One of the biggest performance bargains on the road has just become an even better buy. The Subaru WRX STI has had its price slashed from £32,995 to just £26,995. That’s not a lot to ask for a 300PS, 407Nm, all-wheel drive saloon capable of 0-62mph in 5.2 seconds.

Subaru WRX STI 2012

Subaru WRX STI receives a price drop for the start of the ’62-plate season

Now, you could pocket the £6,000 saving and walk away with a fast saloon, but why do that when you could put some of the money you’ve saved to good use and walk away with a REALLY fast saloon? How so? By asking Subaru to fit its new 340R power upgrade to your WRX STI.

The 340R boasts a total of 340PS (hence the name) and 490Nm of torque. That’s an increase of 40PS and 83Nm over the standard WRX STI. It uses a remapped ECU to free up more power from the 2.5-litre, four-cylinder Boxer engine. Airflow has also been improved by a new exhaust system, which has the added bonus of making that iconic Subaru burble even more noticeable.

The 340R will hit 60mph from a standstill in just 4.7 seconds, over 0.5 seconds quicker than the standard WRX STI, while the increased torque makes the mid-range even more impressive.

The price is £1,599 and the 340R upgrade can be specified on a new WRX STI or added to used models by Subaru’s dealer network. The best part is that you can have the upgrade fitted without affecting your car’s warranty, as this is a Subaru-approved modification.

Fitting in below the 340R  is the existing 320R upgrade which, as you’ve probably guessed, has 320PS backed up by 450Nm of torque.

Is it coincidence that this price drop comes just before the 62-plates are about to enter UK showrooms? Seems unlikely, but if helps Subaru shift a few more WRX STIs then good luck to them.