Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

| 25 Nov 2020
Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Funny thing, fashion. One moment you’re sporting the latest threads and a cutting-edge haircut, the next you’re being ribbed mercilessly by kids who think New Order is a proscribed terrorist organisation.

But just imagine the looks on their faces when it all comes back around, and the things we once considered slightly uncool become desirable again.

I’m not suggesting you step outside wearing bellbottoms or a mullet, but where once it took a brave man to consider buying one of the crop of unloved junior supercars from the late ’80s and early ’90s, you now find wisdom. It’s a rising market, and there’s never been a better time to add a Ferrari 348, Honda NSX or Lotus Esprit to your garage. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

The 348 carried over many cues from the poster pin-up Testarossa

The reigning champion is always held to a higher standard than its rivals. That was certainly true of the Ferrari 348, which not only bore the burden of expectation that comes with the famous Prancing Horse, but also from Maranello itself, which hoped to match the financial success of the 328.

Just as the outgoing model aped the styling of the Berlinetta Boxer, the 348 carried over many cues from the poster pin-up Testarossa, blending a sleek nose with the trademark slatted side air intakes that provided cooling for the radiators and oil coolers.

The horizontal lines continued around the back of the car and across the rear lights, again mimicking the personality of the range-topping flat-12 and cementing the impression of an entry-level Testarossa that has been shrunk in the wash.

The comparison with its bigger brother has become less glaring as the years have rolled by, allowing the 348 to move out from behind the redhead’s shadow and be considered on its own merits – of which there are many.

The styling, for one, seems to have improved with age, and the long-term owner of ‘our’ 348ts has tweaked things further by colour-coding the lower skirts and removable targa-style roof, both of which were black when it left the factory. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit
Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Clockwise from top: lower skirts and roof have been colour-matched to the rest of the car; distinctive-sounding flat-plane-crank V8; rich interior feels the most special here

The cabin brings to mind the epic Ferrari road cars of the past, from 250 to Daytona and beyond. It’s a simple recipe of lavish tan hide and purposeful black steering wheel, plus the signature tall gearlever with a round ball standing proud above the exposed, polished H-gate.

It’s spacious and surprisingly practical, and even clambering in and out can be managed with a degree of elegance you wouldn’t normally associate with a supercar. 

The drivetrain, meanwhile, was shared with the Mondial t and comprised a 3405cc 90º V8 with Bosch Motronic 2.7 fuel injection, which was mounted longitudinally amidships and paired with a transverse dogleg five-speed ’box.

Under the skin, the 348 featured a steel-panel semi-integrated bodyshell with a tubular rear subframe, along with double-wishbone suspension front and rear, and a respectable kerbweight of 1393kg. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

The firmly sprung 348 developed a reputation for tricky handling on the limit, but on the track it has magnificent agility

With 300bhp on tap, the 348 was always going to be lively, but what strikes you first is just how driveable this Ferrari is.

The gearchange is mechanical and deliberate; it doesn’t like to be rushed, but take your time, be purposeful in your movements and, once the oil has had a chance to thoroughly warm through, it’s a delight, rewarding confident shifts with a mechanical ‘clack’ that again harks back to Ferraris of old. 

The clutch is remarkably light, and sympathetic to the ignorance that comes with stepping into a car for the first time. First is short, the V8 comfortably the most highly strung motor of our trio and the keenest to rev from low down.

On-hand expert Mark Hawkins from Rardley Motors suggests changing straight from first to third – a habit picked up during a career spent avoiding the weak second synchros on 328s – and it proves sound advice. Skipping the second cog takes some of the venom out of the 348’s acceleration when you’re being sensible.

When you’re not, this thing really shifts. Bury the throttle and it will blast to 60mph in just 5.4 secs, with a linear power delivery that feels more manageable than that of the turbocharged Lotus.

Keep it buried and the 348 will eventually hit 173mph in top, but wind up the revs in any gear and you’ll be rewarded with a manic howl that neither of its rivals can match. The noise is addictive, and the car so user-friendly that it isn’t long before you’re blipping on downshifts and swapping cogs just for fun.

