The new Bentley Continental GT V8 has been revealed in both its coupé and convertible forms, with the firm claiming it will be the “most agile” example of the grand tourer produced to date.

The new model swaps the standard third-generation Continental GT’s 664bhp 6.0-litre W12 engine for a 523bhp twin-turbocharged 4.0-litre V8. This gives it a 42bhp power boost over the previous Continental GT V8.

The powertrain makes 568lb ft of torque, giving the coupé a 0-62mph time of 4.0sec and a top speed of 198mph. The convertible has a 0-62mph time of 4.1sec and an identical top speed. Both versions feature an eight-speed automatic gearbox, with quad sports exhausts that Bentley says produce a “characterful V8 burble”.

Bentley claims the new model, which is lighter than the W12 version launched last year, will be “lively and engaging” to drive and have a touring range of more than 500 miles. The ride and handling has been tweaked for the V8, with lightweight anti-roll bars at the front and rear. Bentley’s Dynamic Ride System adaptive chassis control is available as an option.

The model remains four-wheel-drive, with the system sending power to the rear wheels as standard for maximum efficiency.

The Continental GT V8 models are identifiable by quad exhausts and V8 badges on the front wings. The car sits on 20in wheels as standard, with optional items ranging up to 22in.

The interior features leather seats offered in a monotone colour split, a new walnut fascia – with other woods available as options – and a 10-speaker Bentley Audio system.

The Continental GT V8 will go on sale in the US later this year, with deliveries in the rest of the world, including the UK, starting in early 2020. Bentley has yet to confirm pricing for the new model, but it's likely to be cheaper than the £159,100 starting price of the W12 model.