Across the range there are several updates inside and out, including new LED headlights and tail-lights, revised interior trims, and the introduction of BMW's latest iDrive 6 infotainment system - including an 8.8-inch display which can be controlled via touch inputs or by the more familiar rotary dial on the centre console.
New for 2017 is an entry-level M4 Pure coupe variant (arriving in July), bringing the base price down by $10,000 to $139,900 (all prices excluding on-road costs).
Despite being much cheaper than the 'regular' M4 and the M4 Competition, the Pure gets the same 331kW/550Nm engine tune as the full-fat Competition package, while offering a "further focused" level of specification.
Standard equipment on the M4 Pure includes the aforementioned M Competition Package, a BMW M head-up display (HUD), carbon-fibre roof, comfort access, ConnectedDrive Freedom including concierge services, driving assistant, carbon-fibre interior trims, navigation system professional, tyre pressure monitor, cloth/leather trim, LED headlights, and a nine-speaker HiFi sound system.
The Pure also gets unique 19-inch double-spoke black light alloy wheels, wrapped in 255/35 R19 front and 275/35 R19 tyres. For those wanting larger rims, the M4 Competition's 20-inch light alloy wheels with 265/30 R20 front and 285/30 R20 rubber are available as a cost option.
Meanwhile, the 'standard' M4 carries over the slightly less peppy 317kW/550Nm tune of its predecessor, pitched as a more liveable option compared to its Pure and Competition counterparts thanks to its 'standard' suspension tune.
Starting at $149,900 for the coupe and $161,900 for the convertible, specification for the M4 remains largely unchanged with the exception of the new LED head- and tail-lights, along with the revised interior trim elements and new iDrive 6 navigation and infotainment system.
Finally, the M4 Competition coupe and convertible remain atop the range, starting from $154,900 and $165,900 respectively.
Compared to the M4, the Competition variant gets the higher-output 331kW/550Nm version of the 3.0-litre twin-turbo straight six, along with a 15 per cent firmer version of the standard adaptive M suspension - with the Comfort setting of the Competition being the equivalent of the standard M4's Sport mode - while the coupe also gets M Sport front seats.
Additionally, the M4 Competition gets gloss black highlights for the M4 bootlid badge, tailpipes, exterior gills, and front grille. The Competition's 20-inch star-spoke light alloy wheels can also be optioned in black for the first time.
The M4 and M4 Competition LCI variants will arrive in Australia from June, while the M4 Pure will launch one month later in July.
BMW has also confirmed the hardcore M4 CS (Club Sport) will be offered locally in limited numbers - bringing the total number of variants to four - and will likely arrive around October.
UPDATE, July 27: The M4 CS is now available in Australia. Details here.
2017 BMW M4 pricing (plus on-road costs)
M4 Pure coupe - $139,900
M4 coupe - $149,900
M4 Competition coupe - $154,900
M4 convertible - $161,900
M4 Competition convertible - $165,900