BMW has confirmed its brand-new 2015 BMW M4 Convertible will start at $73,425, including a $925 shipping fee.

 It is slated to debut later on this month at the 2014 New York Auto Show.

The 2015 M4 convertible will cost approximately $8,300 more than the 2015 BMW M4 Coupe, a companion model, according to the automaker.

The M4 Coupe vehicle has been listed for $65,125, including shipping. The 2015 BMW M3 Sedan meanwhile will be sold for a base price of $62,925, including shipping, according to the automaker.

"The BMW M4 convertible replicates the performances of the BMW M4 coupe and the BMW M3 Sedan, but emphasizes its stylish and distinctive appearance through its retractable hardtop that places open-top driving at center stage," said BMW in a statement.

Features confirmed for the new M4 includes a three-piece retractable hardtop, which can be lowered via a pushbutton in just 20 seconds.

The hardtop can be dropped when the vehicle is moving at speeds of up to 11 mph.

BMW expects the M4 Convertible to compete with similar vehicles like the 2014 Chevrolet Corvette Stingray Convertible and 2014 Porsche Boxster S.

The M4 convertible will arrive at dealerships this summer.

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?