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Distinctive white wheels and black roof for hottest NSX

Despite Pininfarina’s involvement in both the Ferrari 348 and the early Honda HP-X concept, the Italian and Japanese cars are poles apart visually.

Side by side, it’s difficult to believe they both broke cover in the same year, with the Ferrari looking as if it has one foot in a 1980s world of rolled-up blazers and shoulder pads, while the NSX was a vision of the future – if a slightly ungainly one at times.

Part of the problem was its long tail, a result of Honda chiefs’ insistence on meeting luggage-capacity targets, but it has grown into that quirk as the years have passed. 

The advanced nature of the NSX is more remarkable when you consider the length of time it took to get from the draughtsman’s table to showrooms: six years in total. So long, in fact, that it was originally conceived as a rival to Ferrari’s 328.

In engineering terms, the NSX was light years ahead, being the first production car to feature an all-aluminium monocoque.

The engine, too, was special, the 2977cc naturally aspirated V6 showcasing the firm’s VTEC variable valve timing system, which combined low-down torque with peak power via a second, more aggressive central cam profile activated at 5800rpm.

Thanks to titanium conrods, the engine could safely spin to 8300rpm – a dizzying feat rarely seen away from the track at that point. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit
Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Clockwise from top: NSX-R sheds serious weight to extract more performance; tubular brace gives extra rigidity to the Honda engine bay; Racy Momo wheel, red seats and suede dash give it a special feel

The 274bhp powerplant was retained for the Type R that arrived two years later, but this Japanese domestic market offering was far from a mere marketing exercise.

Honda engineers began by stripping out a staggering 120kg – quite an achievement given the lengths taken to reduce weight during the design of the original.

Aluminium was used extensively, with slimmer bumpers mounted to lightweight beams, plus alloy door bars and a hollow brace bisecting the engine bay. A composite engine cover was added, and the insulating panel that hid the engine was replaced by black mesh. Even the glass used to separate the cockpit from the engine bay was lighter, with single glazing in place of the double-glazed original. 

Weight-saving continued inside, with luxuries such as air-conditioning, stereo, central locking and powered mirrors scrapped, and leather seats replaced by carbon-aramid composite Recaro buckets trimmed in racy red fabric.

The steering wheel (and its airbag) was swapped for a Momo item, and the gearlever for a stubby titanium shifter said to be modelled on that in the McLaren-Honda F1 car. They’re nice touches that hugely improve the restrained – and, frankly, rather boring – interior of the NSX. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

NSX-R is the sweetest drive here – by far

The changes don’t look big on paper, but on the road the NSX-R is far greater than the sum of its parts – or indeed the lack of them.

Among the modifications was a drop in ride height of 10mm, with firmer springs and Showa dampers stiffening the front end, which reduces the front-biased weight transfer that could make the standard car tricky on the limit.

As a result, you can push harder and with greater confidence, while acceleration also feels more raucous – at last with the theatre to match the performance thanks to a freer-flowing quad-pipe sports exhaust.

The NSX-R is by far the sweetest drive here, with a light clutch that wouldn’t feel out of place in a Civic and a snappy, positive gearbox with a wonderfully short throw. 

Stretch its legs and this heated-up NSX feels appreciably faster than the Ferrari, with a noticeable kick when the trick valve timing comes into play. Keep going and past 8000rpm the V6 really sings, finally finding the voice that was missing from the standard car. Cornering is predictable and assured, too, with the combination of a 10% boost in the power-to-weight ratio and a limited-slip diff encouraging you to try ever harder. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Wider rear arches, fatter tyres and smoked lenses add a menace to the already purposeful Lotus

After the missile-like NSX-R, the Lotus seems a bit antiquated, with the ghost of the original Giugiaro-penned Esprit still clear to see.

Peter Stevens’ 1987 redesign modernised the car to a degree, refreshed again by Julian Thomson in ’93. The latter thankfully dropped Morris Marina doorhandles in favour of those from a Rover 200 – more of an improvement than it sounds – but the car remained a bit of a parts-bin special, with tail-lights borrowed from the Toyota AE86 and switchgear from various GM models.

