The new BMW M5 Facelift made its world debut this past weekend at the annual M Festival. The M Division chose to introduce their most iconic model in front of tens of thousands of fans attending the 3-day long event.

Along with design updates, the BMW M5 Facelift also debuts the Competition Package. The new package will be available for both European and U.S. customers and brings a series of significant upgrades. First and foremost the power is raised to 575 horsepower. Next the M engineers have applied extensive modifications to the chassis set-up as. Along with the suspension and damping systems, the stabilizer bars have also been more tautly tuned. In the BMW M5 this adjustment has resulted in a lowering of the car by around 10 millimeters.

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With the Competition Package, the M Dynamic mode of the DSC (Dynamic Stability Control) system is even more acutely geared to sporty handling characteristics. The package additionally includes exclusively designed 20-inch M light-alloy wheels along with a sport exhaust system featuring customary M twin tailpipes in black chrome that lend an unmistakable sporty note to both the look and the sound of the car.

The M “kidney grille”, which now features the model designation and whose slats cite the double-spoke design of the M light alloys. An option of Adaptive LED Headlights is now offered. Newly developed M carbon ceramic brakes can be purchased as well and despite the high price tag, BMW M is confident it will be a popular sell, especially among German customers that need extra braking abilities when reaching 300 km/h.

The model introduced at the M Festival was painted in a Frozen Blue metallic color, specific to the M5.

Here is a photo gallery from the BMW M Lounge.