An ugly bread van doesn't do it for me. Economy is pretty much irrelevant if you can afford to buy a performance car. Not to mention they are not worth the paper they are written on (Modern MPG calculations are done different to those of old).
Why should high performance cars be reserved for those who are seriously well off? Economy is a vitally important factor for many buyers who can't afford to have a daily driver and a weekend car but want the best of both worlds.
An M135i is cheap for what it is, cheap to run, it's basically giving the buyer M3-like performance without the extortionate running costs. There maybe some truth in what you said about MPG calculations but the M135i is not a great example as many reviewers are exceeding BMW's quoted 37mpg easily.
Looks, well they're just subjective so there's no point in arguing that. The 135i looks much nicer in the flesh than it does in the pictures. I personally love the understated and non-aggressive look. It looks like it could be a 118d when in fact it's monstrously fast and capable of upsetting some seriously expensive and fast cars.
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