier than getting into an Elise or Evora thanks to unobtrusive door sills.

Once inside it’s the seats that are a little peculiar. They nip in around the thighs and aren’t set as low as expected, likely amplified by the extremely low scuttle that gives excellent forward visibility.

The new infotainment system is slick, with enough personality in the fonts and graphics to be Lotus, rather than unbranded weirdness. Wireless Apple CarPlay and Android Auto are standard as are a wireless charging pad, USB-A and USB-C plugs.

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A slice of familiarity can be found in the Volvo indicator stalks (thanks Geely) but parts-bin bits are nothing new to Lotus owners, and my-oh-my is this better put together than an Evora. There are no rattles!

There are, however, tells that the Emira was handmade in Hethel; our car’s passenger door was hung a little wrong, and the unopenable front bonnet was wonky but compared to what’s come before, the Emira’s good.

Any worries that Geely has sanitised Lotus fall away pretty fast – the Emira is no limousine. The KEF sound system with 10 speakers and a subwoofer is good up to about 80km/h, but at higher speeds it can’t overcome the tyre roar.

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There’s a distinct feeling that the Emira needs warming up, too, unlike so many modern sports cars that are ready and raring to go from the minute you thumb the start button.

The sexy exposed gear linkage opens up as the fluids get warm, though at low speeds it’s still clumsy and knuckly and that Toyota-sourced 2GR-FE V6 mounted behind your head isn’t inspiring below 4000rpm.

Once hot you won’t want to put eggs or milk in the rear storage compartment because, although it’s pretty spacious, your cargo will get heat-soaked. Fast. Then there’s that silly horizontal fuel filler that lets between 50-200mL of 98RON unleaded dribble down a channel onto the floor.

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The legacy of Lotus remains well and truly intact, then. Luckily, it applies to the hydraulically-assisted steering which remains in constant dialogue, nibbling and chatting away on the motorway out to meet the rest of the team.

Day one lends time for a brief sample of each car’s attributes which proves a good test for user-friendliness and ease of familiarisation. The M2’s optional buckets are delightfully snug to sit in (yet if you’re over 75kg, a pain to clamber into) and form part of a $14,500 pack that includes ‘Merino’ leather upholstery, increased top speed (280km/h), and M advanced driver training courses.

The M2 is my steed for the run home in the dark, its clever adaptive high beams illuminating the twists of a post-sunset Lake Mountain road. Andy’s behind me in the Corvette and I’m hurriedly trying to find my ultimate settings combination from 10 parameters each with between two and 10 discrete settings, all while tackling an unfamiliar road.

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Not ideal, though I settled on Sport brake, Sport suspension (Sport Plus is too firm), Sport Plus engine response and M Dynamic mode for the ESC. It’s a hooligan, this little coupe, obliging mini oversteer moments on the cool evening tarmac.

As the speed drops, the conventional – by these four’s standards – cabin feels indulgent. The 14.9-inch curved touchscreen, wireless phone mirroring, powerful 16-speaker Harman Kardon sound system, three-stage seat heating, ample door pockets and centre bin storage are just like a regular 2 Series.

Of all the vehicles here, this is the only one with two jump seats in the back as well. Best used for dogs or luggage, you can squeeze full-sized humans back there if needed.

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The M2 was my last experience on day one and the first cab on the second, and the chat over coffee immediately turned to its looks.

As someone who’s spent plenty of time around the muscular original M2, I’m not a fan; it looks like a model from Grand Theft Auto that’s pretending to be an M car. Andy promises he’s trying to like M2 in the flesh, but its Zandvoort Blue paintwork isn’t helping. Dylan, on the other hand, really likes the new G87 M2 so your mileage may vary.

BMW may have made a polarising-looking coupe but we’re all on the same page with the drive – especially of the six-speed manual. The DIY-shifter accounts for a quarter of sales and slows the 0-100km/h sprint by two-tenths.

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It may not have the slick, short throw of the best manuals (like the Civic Type R’s) but it still adds involvement, matching the 3.0-litre S58’s 338kW/550Nm outputs perfectly.

There’s torque everywhere above 2500rpm, yet thanks to that second turbo it’s still worth chasing the 7200rpm redline. The sound is great, too, partially synthesised but with an honest metallic shriek above 5000rpm reminiscent of the E46 M3’s ‘S54’ six-pot.