Scott Tidman’s S4S is further tweaked by the addition of a one-off set of fat arches and a modified rear bumper made by Lotus for a customer’s Sport 300 after he complained about stone-chips. The Esprit is hardly a shrinking violet anyway, but the beefier bodykit gives the wedge real presence.

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit
Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

S4S is the pick of the four-cylinder Esprits; charge-cooled Garrett turbo boosts the twin-cam ‘four’ to 300bhp; cabin offers more space than earlier Esprits

It also feels the most wild inside. You sit low and far back, in a hard, sculpted seat that is more tailored brogue than training shoe. The steering wheel, dashboard and gearlever are upright, and there isn’t much to see out of the back thanks to the rear spoiler: any reversing manoeuvre requires you to hang out of the window.

Overall, the cockpit brings to mind those out-there concept cars of the ’70s – such as the Maserati Boomerang that begat Giugiaro’s original Esprit – and that wonderful view beneath the waves seared into the memory of anyone who grew up on a diet of James Bond films. 

The S4S isn’t quite the last four-cylinder Esprit, an honour that befell the 1996-’99 GT3, but it’s certainly the most accomplished, blending the comfort and usability of the S4 with the stomach-churning pace of the Sport 300, whose 2174cc turbocharged lump it shares.

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Esprit is strikingly stable at high speed

The Lotus is far and away the angriest of the three, and constantly seems to be trying to make up for its lack of cylinders – shouting and spitting until you fully commit to the accelerator. It’s lumpy, gravelly and seemingly in a constant state of irritation while manoeuvring out of the car park, becoming more at ease with speed.

The turbo is about as subtle as a brick to the back of the head, but never fails to elicit childish giggles that are almost immediately stifled by a sharp intake of breath; it’s seriously quick, surging as boost and cams combine at around 5000rpm. 

Because its model lineage goes back the furthest, it’s easy to assume that the ethos of homespun tinkering that brought Lotus such success in the carburettor era might not translate to a modern supercar – but you’d be wrong.

The Esprit is strikingly stable at high speed, with its power steering – first introduced on the S4 – weighting up beautifully. It feels planted and grippy, aided by the wider rubber fitted front and rear to Tidman’s example, which gives it the look of the X180R that dominated IMSA in 1992.

The one area where the glassfibre-bodied Lotus falls down in comparison to its Japanese rival is in terms of build quality. Lean on it hard and you’ll hear the odd rattle and creak, a reminder that it was pieced together by Rogers and Reginalds rather than robots, a world away from the kaizen production lines of Japan. 

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

There’s little to choose between these three junior supercars

Despite how comparable these cars are in terms of price and performance, it’s difficult to imagine the owner of one suddenly waking in a cold sweat and realising they’ve made the wrong choice.

An NSX enthusiast is unlikely to be drawn to the reliability and build quality of an Esprit. Likewise, an Esprit keeper would baulk at the running costs of the Ferrari. And the 348 owner, who has invested in the prestige and passion of the Prancing Horse, probably won’t have their trousers set alight by the computer-controlled precision of the Honda. 

Yet you don’t have to spend long with these cars to realise that their reputations are largely undeserved. The Ferrari is cheaper to run than you might think; the Esprit can be endlessly fettled, the flaws associated with its being built by men in sheds invariably sorted out by… men in sheds; and the NSX is brought to life by the improvements that come with its ‘R’ badging. 

With so little to choose between them, which to take home depends on personal preference – and whether you spent your childhood watching Miami Vice or The Spy Who Loved Me.

But for a man who wasted his youth staring at the pixelated perfection of Gran Turismo’s Suzuka, trying to emulate the twinkling loafers of Ayrton Senna, it’s impossible to see beyond the NSX-R. Honda engineers took an already brilliant car and turned it into a legend.

Images: Luc Lacey

All prices correct at date of original publication

Thanks to Rardley Motors; Plans Performance; Club Lotus; Paul Matty Sports Cars

The specialist’s view

Classic & Sports Car – Bargain supercars: Ferrari 348 vs Honda NSX vs Lotus Esprit

Ferrari 348ts

“The value of early cars depends very much on age, mileage and service history – most likely to be specialist rather than main dealer now,” says Mark Hawkins of Rardley Motors.

