The pressure on Audi’s best-selling car couldn’t be higher. Just as the Q5 prepares to roll into European showrooms in its third-generation later in March, Audi’s profits have driven off a cliff face.

Company executives are pinning their hopes on the flagship Q5 bumping up sales after the company reported a massive 33% drop in profits due to weak demand and price wars in China.

Expectations are also high after critics accused the German luxury brand of being less progressive than arch-rivals Mercedes and BMW.

Priced from €52,300 at home in Europe, the refreshed family SUV from Ingolstadt squares up against the BMW X3, Mercedes GLC and Volvo XC60.

The Volkswagen Group subsidiary has decided to play it safe and has exercised restraint in its design. The car’s length remains at 4.72 metres, with a wheelbase of 2.82 metres and its appearance has only been slightly modified.

The egg-crate, single-frame grille dominates and when it comes to the shape, Audi could be accused of resting on its laurels, except that customers expect this assertive format.

The handsome Q5 still stands apart from some of its jelly bean rivals with a slightly crisper look and a new array of letters and numbers on the tailgate. There are also fancy light signatures to play with, but overall it shares much in common with the car it replaces.

Those who want more get-up-and-go will need to wait a few weeks before the Q5 comes on stream again as a Sportback with a sloping rear. This variant offers a tad less space and costs an extra €2,500.

For many years Audi has been synonymous with new technology and under the metal the Q5 is completely new. It is the first SUV to be based on the VW Group’s so-called Premium Platform Combustion (PPC).

Along with the latest suites of driver assistance systems, it gets the newest combustion engines, including a lusty 2.0 TDI diesel which is unfashionable but should appeal to traditionalists.

The unit churns out plenty of torque and is well-matched to the seven-speed dual-clutch automatic. Both diesel and petrol engines are mild hybrids thanks to a pair of electric motor.

One is fitted on the engine and the other on automatic gearbox and there is a 1.7kWh battery on board. Audi said it adds 24 hp and allows for limited electric-only running.

Increased energy recovery during braking reduces consumption in the standard cycle to a respectable 5.9 litres per 100 kilometres.

This equates to a range of 1,100 kilometres, which may provoke envy from owners of the larger and more expensive Q6 e-tron electric. Its most efficient version has a range of only 625 km.