Brake-by-wire is a technology that will take off, but after the Evora’s firm confident hydraulic feel, the M2’s middle pedal is limp. Bite and stopping power is no problem, but modulation is less satisfying. There’s not much clarity in the front end either, the thick steering wheel robs any granularity even though the rack is wonderfully accurate and well-weighted.

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The lack of front-end feel is hard to criticise, though, because the M2’s turn-in grip is mega.

With the least pronounced stagger here – just 10mm difference between its front and rear Michelin’s widths – the high-set two-door attacks apices ferociously. It’s a total hooligan, egging you onto the throttle ever earlier to play with its gorgeous balance and the perfect amount of safety net in Dynamic mode.

That it weighs nearly 1.8-tonnes with driver seems entirely implausible given how capable, malleable and enjoyable the M2 manual is. Its excellence is emphasised after sampling it back-to-back with the Supra. Both cars use BMW parts, boast 50:50 weight distribution, and have two doors but that’s where similarities end.

Where you sit in the Supra is everything. That long bonnet juts way into each bend, so much so that you need to recalibrate your turn-in point (a mental exertion not aided by rubbery steering).

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Being right over a rear axle that could use some more rebound control – even in Sport mode – is off-putting initially, too.

The Supra demands concentration and a unique approach. Its manual shift is tighter than the M2’s and smoother than the Evora’s making it the best here and, once you tune into the rear axle’s information overload and get a bit more aggressive on turn-in and braking, the Supra GTS comes alive. This old-school sports car doesn’t compromise for the driver, you compromise for it.

“What does the criteria for success look like for Supra?” Andy remarked as he emerged from the coupe, “Were they just driving around a race track at 10/10ths?” Andy’s right, the Supra comes alive at the limit, which is where the problem lies.

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The chassis is fighter-jet responsive but thanks to the soft bushes and rear suspension, it can be hard to trust on the road. This becomes especially pronounced in the wet.

In Matte White ($1800), the Supra is also right up there with the Corvette for visual drama. Kids, teens and young adults obsessed with car culture know exactly what this car is and love to see it on the road. For those less aware of the Supra nameplate’s underground fame, the cab-rear proportions akin to a 70s sneaker are also a draw. It’s far more exotic than the BMW.

That does impact its usability. The cupholders, for example, are in a daft spot in automatic Supras and even worse place in the manual, rendering them entirely useless for anything but keys or a wallet. The door cards are tiny, too, and the boot has the least usable shape here.

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This is frustrating because owing to the vibration refinement – after the Emira it feels like someone's drizzled honey over the Supra’s mechanical parts – it would probably be the best grand tourer here.

That under-stressed 285kW/500Nm 3.0-litre straight six has so much linear grunt overtaking is no chore, even if there’s little point pushing beyond 6000rpm.

The Supra experience is a little inconsistent, then. With the manual, there’s engagement and wow-factor when cruising and it’s a hoot to drive at the limit – at least when you have space at your disposal. Unfortunately, the Toyota can be clumsy at typical road speeds where the Emira and BMW impress and delight at all times.

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Gazoo Racing will be able to take Supra to another level of focus with firmer bushings, a sharper engine (it’s got to be the M2’s S58) and some snug bucket seats.

If the Supra garners attention from those in the know then the Corvette is the car to buy to impress the average onlooker. In Rapid Blue with racing strips, the C8 3LT demands eyeballs. The baritone bellow of that dry-sumped 6.2-litre ‘LT2’ alloy-block V8, however, commands all the driver’s attention – even next to the Mountain Dew-motivated cabin design.

This global ’Vette is Chevy’s first attempt at playing the Euros at their own game with a mid-mounted engine (yes it still uses pushrods but that’s easy to ignore at wide-open throttle) and clever multi-mode Magneride dampers.

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On the road, it’s amazingly comfortable and composed, which aren’t two things traditionally associated with Corvettes.

Amp the 3LT by swapping from Tour to Sport or Track and the chassis becomes stiff and limits body roll. Despite looking by far the largest here, the C8’s 1601kg kerb weight is relatively spry, certainly next to the flabby M2.

And yet the way it drives is heavy and lumpen. Mid-corner bumps are pummelled into submission, rather than deftly danced over as they are in the Lotus and BMW. For safety, the Corvette’s been set up to gently understeer through corners which is no bad thing on the road.

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Yet after the other cars here, we found its steering and chassis didn’t communicate grip levels very well.

