Will there be a 2024 IS500?
No — Lexus did not announce a 2024 IS500. The V8-powered IS500 was offered for the 2022 and 2023 IS lineup, but there was no official release or confirmation for a 2024 model year.
To understand what this means, this article examines the current status of the IS500, why a 2024 variant wasn’t launched, and what enthusiasts might expect from Lexus’ performance-focused sedans in the near term and beyond.
Current status of the IS500
The IS500 is the V8-powered variant within Lexus' IS lineup. It debuted with the second-generation IS and uses a 5.0-liter V8 producing approximately 472 horsepower and around 395 lb-ft of torque. It is paired with an eight-speed automatic transmission and is designed as a rear-wheel-drive configuration, with performance-oriented enhancements available through options like a dedicated handling package. The model was available for the 2022 and 2023 model years in the United States, but Lexus did not extend this variant into the 2024 model year, according to the latest public disclosures.
Reasons a 2024 IS500 hasn't been announced
Automakers typically publish model-year plans well in advance, and Lexus did not release any information about a 2024 IS500. Industry observers point to several factors that influence high-performance variants, including product lifecycle management, market demand, and broader corporate strategy, particularly as brands accelerate electrification and consider next-generation platforms. In this context, a 2024 IS500 was not part of the official roadmap published to dealers and media outlets.
What to watch for in the near term
Even without a 2024 IS500, the broader performance and electrification strategies of Lexus suggest attention to how the IS lineup evolves. If a successor to the current IS design or a new high-performance variant is planned, announcements would likely appear through official Lexus communications and major automotive press outlets, outlining powertrain, technology, and design changes that align with the brand’s long-term strategy.
Alternative high-performance options in the IS family
For those seeking performance within the IS lineup today, options include the existing IS 350 and IS 300 variants along with various F Sport and handling-oriented packages. Additionally, other Lexus performance models, such as the RC and LC lines, offer comparable sport-focused experiences. As Lexus continues to push electrification and new platforms, future IS performance offerings may shift toward hybrid or electrified configurations.
Summary
There was no 2024 IS500 announced or released. The V8-powered IS500 appeared for the 2022 and 2023 model years, but Lexus did not extend the variant into 2024. Future IS performance offerings remain unconfirmed, with official updates and credible automotive reporting the best sources for any new developments.
Is there going to be a 2025 IS500?
The 2025 Lexus IS 500 F SPORT Performance is engineered for those who crave power and precision. At its core is a 5.0-liter naturally aspirated V8 engine delivering a robust 472 horsepower and 395 lb-ft of torque.
Is the IS500 being discontinued?
Yes, the Lexus IS 500 has been discontinued, with the 2025 model year being the last one produced. Lexus is ending production of the IS 500, which featured a 5.0L V8 engine, and the 2026 model year will no longer include this variant. A special 2025 Lexus IS 500 Ultimate Edition was released as a final send-off for the model.
This video discusses the discontinuation of the IS 500 and its impact on performance sedan enthusiasts: 38sBrakeDownMediaYouTube · Sep 18, 2025
- The 2025 model year is the last chance to purchase the IS 500.
- Production of the IS 500 is scheduled to end in November 2025.
- The 2026 model year will no longer offer the IS 500 variant.
- A limited-edition 2025 IS 500 Ultimate Edition was released as a final send-off for the model.
You can watch this video to see a final review of the Lexus IS 500: 54sThe Novak ReportYouTube · Aug 9, 2025
What will replace Lexus IS 500?
The IS lineup has been whittled down to a single model, the IS350, deleting the IS500. The 2026 IS350 is available in F Sport and F Sport Design trims and still features a 311-hp 3.5-liter V-6.
How much is the Lexus IS 500 in 2024?
2024 Lexus IS Features & Specs
| Base MSRP Excludes Destination Fee | $58,870 |
|---|---|
| Cost to Drive | $309/month |
| Seating | 5 seats |
| Cargo Capacity All Seats In Place | 10.8 cu.ft. |
| Drivetrain | rear wheel drive |