“Expect to pay £35-55k for a right-hand-drive tb or ts. From 1991-’93 the build quality was greatly improved, and in 1994 they were uprated to the 320bhp GTB/GTS. Values of these later models have levelled in the past few years, but you can pay as much as £65,000.”

Honda NSX 

“Values have risen markedly in the past few years,” says Graham Horgan of NSX specialist Plans Performance, “but the Honda lags behind the equivalent Porsche or Ferrari. They’re still undervalued, both in price and reputation as an engineering masterpiece.

“Automatics are considerably cheaper: £30-40k for a reasonable 1991-’95 auto, compared to £40-50k for the equivalent manual. Post-’02 facelift cars are £70-90k, with the R starting at six figures.”

Lotus Esprit S4S

“The ‘Stevens’ Esprit came out in ’87, and was much improved by the involvement of Toyota,” says Lotus guru Paul Matty. “The market has yet to catch up with SEs and they represent really good buys, with tatty cars from as little as £15,000 and good examples up to £30k; expect to pay £20-30k for a GT3 or S4.

“That’s the starting point for the best model, the S4S – the looks of the V8, without the headaches. Top, low-mileage cars reach £50-60,000.”


Ferrari 348ts

  • Sold/number built 1989-’94/8720
  • Construction steel semi-monocoque with steel, plastic and aluminium body panels
  • Engine all-alloy, dohc-per-bank 3405cc V8, Bosch Motronic fuel injection
  • Max power 300bhp @ 7000rpm
  • Max torque 237lb ft @ 4000rpm
  • Transmission five-speed manual, RWD
  • Suspension independent, by wishbones, coils, telescopic dampers; anti-roll bar f/r
  • Steering rack and pinion
  • Brakes ventilated discs, with servo
  • Length 13ft 10in (4230mm)
  • Width 6ft 3in (1894mm)
  • Height 3ft 10in (1170mm)
  • Wheelbase 8ft (2450mm)
  • Weight 3071lb (1393kg)
  • 0-60mph 5.4 secs
  • Top speed 173mph
  • Mpg 18
  • Price new £67,499


Honda NSX [NSX-R]

  • Sold/number built 1990-2005/18,685 [1992-’95/483]
  • Construction aluminium monocoque Engine all-alloy, dohc-per-bank 2977cc V6, with sequential multi-point fuel injection and VTEC variable valve timing
  • Max power 274bhp @ 7300rpm
  • Max torque 224lb ft @ 5300rpm
  • Transmission five-speed manual, RWD
  • Suspension double wishbones, coilover telescopic dampers and anti-roll bar f/r
  • Steering rack and pinion
  • Brakes ventilated discs, with ABS
  • Length 14ft 61/2in (4430mm)
  • Width 6ft 11in (1810mm)
  • Height 3ft 10in (1170mm)
  • Wheelbase 8ft 31/2in (2530mm)
  • Weight 3010lb (1365kg) [2745lb (1245kg)]
  • 0-60mph 5.6 secs [4.9 secs]
  • Top speed 168mph
  • Mpg 28
  • Price new £55,000 [¥9,707,000]


Lotus Esprit S4S

  • Sold/number built 1994-’97/367
  • Construction steel backbone chassis, glassfibre body Engine all-alloy, dohc 2174cc ‘four’, with Garrett T3/4 turbo and multi-point fuel injection
  • Max power 300bhp @ 7000rpm
  • Max torque 290lb ft @ 3600rpm
  • Transmission five-speed manual, RWD
  • Suspension independent, at front by double wishbones rear upper and lower transverse links, radius arms; coil springs, telescopic dampers, anti-roll bar f/r
  • Steering power-assisted rack and pinion
  • Brakes discs, with servo and ABS
  • Length 14ft 53/4in (4413mm)
  • Width 6ft 2in (1880mm)
  • Height 3ft 91/4in (1149mm)
  • Wheelbase 7ft 111/3in (2420mm)
  • Weight 3219lb (1460kg)
  • 0-60mph 4.6 secs
  • Top speed 168mph 
  • Mpg 25
  • Price new £52,995

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