It feels spiky in slower corners with damp patches causing surprise oversteer for two testers – perhaps the cab-forward design that leaves so much wheelbase behind is to blame as it’s something other Wheels testers have found over the years.

Moving to more open roads is a good call in the Corvette, as it allows you to extend the gem that is the LT2. It roars through the revs, each slick upshift and crisp downshift of the eight-speed dual-clutch automatic a chance to delight in a sound that won’t be around forever. Removing the roof panel (and storing it in its tailor-made spot) allows you to bask in open-air excellence.

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The Corvette should be the quickest here, too, with the most power (369kW) and torque (637Nm) but Chevy’s 2.8-second 0-60mph claim is unrealistic.

This very car attended Motor’s Performance Car of the Year where it was timed at 3.63 seconds to 100km/h; seven-tenths faster than the other cars here but not sub-three fast even for the American measure.

The Corvette has a lot of luggage space, with front and rear boots it’s able to carry two sets of golf clubs (it’s at this point Andy points out that the Corvette looks like a ute with its fibreglass rear hatch up). And here lies the C8’s main issue. In regular Stingray guise without the coming Z06 package, it’s a car for everyone – a car by committee.

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Take the interior, its touchscreen is responsive and graphics handsome, but it’s like an executive wasn’t pleased with having to adjust HVAC settings using it, hence the row of switches awkwardly running up the cabin’s central ‘spine’.

The cup holders feel like an afterthought, too. It’s the same with the door ‘handles’, the ones inside are sleek, hidden electronic items ruined by the United States’ mandates for emergency pull-tab releases to avoid potential lawsuits.

That excess complication is potentially the source of the C8’s rattly cabin – and the white leather hasn’t stood up so well to the test of time. There’s a purity in the Corvette’s design that we hope the Z06 will help to unlock.

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Heading up our chosen length of tarmac for the last time I switch the Emira into Track (the most intense of four) and relish the fixed-rate dampers.

There are no additional settings for brake feel, traction control or driver aids to futz with – “no drive mode FOMO”, as Dylan says. It’s fabulously freeing.

For the next five kilometres, the Lotus transforms Lake Mountain into a tarmac rally stage and me into Jean Ragnotti.

Its eager V6 shrieks towards the 6800rpm redline in its tall second gear, then it’s time to muscle the metal knob through the gate into third and quickly release the clutch for a delightfully crisp motorsport-esque change. What feels clumsy and knuckly in traffic rewards and delights in equal measure when hustling, funny that.

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The Emira’s Edelbrock-supercharged V6 produces 298kW at redline and 420Nm at 3500rpm which makes it the slowest here on paper but there’s no lack of urgency in the powertrain.

It revs up amazingly quickly – as though it has a lightweight flywheel – and delivers grunt in a delightfully linear way. Andy's a little nonplussed though at the engine's torque plateau.

“It might almost have been an electric car. ”Engine tech has virtually overmatched the requirements of the gearbox. I just hear a zizzing whine and I didn’t need to change gear once through four kilometres of twisties.”

Our car is fitted with the ‘Sport’ chassis, with stiffer springs, dampers, and more aggressive alignment than the ‘Tour’ option. Uniquely, this blue car combines this chassis with the less tacky Goodyear Eagle F1 tyres instead of Michelin Cup 2s. This seems to be a perfect match, there’s plenty of compliance in the chassis with lots of front-end grip and just enough power to bring the rear into play.

You end up using the Emira’s confident brake pedal to develop attitude on the way into a corner, the way you might in a Porsche 911.

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No coincidence here, the 1486kg Emira’s weight distribution of 39:61 is closer to a rear-engined 911 than a midship Cayman (44:56). To extract the best of the Emira you need to be deliberate but delicate at the same time, which is immensely rewarding.

It’s the steering and chassis feel that endears the Emira to the driver, though. The way that wheel writhes and wriggles over cracks and surface changes yet is still accurate and fast in ratio is delightful.

Dylan remarks that the steering reminds him of a Ferrari’s and that if this sexy sports car was wearing a Prancing Horse badge and painted red it would make a great new-world 246 Dino. An interesting thought.

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Even more interesting is deciding a winner between these four. Where’s the Cayman when you need one?

A GTS 4.0 would’ve made this decision easier but as Andy noted, where a Cayman is at ease, the imperfect Emira is fizzing with feel. As for the M2, it has a unique character all to its own, dripping with hooligan charm. The old-school Supra makes you feel alive, while the new-school Corvette is the pick for boulevard posing though it’ll still boogie and thrill in correct conditions.

