2023 Lexus IS 500

The Lexus IS 500 is officially the only V8-powered compact sedan that you can still buy in America, and that alone makes it something special in a segment that has gone the downsizing route. Gone is the V8 in the Mercedes-AMG C63, while cheaper V8 sedans like the Dodge Charger and Chrysler 300 are much larger and lack premium badges. Instead, the 472-horsepower IS 500 finds itself competing against the six-cylinder BMW M340i and the four-cylinder Mercedes-AMG C43 on price. The Germans are chock-full of the latest technologies and more accommodating for occupants, but they don't sound as good as the IS 500's V8. The Lexus isn't just its engine, though; it also has sporty styling thanks to its F Sport trimmings, a well-built interior, and an absorbent ride. This review of the Lexus IS 500 demonstrates that while it isn't all things to all people, its old-school nature is hard to resist if you can live with its compromises.

The price of the new 2023 Lexus IS 500 begins at an MSRP of $58,270 for the F Sport Performance, increasing to a cost of $62,770 for the F Sport Premium. These prices exclude the destination charge of $1,150 in the USA as well as any options.

By comparison, BMW charges $56,400 for the M340i with rear-wheel drive or $58,400 with the xDrive all-wheel-drive system, while the Mercedes-AMG C43 is now starting at $59,900.

The combination of Lexus' old-school approach to driving dynamics and the fitment of a naturally-aspirated V8 engine endows the IS 500 with a markedly different feel to its German rivals - for better or worse. On the downside, we found that the IS 500 initially doesn't feel nearly as quick as the numbers suggest, with the transmission's slow downshifts and the engine's lack of low-down torque both robbing the car of the potency one would expect. Initially, then, its turbocharged rivals feel a lot more energetic. But this sedate character is also what makes the IS 500 a relaxing car to drive when you're not in the mood to thrash it. The cabin is quiet and the ride is smooth, so you won't need to grit your teeth as you approach a stretch of imperfect tarmac.

We also found the steering to be a highlight, as it's both well-weighted and surprisingly communicative. While not overly sporty, the Lexus handles and grips well, but you're always aware of the slightly softer suspension. So, is it useless as a sport sedan? Not at all, but you do need to put in some effort to extract excitement from the IS 500. In manual mode, you have the freedom to extend the V8 beyond 7,000 rpm, and the car suddenly feels quick and alert, all while making a lovely noise. It's not going to match its competitors for swift lap times, but that's a silly barometer with which to judge what is still a luxury sedan at its core.

In an era where it has become more challenging to distinguish the way one car feels from another, the Lexus IS 500 stands out. Its V8 engine will likely soon go the way of the dinosaurs, but while it's still around, it gives the IS 500 a personality not replicated by any other rival. And, while the automatic transmission isn't as decisive as we'd like, it's tuning - along with that of the chassis - means that the Lexus can be used as a comfortable daily driver just like any other sedan from the luxury marque. The IS range as a whole now shows its age with a rather small cabin and limited cargo space, but at least Lexus sweetens the deal with an array of comfort and safety features. This is by no means the cream of the sports sedan crop, but each time you find a stretch of road that allows you to stretch the IS 500's legs and hear that V8 howl, you're unlikely to find yourself thinking about one of its rivals. And isn't that what a great car is all about?

There are only two available IS 500 trims: the F Sport Performance and the F Sport Performance Premium. The latter adds $4,500 to your bill along with extras like a power rear sunshade, the larger 10.3-inch touchscreen, the wonderful Mark Levinson sound system, and premium triple-beam LED headlights. Not all of these are essential, but we do think the larger touchscreen is a must-have since you won't want to go near the fussy touchpad. Based on this, we'd recommend going for the Premium.