The Bavarians have unveiled the updated third generation of their insanely popular X5 SUV this week and it includes all the diesel, turbo, and V-8 variations we’ve come to love. The formula hasn’t changed much, but the end result seems – quite literally – a generation ahead.

The exterior gets a handsome refresh that, most likely, gives hints at what the upcoming 2014 5 Series sedans will look like. The headlights sport a LED treatment as they wrap around the front sides of the vehicle. The kidney bean grille takes on a 3-densional look as it bulges in the center then sweeps over the hood and down into the bumper’s air intake.

A rising beltline glides from the front wheel arches rearward, incorporates the door handles, and wraps around the liftgate to meet above the license plate cutout. The rear bumper houses dual chrome-tipped exhaust pipes at each corner that gives hints at what lurks under the sculpted hood.

Inside the Sport Activity Vehicle is BMW’s updated corporate styling. The new multi-leveled dash looks smart with chrome accents abounding and interesting double-stacked air vents on each end. It incorporates a large infotainment screen with the latest version of BMW’s iDrive system and telematics. Two specialty interior packages, Ivory White and Mocha Brown, round out the plethora of color and material choices for the cockpit. Overall trim packages include the Luxury Line, xLine, and M Sport editions.

The biggest change for the X5 is the addition of a RWD model. The X5 sDrive35i comes only with the twin turbo TwinPower 3.0-liter inline six that delivers 300 horsepower and 300 lb-ft. of torque. Smoky burnouts, power slides, and good times will likely come easily for the sDrive35i. The 3.0-liter is also available with BMW’s xDrive AWD system. Surprisingly, both sDrive and xDrive models are matched in their estimated 0-60 mph times of 6.2 seconds.

Returning to the X5 is the venerable TwinPower 4.4-liter V-8. For 2014, the 4.4-liter produces 445 horsepower and 480 lb-ft. of torque. Available only in AWD form, the xDrive50i sprints from 0-60 in an estimated 4.9 seconds. BMW will still be offering the twin turbo 3.0-liter I-6 diesel for 2014, although power is down slightly to 255 horsepower and 413 lb-ft. of torque. Zero to 60 times aren’t expected to change though, as the 3.0-liter is mated to a new 8-speed automatic transmission that makes the most of the torque monster engine.

That same 8-speed auto is standard equipment for all 2014 X5s and is expected to help increase fuel efficiency and performance across the board.

BMW has yet to release pricing for the new X5, but we don’t suspect an extravagant increase over 2013. Current pricing for the 2013 X5 ranges from $48,425 to $65,125 depending on powertrains and options.

The X5 will hit showrooms in the fourth quarter of this year with the xDrive35d coming in early 2014. BMW will continue building the X5 in Spartanburg, South Carolina.

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