The Lexus IS 500 F Sport Performance is a compact, rear-wheel-drive sport sedan with a 5.0-liter naturally aspirated V8 where the IS 350 has a 3.5-liter V6. It arrived for the 2022 model year with 472 hp and 395 lb-ft, and the 2025 model year was its last. For 2026, Lexus sells the IS only as the IS 350. Lexus revealed the car on February 22, 2021. It credited Chief Engineer Naoki Kobayashi and the team at Lexus International, and said the car was developed exclusively for the North American market. Japan got it later. The IS 500 was the first model in a new F Sport Performance line, which Hagerty explained sits above F Sport and below the full F cars. It also put a V8 back in the IS lineup for the first time since the IS F ended in 2014.
The V8 makes its 472 hp at 7,100 rpm and its 395 lb-ft at 4,800 rpm. Lexus later named it as the 2UR-GSE. It drives the rear wheels through the same eight-speed Sport Direct Shift automatic used in the RC F. Lexus quoted 0 to 60 mph in 4.4 seconds in testing by AMCI, and a curb weight of 3,891 pounds. That's only 143 pounds more than an IS 350 F Sport. The chassis changes were modest. Every IS 500 got adaptive dampers, a Torsen limited-slip differential, a Yamaha rear performance damper, and bigger brakes with 14.0-inch front rotors and 12.7-inch rear rotors. Motor1 reviewer Jeff Perez wrote in 2024 that the suspension is barely different from the IS 350 F Sport's. Perez still said the car "comes pretty close to a Forever Car."
How to spot an IS 500 next to an IS 350
Start with the hood. Lexus raised it nearly 2 inches and gave it sculpted center character lines, so the IS 500 has a bulge running down the middle. The front bumper and fenders were lengthened to make room for the V8.
The back end is quicker to read. The IS 500 has a quad exhaust with its tailpipes stacked in pairs, framed by a revised lower diffuser accent and a black rear lip spoiler. Dark chrome window trim and black F Sport Performance badges on the sides finish the list.
The wheels cause the most mix-ups. A standard IS 500 wears 19-inch split 10-spoke Enkei alloys made only for this car. Lexus says they weigh about 1 pound less per wheel in front and 2 pounds less in back than the regular F Sport 19s. BBS wheels came on the limited editions, and Lexus added an available BBS design for the 2025 IS 500.
What it cost, and how it ended
The 2022 IS 500 started at $56,500. The $61,000 Premium added a 17-speaker Mark Levinson system, navigation, a panoramic view monitor, triple-beam LED headlights, and a power rear sunshade. By 2024, the base car cost $60,545 with destination, according to Motor1, close to the $60,775 BMW M340i and well under the $77,175 M3. Hagerty put the 2025 base price at $60,595 with destination. The 2022 Launch Edition was capped at 500 cars, priced at $67,400, and painted only in a new color called Incognito. It had matte black 19-inch split seven-spoke BBS wheels, about 4 pounds lighter per wheel than the standard IS F Sport wheel. For 2025, a Special Appearance Package on the IS 500 F Sport Premium added Flare Yellow paint, BBS wheels, and yellow stitching, limited to 180 units. The 2025 Ultimate Edition, announced on May 19, 2025, was the send-off. It was also capped at 500 cars for North America and kept the standard 472 hp. Lexus gave it red Brembo six-piston front calipers over 380 mm discs, matte black forged BBS wheels, a metallic light gray paint called Wind, and a Circuit Red and black cabin with an LFA-inspired steering wheel. The Autopian described it as the US version of Japan's run-out IS 500 Climax Edition.
Lexus's September 9, 2025 release for the 2026 IS said the car would only be offered as the IS 350. A notice on Lexus's Japanese website, reported by The Autopian, said IS500 production would end in November 2025. The IS name carries on. The 2027 IS 350 starts at $47,545 including a $1,395 destination fee and uses a 311-hp V6, and Lexus plans 350 cars for North America with a Special Appearance Package in a green called Envious. In 2021, Hagerty noted the IS 500 would soon be the only V8 car in its class once the Mercedes-AMG C63 moved to four-cylinder power. Three years later, Motor1 called it the only compact luxury performance car with a naturally aspirated V8. Lexus called the Ultimate Edition a celebration of "one of the last remaining naturally aspirated luxury V8s on the market."
Think the raised hood works? Rate the IS 500 against its rivals on WhipJury.
Sources:
Reveal date, chief engineer, North American focus, output, rpm peaks, weight, AMCI time, chassis, brakes, and exterior changes: Lexus
2022 prices, Premium equipment, Launch Edition, and wheel weights: Lexus
The 2025 BBS option and the Flare Yellow package: Lexus
The Ultimate Edition, the 2UR-GSE name, and the V8 quote: Lexus
The 2026 IS 350-only lineup: Lexus
The 2027 IS price, V6 output, and Envious package: Lexus
The F Sport Performance tier, the IS F's 2014 end, and the C63 comparison: Hagerty
The 2025 base price: Hagerty
The 2024 review, suspension critique, and rival prices: Motor1
The Japanese production notice and the Climax Edition: The Autopian
Photos via Wikimedia Commons: HJUdall (CC0 1.0) and Tokumeigakarinoaoshima (CC BY-SA 4.0)
Frequently Asked Questions
Jeffrey Wiley has spent more time than he'd like to admit thinking about what makes a car look right. He writes about automotive design, car culture, and the opinions people have strong feelings about. He lives in north Georgia.
