Small segment it may well be but demand for roadsters hasn’t vanished. BMW, having linked up with Toyota to share the cost of developing a third generation Z4, has made quite the success of their JV. To such an extent that the model outsells the Supra almost ten-fold in Europe.

Revealed in 2018, the G29 series model has been available since the following year. It has seen off a few rivals since then, notably the Audi TT, whilst also having had a mid-life facelift as well as certain model year tweaks. Key markets are Germany, the US, China, Japan and the UK.

Re-engineered drivetrain

Now, to maintain the sales momentum during the second half of its life cycle, a manual transmission has become available for the 2,998 cc inline six-cylinder engine. Previously, only the least powerful of two four-cylinder alternatives could be ordered in non-automatic form, that being a 145 kW (197 PS) 2.0-litre unit.

BMW says the newly offered gearbox was engineered with new ‘M-specific components’ for its pairing with the B58B30O1 engine. That includes changes for the gear set and shafts, the idea being to provide the pleasure of a precise and dynamic shifting experience for customers who prefer a manual gearbox. The ZF eight-speed torque converter automatic continues to be available.

There are no changes to power or torque for the 3.0-litre turbo, these being 250 kW (340 PS) and 500 Nm (369 lb-ft). Reason being, performance was already very brisk and the car remains far from overweight, something which is becoming a rarity in the era of electrification. Speaking of which, the engine has mild hybrid technology and consumption – at better than 30 mpg – is fairly good for the performance on offer.

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Differently sized alloy rims

The Handschalter gets unique wheels measuring 19 inches at the front and 20 at the back plus retuned suspension. Other new features include glossy ‘Shadowline’ trim which includes the badges on the car’s sides and rear, while the mirror covers are finished in high-gloss black.

Z4 geeks will also spot some specially designed aerodynamic flaps plus red brake callipers. Also, the pictured car shows a new colour called Frozen Deep green metallic, this being exclusive to the Handschalter.

Specific changes continue inside, a few examples being a unique sleeve on the centre console which surrounds the shift lever as well as cognac-coloured Vernasca leather with black piping. High-gloss pieces of plastic trim also feature, designed to complement the seats and door panels.

A sports car for all seasons

The engine sounds as glorious as ever, especially with the roof lowered. And I was very happy to see seat and steering wheel heating fitted to the test car. Those two features do wonders to make this an all-seasons roadster.

Something else which helps you fall in love with the Z4 and likely keep you feeling that way is how it drives. The car’s width isn’t excessive, wind noise is mostly absent and the weight distribution is close to 50:50. Add an especially clever traction control system plus M Sport differential and what you get are always-safe rear-wheel drive thrills even on narrow B-roads in winter.

Those buyers whom BMW is seeking for this car won’t mind in the least that the clutch pedal needs a solid push; in fact they will like this very much, it adding to the old-school appeal. The gearchange itself is also wonderfully precise and demands a firm hand, making shifts all the more satisfying.

Better than a Boxster?

As manual transmission is rapidly disappearing from sports cars and cars in general, the arrival of the M40i Handschalter is especially welcome. Porsche also continues to offer the Z4-rivalling Boxster with a manual gearbox as an alternative to what is a standard PDK, proving that the demand is still there. There is however no doubting the fact that both the desire for such vehicles and transmissions is greatly diminished.

Buyers for these rival roadsters might in fact be different people entirely, the cars being more distinct than might be imagined. The Z4 has the feel of a BMW from a decade or more ago, while the interior has a similar ambience. These are great things. The Porsche feels older still – indeed it is fairly aged now – and even more raw in its dynamic appeal. Yes the Boxster is the sharper drive but there isn’t much in it. Brand loyalists will love each for their particular quirks.

Will there be a successor?

How long Magna Steyr Fahrzeugtechnik will continue to manufacture the Z4 is open to speculation. Some believe the Graz plant in Austria might even end build in 2025, which is when the Supra is due to fade away. Toyota recently stated this fact and announced an ‘A90 Final Edition’ for Europe and possibly Japan too. The silhouette will remain for racing though, a ‘V8 Supracar’ having been confirmed for Australia’s hugely popular V8 Supercars formula commencing in 2026.

BMW won’t comment on what it might or might not be planning for the future when it comes to a new roadster. Whatever it does end up doing, the new M40i with manual transmission could well be eventually seen as peak G29.

The BMW Z4 M40i Handschalter is priced from GBP63,230. Zero to 62 mph takes a claimed 4.6 seconds, top speed is limited to 155 mph, Combined economy is 32.5 mpg and CO2 emissions are 197 g/km.