The current BMW X3 will have to soldier on for at least a few more months until the arrival of an all-new model, previewed here in this latest computer-generated rendering, which shows updated front-end details and a slimmer, sleeker overall look.

Recent spy shots of BMW's next-generation X3 prototype indicate the company may be moving the crossover's development forward to match the competition. With the release of the newer Audi Q5 and Mercedes-Benz GLK, BMW will almost certainly be a little a worried about losing its leadership position.

The rendering shows a car with completely finished headlights and tail lights, slightly expanded dimensions for added interior space and styling borrowed from the X1 compact SUV.

In addition to the revamped exterior, a full array of gadgets and features are expected to be available for the X3 to help keep its edge against Audi and Mercedes-Benz. It’s even possible that BMW could make the night-vision heads-up display currently found in the X6 and other models available on the X3. Bi-xenon headlights with around-corner capability and new seats that feature massage functions and ventilation are also expected for the new model.

Engines will remain largely the same, with a choice of four diesels ranging from 177 to 300-horsepower for Europe, and most markets, including the U.S., getting the option of two gasoline engines rated at 231-horsepower and 306-horsepower. A new hybrid model is also tipped to be on the table, though specifications are still forthcoming. The new N55 twin-scroll single-turbo engine may make an appearance here as well, as BMW chases better efficiency and larger margins on its vehicles. The N55 will soon be available in the 1-Series and 3-Series.

The new X3 is expected to appear in showrooms in the second half of 2010 as a 2011 model, joining the smaller X1 crossover as well.