Sports car fans not wanting to burn a hole in their pockets can now rejoice; McLaren has added another model to its highly popular Sports Series, which is being termed as its most affordable car series to date. The all-new McLaren 540C coupe, just revealed at the Shanghai Motor Show, will be priced at a modest £126,000 ($188,000) placing it right below the Super Series and the Ultimate, and squarely in the price range of the Porsche 911 Turbo.

Apart from the price, there is not much difference between the 540C and McLaren’s pricier model of its Sports Series, the 570S. The 540C comprises of the company’s basic 3.8-liter twin-turbocharged V8 which makes 532 hp (540 PS) at 7,500 rpm and 398-lb ft (540 Nm) of torque at 3,500 rpm, powering the rear-wheels through a seven-speed dual-clutch transmission which enables the car to go from 0 to 100 km/h (62 mph) in 3.5 seconds, with a top speed of 320.25 km/h (199 mph).

A perfect combination of speed and luxury, the 540C includes all the features one would expect from a luxury sports car; apart from speed modes ranging from normal to track, the car also has a 7-inch touchscreen, Bluetooth and navigation. The McLaren 540C is expected to go on sale globally by 2016.