It wasn’t too long ago that V8-powered muscle cars dominated the performance market. The BMW M3, Audi S4, and the Mercedes C63 AMG all had V8s at one point in time and these V8s helped push them to new heights both in sales and performance. However, the push for tighter fuel economy forced the segment to embrace smaller engines and turbocharging.
Lexus has chosen to pivot and re-use a familiar performance formula for its performance sedan, the 2024 Lexus IS500 F Sport Performance. But is it a formula that can still get results on the track and sales? or is it past its expiration date both in thrills and the ability to get maximum attention from customers?
Familiarity reigns supreme
With the bulk of the changes taking place under the hood, It’s no surprise that Lexus chose to embrace a light touch when it came to the IS500’s other additions. The exterior styling is largely carried over from other IS models but the IS500 is a part of Lexus’s new F Sport Performance sub-brand and while the moniker itself is a mouth full to say, the model does get bigger wheels, stacked quad-exhaust tips, and benefits from the crisp exterior styling which appeared when the model was first revamped a few years ago.
The F Sport Performance badge is also a slight demotion for the IS500 with the last V8-powered IS being a pure F model with no strings attached. The interior gets minor trim adjustments but largely maintains the core blueprint that has defined other IS models with the brand’s latest infotainment system still being a focal point of the interior. Unfortunately, that means the finicky touchpad controller (which is thankfully being phased out) is still an enduring presence but the screen also has full touch capability for those who prefer avoding the frustrations created by the aforementioned touchpad. The rear seats are tight for taller passengers but that’s on par with the rest of the segment and the trunk is large enough for a good load of groceries.
V8 is old-school heart of the operation
Loom under the hood and you’ll find the brand’s familiar 5.0-liter naturally aspirated V8. This V8 has seen duty in other Lexus performance models over the years and at first glance, it seems to be mostly the same. However, it now makes 472-hp (a gain of 56 hp when compared to the last F model) and an intake bypass valve helps enhance the exhaust note when it goes past 2,800 RPMs.
Lexus says that the IS500 can make the sprint to 60 mph in a brisk 4.3-seconds which is on par for the segment and is also an improvement over the 5.3 seconds the V6-powered IS350 needs to accomplish the same feat. The V8 is rightfully the star of the show and while it prefers you ignore its rather paltry fuel economy figures, it makes up for it with flair and boldness.
Unfortunately, that level of polish and flair doesn’t extend to the rest of the IS500’s performance hardware. The eight-speed automatic is a prominent exception but the chassis, suspension, and the steering all feel like they are not part of the same club with our tester feeling a bit uncomposed when going through corners which we suspect is partly due to the heavier V8 shifting the weight distribution more towards the front. This shift makes the car feel heavier and it does force you to take some twisty turns with more care than you would in the lighter V6-powered model.
Value Quotient
Pricing for the 2024 Lexus IS500 F Sport Performance starts at $60,020 for the base model, with our tester being a range-topping Premium variant with those starting at $64,520 before taxes and fees are applied. While loading it up with options can cause the price to surpass the $70,000 barrier. Buyers can still get a good value if they carefully choose only the essential options and stick with the base model since the V8 reason is the whole reason why your buying it to begin with versus visual gimmicks.
We hope that the rest of the IS500’s performance hardware eventually gets on the same page as the engine because the 2024 Lexus IS500 F Sport Performance has an impressive amount of potential and will still do a good job delivering ample amounts of fun. We also encourage you to get it while you can since it’s not known if the IS500 in its current form will continue on in the next-generation model.
Carl Malek has been an automotive journalist for over 10 years. First starting out as a freelance photographer before making the transition to writing during college, his work has appeared on numerous automotive forums as well as websites such as Autoshopper.com.
Carl is also a big fan of British vehicles with the bulk of his devotion going to the Morgan Motor Company as well as offerings from Lotus, MG, and Caterham. When he is not writing about automobiles, Carl enjoys spending time with his family and friends in the Metro Detroit area, as well as spending time with his adorable pets.