When the Porsche Boxster first hit the market in 1996, it was considered by many the “Poor Man’s Porsche”. But, for 2013, the German automaker has crafted a vehicle that can seriously argue those misconceptions.

The 2013 Boxster is the third generation of the Porsche model, and has been completely redesigned, from the body to the engine.

According to Yahoo’s Motoramic blog, the new wheelbase is 2.36 inches longer, the height is 10mm lower, and the front track is 1.57 inches wider. The body of the Boxster also extensively uses aluminum to reduce overall weight by 55 lbs in the standard model and 77 lbs in the Boxster S, making it the lightest roadster in its class.

Under the hood, it boasts a flat-6, 2.7-liter engine, giving it 10 more horsepower compared to the previous model, bumping it to 265 hp with 206 ft-lbs of torque. It hits 0-60 mph run at an estimated 5.5 seconds. It also has an optional Sports Chrono package and Porsche’s PDK seven-speed automatic transmission.

The rear end of the new model has been modified slightly, giving it a more visually appealing look, while the other exterior mods were made slightly, taking cues from the Carrera GT (eg. new air scoops just behind the doors). The new LED rear taillights with the integrated edge also looks nice, complimenting the car’s more aggressive stance.

The sportier 3.4-litre Boxster S gets a 5 hp increase to 315 and 266 ft-lbs of torque. And, the top of the line model, claims 0-60 is just 4.8 seconds.

On the interior, it sports an elevated center control and Porsche’s traditional 3-gauge cluster; a multifunctional display on the far right, which includes a nav screen; and is wrapped in leather.

The Porsche Boxster will start at $49,500 and $60,900 for the Boxster S. It is slated to hit the market this summer.