The revised 2014 BMW M5 comes with just small updates on the exterior and the interior, but it offers one of the greatest addition of the past few years: a new Competition Package that adds an extra 15 horsepower under the hood.

Next to the extra power the M5->ke2922 equipped with the Competition Package is offering an extensively tuned chassis set-up. It gets new coil springs and damper calibrations and stiffened anti-sway bars that have lowered the car's ride by 10 mm (0.39 inches). Thank to these updates the car's cornering dynamics and tractability have been improved, and the 0 to 60 mph sprint time was reduced by 0.1 seconds.

The package is also offering unique 20-inch M light-alloy wheels, a sport exhaust system featuring M quad tailpipes finished in Black Chrome and re-mapped M Dynamic Mode (MDM) of DSC (Dynamic Stability Control).

The new BMW M5 Competition Package will go on sale on the U.S. market in August 2013. The package will add another $7,300 to the M5's starting price of $90,900.

Updated 03/18/2014: BMW finally unchained the new M5 Competition Package in a video that shows the car's breathtaking power and precision. Enjoy!

Click past the jump to read more about the 2014 BMW M5 and to see a video of the M5 Competition Package in action on the Nürburgring