If you polled the public to discover Britain’s most revered marque, the chances are that Aston Martin, Rolls-Royce or Bentley would win. But if you polled the engineers who make such cars I’d bet a wedge of cash none of these would top the table. As Gordon Murray, designer of grand prix cars and the McLaren F1, once said to me: “Cut me and I’d bleed Lotus.” He is not alone.

For decades Lotus has stood for engineering purity. It’s produced the kind of car you get when the marketing department is told where to put its new broom. Lotuses are lightweight, hard core, simple, technologically advanced and absolutely brilliant to drive.

Except this one. At almost every level from concept to execution the new Europa S fails to convince. Its official tagline is “Business class by Lotus”, which leads me to conclude only that no one at Lotus has travelled business class of late.

The Europa S comes across as a half-hearted attempt to shove Lotus in a direction it does not care to go. What it is, in fact, is a thinly veiled attempt to resurrect the now defunct Vauxhall VX220. That’s why its wheelbase is that of the Vauxhall and not the shorter and, in every important way, better Elise. That’s why it has a turbocharged General Motors 2 litre engine in the boot and that’s why its £32,995 price seems so outrageous. It is £9,000 more expensive than the Elise S, the most delightful Lotus road car I have driven in years and only £1,950 less than the Exige S, one of the best looking, most dedicated driving machines you could hope to drive.

By comparison the Europa S looks awkward and ugly and has too soft a focus on the only thing that should matter in any Lotus: the road ahead. Its problem in this regard is not because of woolly handling. The Europa steers beautifully, has fine balance and strong brakes, but it is let down by its engine.

It is telling that when trying to make the Exige go faster, Lotus decided to supercharge its engine, because this way not only is engine power increased, its response across the rev range is enhanced too. By contrast, the off-the-shelf engine in the Europa S is turbocharged, so while few will quibble with its 197bhp and 0-60mph time of 5.5sec, the delay between application of accelerator and arrival of power is likely to irk almost all who drive it. Of all cars, you want a Lotus to become so much part of you it feels like you’re wearing it. But despite the efforts made with the chassis, the engine distances you from the driving experience, which is the last thing any Lotus should ever do.

Maybe, just maybe, this would be forgivable if the Europa came anywhere near realising the Grand Touring ambitions its maker holds for it. But in fact it’s a lousy long-distance car. The Europa is quieter than an Exige or Elise but it is still unpleasantly noisy at a steady cruise. And what road warrior is going to buy a Europa when he or she has a range of other Lotus products to choose from, much of it cheaper, all of it uniformly better to look at and to drive? It’s hard to see who this car is designed for.

We know it’s not for driving purists nor can I see it appealing to those freed from children and mortgage repayments; not, at least, after they have tried to get in and out. The sides are lower than an Exige or Elise to aid entry, but it’s still neither easy nor particularly dignified. And if what you really want is a fine-driving touring machine, would you not find yourself rather more tempted by a Porsche Boxster, with a convertible roof and a price tag just £175 above that of the Europa? In the past month I happen to have driven the Elise S, Exige S and Europa S and while I found the first utterly compelling for offering so much pleasure for so little money and the second almost frighteningly quick and capable, the third is the most disappointing Lotus I have driven in 10 years. I guess two out of three ain’t bad, but the third time is usually lucky. This time it wasn’t.

Vital statistics

Model Lotus Europa S
Engine type 1998cc, four cylinders
Power/Torque 197bhp @ 5400rpm / 200 lb ft @ 5000rpm
Transmission Six-speed manual
Fuel/CO2 30.4mpg (combined cycle) / 220g/km
Performance 0-60mph: 5.5sec / Top speed: 143mph
Price £32,995
Verdict A Jack of all trades – the last thing a Lotus should be
Rating 2/5
Date of release On sale now

The opposition

Model Porsche Boxster £33,170
For Ride, handling, lovely engine, convertible roof
Against Bland looks, cramped cabin, miserly standard spec

Model Nissan 350Z £26,495
For Huge power, great fun to drive, looks great
Against Cheap-looking cabin, lumpy ride, blue-collar badge