It may sound a bit hard to believe but the current BMW 5 Series is aging fast, and a replacement is due to arrive in 2016. Although test mules have been spotted a few times, no major details regarding the new model were known. Today is different thanks to a new report coming from Autocar. The 2016 5 Series will ride on a new platform that's wider than the current one. This will allow for a range of engines to be fitted including gasoline, diesels and hybrid powertrains.

Like the current car, the 5 Series will continue its sedan, wagon and GT body style lineup. However, expect to see a sleeker and sexier exterior design. Supposedly the Gran Lusso Coupe, a gorgeous concept designed with input from Pininfarina, is serving as the styling inspiration. Another piece of good news is that the 2016 5 Series will be offered with a 4.4-liter V8, likely standard for the 550i. Base models, depending on which country they're sold in, will come powered by four and six-cylinder engines. The diesel is a guarantee for Europe but we don't know whether BMW will bring it stateside.

Our guess is yes because of the increasing popularity of diesels (notably for VW) in the US. The M5 will debut in 2017 and for the first time have an all-wheel drive option. RWD will remain standard. It'll be powered by an improved version of the current twin-turbo 4.4-liter V8 with output closer to 600 hp thanks to a more advanced direct injection system. What's still uncertain is whether the M5 will continue to be offered in the US with a six-speed manual. BMW purists should start praying now that it will.