Nissan has cut the cost of its 370Z coupe to give the sports car a fighting chance against the Ford Mustang and Toyota 86.

The brand’s entry-level sports car is now available for $49,990 plus on-road costs, a significant discount from the car’s previous $56,930 price.

Priced up to $7440 less than before, the 370Z retains its 3.7-litre naturally aspirated V6 engine that offers 245kW and 363Nm outputs, but offers sharper styling with reprofiled bumpers.

The change comes after Nissan slashed the sports car’s prices in November 2013, ripping $12,960 out of its coupe. Spare a thought for anyone who bought a Nissan 370Z coupe in mid-2013 for $69,890 plus on-road costs.

Those who did might be ready to upgrade to the new range-topping 370Z Nismo. Priced from a sharp $61,490 plus on-road costs in six-speed manual form (or $63,990 as a seven-speed auto), the Nismo-tuned 'Zed' follows the new Nissan GT-R Nismo as the ultimate version of its two-door sports car.

Nissan is not ready to confirm full details surrounding the model, which brings sharper looks and performance to the brand’s lineup. But we can confirm that the 1480kg coupe will offer 253kW of power – 8kW more than the regular model – thanks to a harder-revving version of the 370Z’s V6.  

2017 Nissan 370Z pricing:

370Z Coupe          $49,990      (-$6400)

370Z Roadster      $60,990      (-$4940)

370Z Nismo          $61,490     

(Plus on road and dealer costs. Automatic +$2500)

• For all the latest info, visit our Nissan showroom.