BMW has released a cut-down version of its powerhouse M5 sports sedan – and this one cuts the price-tag way deeper than it slashes lap times.

WHAT IS IT? A bargain, that’s what. By deleting a few choice options and removing the regular M5’s standard Competition Pack, BMW has sliced $45,000 from the sticker of its iconic super sedan.

WHY ARE WE DRIVING IT? It’s not every day a car company calls to offer exclusive access to an empty racetrack and a new, special edition, M5. So when BMW picked up the phone, we came running.

MAIN RIVALS Audi RS7, Mercedes-Benz E63 S, HSV GTS

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PLUS: Huge saving for minimal loss of performance; blunderbuss power MINUS: Some more steering feel would be nice; interior not as special; lacks the regular M5’s aural fireworks

THE WHEELS REVIEW SLAPPING a Pure badge onto the rump of a BMW M5 creates certain expectations. Particularly when BMW itself says this new Pure special edition is “raw and track-inspired”. This makes you think the Pure M5 will be a stripped-out special with less weight, fewer luxuries and a greater focus on hard-core performance. Could it even be an M5 CSL?

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It leaves you with the realisation that BMW has tried to create a track-inspired special by deleting the track-inspired package. That’s enough to hurt your brain.

Where the Pure badge really makes sense is with its new, $185,000 price tag. That’s $44,540 cheaper than the normal M5.

Dropping the Competition Pack gear obviously saves some serious coin, but the Pure also does without some of the regular car’s lavish standard equipment and a few key options.

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After performance testing at Sandown Raceway, we can confirm it’s the former. Losing 11kW has done nothing to blunt the M5’s ballistic straight-line performance and, while its 4.4-litre twin-turbo V8 has plenty of low-down punch, its party trick is above 4000rpm and the way it pulls relentlessly and rapidly to the 7500rpm redline.

There’s nothing lost through the corners, either. It’s true that the Pure’s higher ride height means there’s slightly more roll onto the outside tyre at corner entry, but there’s still the same pointy front axle and super-glue levels of mid-corner grip.

Of course, get too excited with your right foot and the Pure will demolish its rear 295/30 rear tyres with an unforgiving tsunami of torque. Feed the throttle in, though, and there’s traction to burn.

Is the M5 Pure not enough car for you? Then check out this drive video of the BMW M5 Nighthawk.

All this means that when you hook the Pure up, it’s a breathlessly quick super-sedan. But it’s not perfect. While the steering is smooth and fluid in its rate of response, there’s still not enough communication between the front wheels and the wheel in your hands. The Pure’s standard exhaust also means you lose some of the M5’s aural fireworks.

So should you feel ripped off if you’ve just dropped $230K on a normal M5? BMW, naturally, says you shouldn’t. The purpose of the Pure is to expand the reach of M5 to different people at a different price point.

But the reality is, the Pure offers 99 percent of the regular M5’s performance for a fraction of the cost. It’s marginally slower and slightly softer, and its interior is a little less special, but in real-world traffic on real-world roads, we’re willing to bet you’ll appreciate the $45K saving more than the loss of a tenth in the rush to 100km/h.

If a BMW M5 is on your shopping list, this one’s a bargain. Pure and simple.

SPECS Model: BMW M5 Pure Engine: 4395cc V8 (90°), dohc, 32v, twin-turbo Max power: 412kW @ 6000-7000rpm Max torque: 680Nm @ 1500-5750rpm Transmission: 7-speed dual-clutch Weight: 1865kg 0-100km/h: 4.3sec (claimed) Fuel economy: 9.9L/100km Price: $185,000 On sale: Now