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The Dodge Avenger will be significantly updated for 2011, which is good news, considering that it’s currently our 21st — and last place — ranked affordable midsize car.

According to KickingTires, the 2011 Avenger will get an “all-new interior, minor exterior updates, a new V-6 engine and further retuning of its suspension.” While most manufacturers mildly enhance styling and update the motors for mid-cycle updates, Dodge is giving the Avenger a serious overhaul.

Although the 2011 Avenger’s base motor will remain a 2.4-liter four-cylinder that produces 173 horsepower, it will receive a six-speed automatic transmission that updates its old-school four-speed transmission. But the big news is the uprated V6. Car and Driver says it’s “[n]ow the company’s 3.6-liter Pentastar, mated to a six-speed auto and churning out an eye-popping-for-the-class 283 hp and 260 lb-ft of torque.” This is a significant improvement over the outgoing V6, which only made 235 horsepower.

The 2011 Avenger will see some interior improvements as well. “The interior also has improved seats, colors and materials. There is new ambient lighting and the cabin got the onceover with sound-deadening treatments to make it quieter,” explains The Detroit News. “There is a new instrument panel, bezels, gauges and steering wheel with integrated controls and more Bluetooth functionality for the infotainment system, including voice command.”

If you’re considering an affordable midsize car, especially the 2010 Dodge Avenger, you may want to hold off making a purchase before the 2011 model hits showrooms. These significant updates will do a lot to enhance the Avenger’s appeal and improve your choices in the class. Or, you can use this information to negotiate a better price on the outgoing 2010 Avenger.

“The 2011 Avenger will begin reaching Dodge dealerships later this quarter,” reports Edmunds.

In the market for a new car? Check out the U.S. News rankings of this year’s best cars as well as this month’s best car deals. Also, be sure to check us out on Twitter.