Mar 27, 2013 10:26 AM EDT
BMW 3 Series Gran Turismo Unveiled At New York Auto Show, Priced At $40,000 (PHOTOS/ VIDEO)

BMW is set to unveil their new 3-Series Gran Turismo today, Mar. 27, at the New York International Auto Show according to the Associated Press.

The new model features more room between the front and rear wheels and better gas mileage, two issues customers had with its predecessor.

A Grand Turismo 328d model will also be shown off by the company, which is equipped with a diesel engine that is expected to get at least 40 mpg on the highway.

Designers also created more rear-seat legroom and cargo space in the trunk according to the Associated Press.

The previous 3-Series is currently the top-selling luxury car in the U.S. as the company sold approximately 99,000 3-Series coupes, sedans, and wagons in 2012. This is an increase of approximately six percent from 2011 according to a company press release.

The Gran Turismo will feature the same engines and transmissions as the standard 3-Series according to the Associated Press.

The first option available will be a 2-liter four-cylinder engine and the second is a 3-liter 6-cylinder. All-wheel drive is standard for both engines according to BMW.

The 328d will come equipped with a four-cylinder turbocharged diesel engine that is expected to achieve 180hp. This model is can go 0 to 60 in approximately 7.2 seconds according to BMW.

Early estimates indicate the diesel model can get 45mpg in the highway, whereas city mileage estimates have yet to be released.

BMW stated that customers can expect the diesel model to be sold for approximately $40,000 without the destination charge.

The Gran Turismo is expected to reach showrooms by this fall, whereas the 328d will be released before 2014 according to BMW.

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