The P232 is a great little gun. Slim, reliable, accurate, lightweight (16 oz.), flat, soft-shooting, good-looking, ergonomic, blessed with excellent sights, and extremely well put together.
Cons? Expensive for a blowback .380, the blued variant has an easily-marred finish, and the heel mag release is considered a drawback by some.
The Bersa Thunder 380 does the same job just as well for half the money, but the SIG has a nicer feel to it than any of the other .380s on the market.
A Toyota and a BMW will both get you to work in a competent fashion. If you can fathom why some people are willing to shell out extra money for the BMW, you can probably understand why some people prefer the SIG.
Alas, there are other very good options available in that caliber. Maks and CZ-83s are fine guns as well, built like tanks, and the Beretta 84 is just about in the same league as the P232 when it comes to fit and finish.
For me, the pick of the litter in .380 remains the SIG P232.