The all-new BMW 2 Series has launched in Australia, priced from $50,500 plus on-road costs.

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The new 2 Series is the replacement for the old 1 Series coupe, using the same platform as the latest 3 Series, but with a shorter wheelbase and track.

BMW’s new two-door family is available from launch in three model grades: the entry-level petrol-powered 220i, the $52,500 220d, and the range-topping M235i high-performance model.

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By comparison, the 220i, which comes with an eight-speed sports automatic transmission with paddleshifters and launch control - is $465 less than its equivalent 120i coupe with six-speed auto. It’s also $600 more than its nearest rival, the Mercedes-Benz CLA200 four-door coupe.

Equipped with the latest turbocharged 2.0-litre four-cylinder petrol engine from the 3 Series, 5 Series, X1 and X3 models, the BMW 220i makes 135kW between 5000-6250rpm and 270Nm of torque between 1250-4500rpm – up 20kW/70Nm on the outgoing 120i, and down just 25kW of power on the old 3.0-litre six-cylinder 125i.

BMW claims the 220i will sprint from 0-100km/h in 7.0 seconds (down 2.2sec) and combined fuel consumption of 6.0 litres per 100km (down 21 per cent).

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The new 220d is $8580 cheaper than the 123d it replaces. Outputs of 135kW at 4000rpm and 380Nm between 1750-2750rpm leave the new twin-scroll turbocharged 2.0-litre four-cylinder diesel engine 15kW/50Nm off the pace of the old twin-turbo unit, though, its only 0.1sec slower to 100km/h at a claimed 7.1 seconds, while 20 per cent more fuel efficient (4.4L/100km).

Stepping up to the flagship BMW M235i will cost $4800 more than 135i coupe it replaces, and no less than $15,000 more than the M135i hatch, on which it is based.

The M235i’s turbocharged 3.0-litre in-line six-cylinder powerplant produces 240kW between 5800-6000rpm and 450Nm of torque between 1300-4500rpm, giving it a 5kW advantage of the M135i and 15kW/50Nm more than its 135i coup predecessor.

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The M235i will reach triple figures in a claimed 4.8 seconds, making it 0.1sec quicker than the hatch and 0.8sec better than the previous coupe.

Fuel consumption is also set to fall from the 135i coupe’s 8.6L/100km to the hatch’s 7.5L/100km.

The new 2 Series coupe’s extra dimensions over the 1 Series version (72mm longer and 32mm wider) translates into 20mm greater front headroom and rear legroom, while boot space grows 20 litres to 390L in total.

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BMW also claim to have lifted the level of standard specification for the 2 Series range with the 220i and 220d variants featuring 17-inch light-alloy wheels, automatic climate control air conditioning, cruise control with braking function, rear parking sensors, auto start/stop with push-button start, auto lights & wipers, multifunctional sports leather steering wheel, 6.5-inch infotainment screen with iDrive Controller and satellite navigation.

In addition, there’s Bluetooth phone and music streaming, auto-dimming rear-view mirror, brake pad wear indicator, brake energy regeneration and BMW’s Driving Experience Control – enabling adjustment of drivetrain settings.

Both 2.0-litre models come with a choice of either Sport or Modern Lines, which add a range of different trim and detailing (at no cost) including ambient lighting, unique alloy-wheels, contrast stitching and special badging on the front side panel.

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Options include 18-inch alloys with split tyre sizes ($1550); M sport suspension ($600) and Dakota leather upholstery ($2200).

There’s also an M Sport Package available ($5700), which adds a host of performance enhancing equipment including M aerodynamics, M leather steering wheel, M rear spoiler, M sport suspension and leather trim.

Individual options exclusive to the M Sport Package include Estoril Blue metallic paint ($1485, M sport brakes ($1300) - four-pot front, two-pot rear, and adaptive M suspension ($1400).

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BMW also offers four individual equipment packages across the entire 2 Series line-up: Advanced Parking Package ($1820 – 220i/220d & $1300 – M235i); Visibility Package ($3250 – 220i/220d; Professional Multimedia Package ($3120 – 220i/220d), and the Comfort Package (3120) across the entire 2 Series range.

The Advanced Parking Package includes front and rear parking sensors, parking assistant and rear-view camera.

The Visibility Package adds adaptive headlights, bi-xenon headlamps, exterior mirrors with auto-dimming function and anti-glare high-beam assist.

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The Professional Multimedia Package includes Navigation System Professional, 12-speaker 360-watt Harman Kardon sound system, DAB digital radio, instrument cluster with additional functionality and Internet connectivity.

The Comfort Package comes with keyless entry and exterior handle area lighting, electric seat adjustment; auto parking function for passenger side exterior mirror, electric lumbar adjustment and heated front seats.

The M235i adds18-inch M light-alloy wheels with split tyre sizes (225/40 – front, 245/35 – rear), twin exhaust pipes in black chrome, M aerodynamics package, M rear spoiler, front parking sensors, bi-xenon headlamps, Interior lights package, leather upholstery, M leather steering wheel, seven-speaker 205-watt audio system and internet functionality.

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Additional equipment standard in the M235i includes an 8.8-inch infotainment system with satellite navigation and 20GB storage for audio files, anthracite roofliner, adaptive M suspension (which lowers the car by 10mm) and variable sport steering.

The safety equipment fitted as standard in the BMW 2 Series Coupe includes six airbags, stability control with traction control, anti-locking brakes with brake assistant and cornering brake control and tyre pressure indicator.

BMW says that if the new 2 Series Coupe follows the sales performance of its predecessor, the volume will be in the M235i. However, they also acknowledge that the 220i is up 20kW with 25 per cent improvement in fuel consumption and much quicker than the car it replaces, so it might be a more desirable entry level then in the 1 Series Coupe.

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BMW 2 Series Coupe manufacturer’s list prices:

220i - $50,500

220d - $52,500

M235i - $79,900