Yes, it can. Many vehicle owners don't realize that a renewed engine is assembled to perform as well-or even better- than the original engine.
Most important, all components that go into a renewed engine are either new or machined to the precise standards and specifications of the new car manufacturer.
Also, engine builders typically install upgraded components to eliminate known problems- like overheating and oil leaks- that may exist in the design of the original engine. Oil flow may be improved. So a rebuilt engine may easily exceed your expectations in performance, economy and trouble-free operation.
A renewed engine is the only way to go.