For 2023, the Lexus IS 500 is available in F Sport Performance and F Sport Premium trims. Both Lexus IS 500 trims come with the same 5.0-liter V8 engine with specs of 472 hp and 395 lb-ft of torque. Rear-wheel drive and an eight-speed automatic transmission are standard, and because of the added power, the 500 differs from other IS models by getting Yamaha rear dampers and a limited-slip differential.
Both trim levels come with 19-inch F Sport Enkei alloy wheels, a dark chrome finish for the window trim, and rain-sensing windshield wipers, but the Premium adds premium triple-beam LED headlights as opposed to the base model's bi-LED headlights.
Inside, all IS 500s come with dual-zone climate control, NuLuxe upholstery, heated and ventilated front seats with power adjustability, a heated steering wheel, and access to driver-assist technologies such as radar-based cruise control and lane departure alert. The Premium comes with the larger 10.3-inch touchscreen and the 17-speaker Mark Levinson sound system.
Not many packages are available for the IS 500 at all but both models can be upgraded with the F Sport 19-inch forged alloy wheels for $2,450. For the Premium, these wheels can also be had as part of the Special Appearance Package. Only 150 models will be equipped with this package that will also come with Molten Pearl exterior paint, black NuLuxe upholstery, color-matched floor-trimmed mats, and matching key gloves.