The all-new 2021 BMW M4 was always going to get people talking. A supercar is just a pipe dream for most of us, but cars like the M4 are attainable dreams. If you can’t afford one now, you might be able to when they hit the used market a few years down the line.

But there’s more to the buzz over the 2021 M4 than that. First there’s that controversial new nose, already seen on the regular 4-series Coupe. And second, there’s an optional xDrive transmission coming mid-year. Never before has an M4 (or its M3 coupe predecessor) been equipped with all-wheel drive. Don’t fret too much though: the rest of the package builds on last year’s M4, but with more power, and more attitude.

We got a chance to drive the 503 hp rear-wheel drive M4 Competition on both road and track. Here’s why we think it’s great – and why it maybe just falls shot of greatness.

The essentials: The BMW M4 is on sale now priced from $71,800 for the standard car, and $74,700 (£76,055 in the UK) for the more powerful Competition.

What We Liked

It Has Street Presence

Say what you want about that new nose, but the new M4 is definitely going to turn heads, if that’s your priority. The old car’s hood bulge is gone, replaced by a pair of what look like vents but aren’t. And although the flanks are cleaner than before, you still get swollen arches and the upward kick of the rear side glass adds more muscularity. Base cars run 18-inch front wheels and 19s at the back; Competition cars come with 19s and 20s. This car’s Sao Paulo yellow paint stands out, but it’s not that nice.

Choose From Big Power And Bigger Power

The 3.0-liter S58 straight six sends 473 hp to the rear wheels along with 406 lb ft (550 Nm) of torque, but the Competition model we drove improves those numbers to 503 hp and 479 lb ft (650 Nm).

That compares with 425 hp and 406 lb ft for the old M4 (or 444 hp for the Competition variety) and 405 hp for the little M2, and makes the latest M4 Comp outrageously rapid in almost any situation. There’s very little turbo lag, and so much mid-range torque that it’s easy to set the traction control light strobing when you stand on the gas, even on dry pavement.

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BMW says the M4 gets to 60 mph in 4.1 seconds, and the Competition in 3.8 seconds, compared with 4.3 seconds for the 382 hp all-wheel drive M440i. We ran a few drag races with a PDK-equipped Porsche 992 Carrera (4.0 seconds), which left the rear-drive M4 standing for the first 40 yards every time, but was soon a spec in the BMW’s mirror thanks to the M4’s 124hp advantage.

The M3 And M4 Remain Hoon Machines At Heart

If you live in the snow belt, grew up with front-wheel drive and all-wheel drive cars, or just don’t like the idea of giving that 911 some 40 yards before reeling him in, we can see why you might be tempted by the xDrive M4 coming later this year, particularly because you’ll be able to change to rear-wheel drive at the touch of a button.

But everyone else will be pleased to know that the latest M4 is as happy to melt its rear rubber through a curve as the last one. Setting the back end free is a cinch with all that torque on hand, and you get an electronically controlled rear differential as standard to manage it.

Spend an extra $900 on the M Drive Professional option and a drift analyser records the duration, distance and angle of your slide. And for those who like to keep things neat, the same option’s M Laptimer helps keep check of your best times.

Those Optional Sports Seats Will Spoil You Rotten

There’s absolutely nothing wrong with the standard M4 sports seats, but once you’ve seen and sat in the optional carbon buckets, it’ll be hard to settle for less. But if it makes you feel less sad about not being able to afford the $3800 it costs to buy them, you might like to know the raised carbon harness runner between your legs feels awkward.

It’s As Practical As A Family Sedan

The M4’s 3-series origins are a huge asset if you’re looking for something that is both fun and family friendly. The trunk measures 15.5cu ft/440 liters, which is more than three times what you get in a sports car like the Porsche 911. And While a Corvette offers almost as much trunk space, it only seats two.

The M4 is also significantly roomier than both the Nissan GT-R and its own BMW M2 little brother. And if you need even more practicality, there’s always the mechanically identical M3 sedan. Or better still, for the first time, a Touring, though that won’t be around for at least another 12 months and it won’t be coming to North America.

And Here’s What We’d Change

Twitchy Steering

When Ferrari switched to super-fast steering ratios a decade ago we took every corner like we were driving around The Pentagon until we got used to making smaller wrists inputs. The new M4 feels similarly unnatural on first acquaintance.

Its fast rack helps create the impression of a sharper turn-in to racetrack corners but it can also feel over light and nervous, especially if you’re trying to balance the car in one of those 100-yard slides it begs you to pull off. It’s much less of a problem out on the road in real conditions, but still takes some getting used to.

It’s No Substitute For a Proper Sports Car

The M4 might accelerate like a sports car, but throw stopping and steering into the mix and you’re reminded of both its 3880 lb (1760 kg) weight and its sedan origins. Hot lapping with the 911 we name-checked earlier, we found we couldn’t brake as late in the M4, or make its tires last as long, and simply didn’t feel as connected through the steering.

You Can’t Pair The Competition With A Manual Box

It’s great that you can still get a BMW M3 and M4 with a manual transmission, but not so great that it only comes with the base car. Step up to the Competition (the only version available in the UK) and you have to have an automatic. And it is an automatic, not a DCT. That means it has better traffic manners than the old M4’s twin-clutch, and is pretty swift going up the gears. But it’s no match for a Porsche PDK on the way down.

Its Naturally Aspirated Ancestors Still Sounded Better

The M4’s S58 sounds pretty fruity for a modern turbocharged engine, and US cars without the sound-sapping OPF particulate filter on the car we drove should sound even better. But when it comes to sonic drama this S58 is no match for the naturally aspirated 3.2-liter S54 straight six in the E46 M3 or 4.0-liter S65 V8 in the E92 version that followed. But little is, these days.

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At least the tailpipes you see are proper exhaust pipes, and not just fake plastic finishers you see on so many performance cars and even supercars. But if you want to make the M4 sound stronger check out the optional M Performance exhaust that saves more than 10lb/4.5kg and looks like it escaped from NASA’s R&D department.

The Verdict

Even some committed BMW fans are going to struggle to look past the controversial new face, and that’s a shame. Because behind it is an M4 that’s faster, more agile and more exciting than the car it replaces, and one that still costs $40k less than Nissan’s ageing GT-R.

It’s a shame you can’t pair the Competition engine with a manual transmission, and we wish the steering felt a little less nervous, but if you’re looking for a performance car you can use 24-7, and that’s both roomier and more rapid than BMW’s own M2, the M4 should definitely be on your list.