With the introduction of the Excel SE in October 1985, the bumpers, wing and interior were changed, including a new dashboard.

It also received a louvered bonnet, a boot spoiler, and new eight-spoke alloy wheels became an option.

The Lotus badge was all black background to mark the death of founder Colin Chapman.

The boot opening was made larger, while front fog lamps and a VDO instrument cluster were installed.

Torque was marginally increased to 165 lb⋅ft (224 N⋅m) and the engine was fed by two 45 mm twin-choke Dellorto carburettors.

The fascia and switchgears were modified on all Excel models, along with an upgraded air conditioning system (an extra-cost option) and a standard adjustable steering column.

In 1988 the Excel received a number of under-the-shell improvements, including a lighter, cross-drilled crankshaft, new engine mounting legs and bell housing, altered rear body mounts, a boot floor brace and revised body shell undertray, and a revised fuel system.

In 1989 the Excel was given another makeover, with a restyled bonnet, new front and rear spoilers, updated wheels and interior trim.

This special edition received a Clarion CDC 9300 head unit, a remote control stacking CD player and upgraded speakers, red instrument lighting, air conditioning, a full tan leather interior with perforated leather panels and tan leather-clad steering wheel.

Modified by James May into a motorhome, it featured a roofbox-style sleeping accommodation with a passageway to the car's interior.

"[7] The Excel was modified into a functioning submarine similar to "Wet Nellie," the 1976 Lotus Esprit used in the James Bond film The Spy Who Loved Me.