2014 Cadillac CTS (© Rod Hatfield)

Not too long ago, Cadillac's tagline, "The Standard of the World," would have seemed like humorous overstatement. But with last year's launch of the excellent ATS, this American luxury automaker has wiped the smirks right off of its smug competitors' faces.

With the new CTS now in the limelight, it's clear that Cadillac's charge to the top will be unrelenting. This new midsize sedan looks to be another big slap in the face for German and Japanese luxury automakers. We can only imagine what kind of mayhem the all-new Escalade, due later this year, will reap.

In the meantime, here are details of this delectable new sport sedan, revealed at the 2013 New York Auto Show.

Watch Video:  All-New 2014 Cadillac CTS

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2014 Cadillac CTS

Click to enlarge picture2014 Cadillac CTS (© Rod Hatfield)

2014 Cadillac CTS

Click to enlarge picture2014 Cadillac CTS (© Rod Hatfield)

2014 Cadillac CTS

Click to enlarge picture2014 Cadillac CTS (© Rod Hatfield)

2014 Cadillac CTS

Click to enlarge picture2014 Cadillac CTS (© Rod Hatfield)

2014 Cadillac CTS

What is it?
The rebirth of Cadillac's midsize sedan, sexier and faster than ever before.

What's hot?
Let's start with the looks. The new CTS makes the old one look dumpy by comparison — and the previous CTS isn't a bad looking car, either. The new design is just more refined and sophisticated. It's altogether more contemporary yet also has a bit of retro flair. What's more, it doesn't try as hard to be sporty and sleek as the car it replaces does, but it somehow manages to be more so.

The chassis and mechanicals are also impressive. The car is larger but lighter than before, thanks to more use of aluminum in the structure and front suspension. Whereas the current CTS straddles the compact and midsize segments, the 2014 CTS pushes squarely into midsize sedan territory. It is 5 inches longer on the outside and roomier on the inside. Cadillac says that it will be the lightest car in its segment and that it will weigh about 200 pounds less than a BMW 528i.

The top engine option, available in a new VSport trim level, is a twin-turbo V6 that puts out 420 horsepower and 430 lb-ft of torque. That pretty much obliterates BMW's twin-turbo 6-cylinder powerplant — at least on paper. It will be paired with a new 8-speed automatic transmission and will propel the 2014 CTS from zero to 60 mph in 4.6 seconds. This engine is Cadillac's first-ever twin-turbo V6. It uses two smaller turbochargers instead of one large one for more immediate and continuous power delivery. A nonturbocharged V6 and a turbocharged 4-cylinder are also available.

Based on the fact that the CTS-V gets lightweight Brembo brakes, quicker steering, a track mode for the self-adjusting Magnetic Ride Control suspension — now standard on all CTS trim levels — and a heavy-duty cooling package, it appears Cadillac is serious about boosting this car's performance credentials.

What's not?
Cadillac's finicky Cue interface could be a weak link. But maybe they've improved it. We'll see.

How much and when?
The 2014 Cadillac CTS will go on sale this fall. Pricing to be announced.

MSN Autos' verdict?
If this is the future of Cadillac, we love it. German and Japanese luxury automakers had better watch out.

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Matthew de Paula wanted to be an automotive journalist ever since reading his first car magazine in grade school. After a brief stint writing about finance, he helped launch ForbesAutos.com and became the site's editor in 2006. Matthew now freelances for various outlets.