It seems like only yesterday when Hyundai shocked the auto industry with the Genesis Sedan. The hard truth, though, is that the Korean automaker's first foray into the luxury market arrived in 2008 as a 2009 model. Hyundai doesn't intend to rest on its laurels, and new updates for the 2012 model year are being debuted during the Chicago Auto Show this week.

No self-respecting mid-cycle refresh is complete without an all-new powertrain, and the Genesis is blessed with with a doozy. An all-new R-Spec trim level will sport an all-new direct-injected 5.0-liter V8 – a mill that's also destined for the larger Equus. The new powerplant is Hyundai's most powerful engine ever, producing 429 horsepower at 6,400 rpm and 376 pound-feet of torque at 5,000 rpm. That's 85.6 very impressive horsepower per liter out of a naturally aspirated engine, or more grunt per unit than the competition from Lexus and Mercedes-Benz.

Impressive stuff, and Hyundai follows through with a new eight-speed automatic transmission that was developed in-house. The new tranny will help the R-Spec model achieve estimated fuel economy of 25 miles per gallon on the highway and 16 mpg around town. The R-Spec model will also feature unique 19-inch wheels, along with more aggressive suspension and steering tuning.

The Genesis Sedan will continue to offer the 4.6-liter Tau V8 and 3.8-liter V6, but changes were made to boost both power and efficiency. The 4.6-liter V8 will now reward the driver with 385 ponies thanks to tweaked induction and timing. Wha't smore, the updated eight-cylinder mill will now hit 26 mpg on the highway, up from 25 mpg. The 3.8-liter engine has added direct injection for 2012, pumping horsepower up by a substantial 15 percent – 333 horsepower and 291 lb-ft for you number crunchers out there, up 43 ponies and 27 lb-ft from the old engine.

Hyundai rounded out changes for the 2012 model year with a few design tweaks to keep aesthetics fresh. Updates include a reworked grille and front fascia, incorporating new headlights with LED accents and dark chrome headlamp inserts. Out back, Hyundai added new taillamps, a revised fascia and integrated dual exhaust tips. Other changes include a host of interior updates and the new Genesis 3.8 Premium and Technology Packages.