The IS 500 F Sport Performance is available in Base and Premium grades, while 500 lucky customers will get the limited-edition Launch Edition. The Launch Edition comes with Incognito paint, black and gray Ultrasuede upholstery, a plaque with the model number, and 19-inch BBS seven-spoke matte black alloy wheels.
All IS 500 models use the same 472 hp and 395 lb-ft 5.0-liter naturally-aspirated V8 engine. The power is sent to the rear wheels via an eight-speed automatic transmission. The IS 500 gets larger brake rotors, Yamaha rear dampers, and a limited-slip differential to make the most of the increased power over the standard IS.
Standard features include pre-collision warning with pedestrian detection, lane tracing assist, lane-departure alert with steering assist, road sign assist, all-speed dynamic cruise control, intelligent high beams, blind-spot monitoring, and rear cross-traffic alert, to name just a few.
Interior luxuries include a heated steering wheel, heated and ventilated power front seats, an eight-inch infotainment touchscreen, and dual-zone climate control.
Lexus is really going to upset the establishment with the IS 500 F Sport. You see, the base car retails for around the same money as a BMW M340i xDrive in the USA, but includes far more standard features. The 2022 Lexus IS 500 F Sport Performance has a starting price of $56,500. Upgrade to the Premium grade and you have to fork over $61,000. The Launch Edition commands a hefty premium for 500-unit exclusivity and special content, retailing for $67,400. These prices exclude a delivery fee of $1,075.
At the time of writing, available information suggested three available packages. Firstly, the Memory Package, which would add a power tilt-and-telescoping steering column, exterior mirrors that tilt automatically in reverse, and a memory function for the driver's seat, exterior mirrors, and steering wheel. Then, the Navigation Package, which is standard on Premium models, consists of navigation, the larger 10.3-inch touchscreen, Lexus Enform Destination Assist, dynamic voice command, and Lexus Inform Dynamic Navigation. Lastly, there is the comprehensive Navigation/Mark Levinson Package, which adds the features of the Navigation package, plus a 17-speaker Mark Levinson sound system and machined aluminum control knobs. We'd assume you could also add the moonroof, premium audio setup, and some other luxuries as standalone options. Pricing for these packages was not yet available at the time of writing.
The IS 500 F Sport Performance does not seem like a value buy on paper. At $56,500, the IS 500 has the highest starting price in its segment (tied with the Mercedes-AMG C43). However, Lexus provides a lot of standard equipment that costs extra on the German rivals, and it's the only one to offer a V8, unlike the less expensive Acura TLX Type S. If you can live without the upgraded sound system, 360-degree camera with parking sensors, rear sunshade, and triple-beam headlamps, we suggest sticking with the base grade to save $4,500. The Launch Edition looks cool with its unique wheels and Incognito color, but its $67,400 price tag approaches M3 levels.