There has to be a winner and, despite their charms, it isn’t going to be the Supra or the Corvette. In both cases, more focused versions – the coming GRMN and Z06 respectively – will give these chassis the extra focus and crispness they need.

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The Supra deserves extra praise for offering such a special package for under $100K before on-road costs.

That means first spot is a battle between the M2 and Emira, a tricky pair to split because they’re so different. The M2 has layers, it Dr Jekylls and Mr Hydes with equal measures of excellence, only rarely sacrificing ultimate thrills to the Emira.

The gearshift could be better and the optional bucket seats are a fail, but thanks to an amazing engine, daily comfort, exciting chassis, and $80,000 lower starting price it’s very hard to overlook the M2 – especially if it’s going to do double-duty as a regular ride.

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But it’s no Cayman analogue. As fun as it may be, the M2 doesn’t have the poise, composure or grip of the Porsche.

There were times the Emira was draining. The wireless Apple CarPlay made my phone malfunction, the sound system couldn’t overcome the road noise roar on the freeway, it wasn’t glamorous to take phone calls in and the Toyota V6 – although great at high rpms – is workmanlike and chuntery around town; an issue common with the Cayman GTS.

Yet the Emira has higher highs: that pure steering, the shrill bark of the V6, and sheer poise made it a personal favourite over two days of testing. We all laughed, sweated, and whooped with joy behind the wheel of the Emira, and after all, is that not the point of a sports car?

The aim of this test was to find the best Cayman alternative and that’s the Lotus. It truly would have given the Porsche a run for its money, but that rematch will have to wait until the new-gen 718 arrives in 2025.

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Cabins

BMW M2

The most conventional here. A nicely laid-out dash with some sporty carbon fibre.

Lots of tech in the centre screen that works brilliantly, but the driver’s display is over-designed – there are too many choices! Choice extends to the optional buckets that are great with the auto but the ‘nutcracker’ between the knees doesn’t work with the M2 manual’s offset pedals.

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Chevrolet Corvette

Designed by an aircraft-obsessed teenager after one too many Mountain Dews?

Maybe, whatever the cause the C8’s cabin is decidedly different. Usability is okay, although the touchscreen is dimwitted and storage is limited given the ’Vette’s size. Sheer wow factor and customisability is the Chevy’s strength, and the seats are pretty comfy, too.

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Lotus Emira

Perfect expression of Lotus DNA for the future.

The designers have fought to keep gem-like features such as the gorgeous exposed shifter, though it’s melded with an up-to-date responsive touchscreen from the Geely arsenal. Volvo indicators would be a negative but they’re a lot nicer than the original Elise’s Vauxhall-sourced items.

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Toyota Supra

At a glance, the Supra is pleasingly different, though the switchgear all comes from a previous-gen 3 Series.

A bespoke digital driver’s display is the only Toyota-designed feature, otherwise, it’s ‘just’ a BMW. Careful with your head on the way out, too, though the Supra does have an excellent driving position, comfy chairs and a unique view out.

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Style and substance

If you’re hell-bent on getting a Cayman, Porsche has 718 Style Editions in stock.

Based on the standard Cayman, it comes with stickers, a 220kW/380Nm turbo-petrol, flat-four, Xenon headlights, with PDLS active high beams and the same 7.0-inch touchscreen for $138,325.

With adaptive suspension, the 718 Style Edition is capable and balanced, yet it misses out on the steering feel of the Lotus with its electric power steering rack. It’s still a great vehicle, but for those chasing the sort of thrill a Cayman GTS will dish out, the might leave you a little underwhelmed.

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Overmoded

Customisation is king, or is it? The M2 has 10 adjustable parameters with between two and 10 different settings for everything including brake feel.

The brake-by-wire Corvette comes close with four set modes adjusting sound to Suspension from Tour to Track with two fully customisable configurations: My and Z modes.

Comparatively, the Supra is simple with Normal and customisable Sport button that adjusts throttle, damper, steering, and aural behaviour. The Emira is less complex again, only adjusting the tri-modal exhaust, stability control and throttle response over its three progams. In a world where you can adjust almost every parameter, the Emira’s simplicity is refreshing.

BMW M2 score: 8.5/10

Chevrolet Corvette score: 8/10

Lotus Emira score: 8.5/10

Toyota Supra score: 8/10

Specifications