BMW’s 1 Series M is heading out of production, and (as far as we know) all inventory has already been spoken for. If you missed your chance to buy one, BMW will soon offer you the next best thing: the 2013 135is.

Available in both coupe and convertible flavors, the 135is comes with a TwinPower Turbo 3.0-liter inline-six, good for 320 horsepower and 317 pound-feet of torque. A performance exhaust system ensures that the car sounds good, too, and a larger capacity radiator should be able to handle the stress of summer track days. Buyers can choose from a six-speed manual transmission or BMW’s seven-speed dual-clutch gearbox, ensuring that the 135is has broader appeal than the 1 Series M.

Underneath, the 135is gets a sport suspension, although we’re pretty sure it won’t allow the same cornering speeds as the M-designed suspension on the 1 Series M. The 135is comes with the now-required electronic stability control, but traction and stability control can be dialed back for a bit more fun on dry roads. For track days, both systems can be defeated entirely, which is good news for driving enthusiasts.

The cars will hit dealer showrooms this fall, with prices starting at $44,145 for the coupe and $48,845 for the convertible. We doubt these will be limited production, either, meaning that there should be plenty of inventory for all interested customers.

We don’t want to sound ungrateful, but quite frankly we’d rather see the M135i hatchback that Europe is getting. Forget the idea that Americans don’t want hatchbacks, especially when they look as good as the M135i three-door hatchback concept that BMW exhibited in Geneva.