2023 Lexus IS 500 Review: Exactly What You’d Expect

Chris Tonn
by Chris Tonn

Fast Facts

2023 Lexus IS 500 Premium

Powertrain
5.0-liter V8 (420 horsepower @ 7,100 rpm, 395 lb-ft @ 4,800 rpm)
Transmission
Eight-speed automatic transmission, rear-wheel drive
Fuel Economy, MPG
17 city / 25 highway / 20 combined (EPA Rating)
Fuel Economy, L/100km
14.1 city / 9.3 highway / 11.9 combined. (NRCan Rating)
Base Price
$62,770 US / $77,288 CAN
As Tested
$66,085 US / $77,685 CAN
Prices include $1,150 destination charge in the United States and $2,338 for freight, PDI, and A/C tax in Canada and, because of cross-border equipment differences, can’t be directly compared.

The sports sedan, as a concept, once stood for something very different than what we see today. It was a four-door conveyance with a bit more verve than the pedestrian trim of a similar vehicle but generally unadorned with flash and frippery. Subtle differences were a gentle head nod to those enthusiasts of a likewise mind, but an uninformed onlooker knew nothing of the differences between it and a bland family sedan.


No longer. As tastes change and more steer toward lumbering crossovers, the builders of most sports sedans feel compelled to shout both audibly and visually. Roaring, farting exhausts, garish colors, and outrageous fender flares barely covering massive wheels scream “I AM SPECIAL” on behalf of the dwindling dozens of buyers who must announce their arrival among those who can afford the monthly nut. 


Who am I to judge what one buys with the bank’s money? I’ll admit to swooning over some of Germany’s finest at times. But Lexus isn’t typically one to shout. The brand that famously balanced champagne glasses upon an engine in a commercial tends to hew firmly to the old-world belief in subtlety. Thus, this 2023 Lexus IS 500 is perhaps the most Lexus of all sports sedans.


A glance at a spec sheet might betray these notions of automotive maturity. A quad-cam five-liter V8 pumping 472 horsepower at a screaming 7,100 RPM is anything but demure. But while you can - and should - wind out the lovely Lexus at times to let it sing, this car is perfectly happy to trundle along on a commute. The IS 500 does ride a touch more firmly than the four or six-cylinder IS models, but it is never punishing. It is simply sublime to drive in any manner.

It ain’t half bad to look at, either. Again, a very nuanced upgrade of the standard IS is all that stands out here, with a bulging hood, quad tailpipes, and flat black BBS forged 19-inch wheels making a statement only to those in the know. The predator grille is as always prominent, but years of familiarity across the entire Lexus lineup have blunted the impact a bit.

I’ve lamented before about the rear seating space in the IS. Perhaps it’s down to the fact that my kids are growing, but knee room does feel a bit tight back there when I have my seat set where I need for my large frame. Just turn up the always-excellent Mark Levinson stereo - still with a CD player! - and drown out any complaints from the spoiled teens. 

Just don’t expect to fumble your way through the touchpad with anything resembling grace. I’ve a feeling that this smallest sedan In the Lexus lineup isn’t a priority with the product planners, as this interface was outdated half a decade ago. It quickly turns shiny with french fry grease and is generally awkward to use. It’s long overdue for replacement with the latest screens introduced in the NX two years ago. 

Stash spaces for pocket detritus like keys or a cell phone are similarly not up to modern standards. With the elimination of the touchpad, one could easily rearrange (says the guy NOT holding an industrial design degree) the central console to accommodate a wireless charging pad. 

But once ensconced in those buttery red leather seats with nothing but the road ahead, all else is forgotten. I had a couple of hours to explore the tertiary roads of Appalachia during my time with the IS 500, and the hills were alive with both color and with a sonorous revvy V8. That suspension, just that much more firm in commuter duty, reacts to every input with precision and grace. It’s not a track-day special that demands ten-tenths to wring out a smile. Rather, the IS 500 asks little in return for a joyful jaunt through the backwoods.

Perhaps the most fitting competitor for the 2023 Lexus IS 500 isn’t another wild sports sedan from Bavaria or parts nearby. Rather, I see this more as a refined alternative to the modern pony car. Both have presence and agility when needed, but should the need arise for hauling four adults to a business luncheon or the like, asking colleagues or the boss to clamber into the way back of a muscle coupe might be a career-limiting move. 

[Images: © 2023 Chris Tonn/TTAC.com]

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Chris Tonn
Chris Tonn

Some enthusiasts say they were born with gasoline in their veins. Chris Tonn, on the other hand, had rust flakes in his eyes nearly since birth. Living in salty Ohio and being hopelessly addicted to vintage British and Japanese steel will do that to you. His work has appeared in eBay Motors, Hagerty, The Truth About Cars, Reader's Digest, AutoGuide, Family Handyman, and Jalopnik. He is a member of the Midwest Automotive Media Association, and he's currently looking for the safety glasses he just set down somewhere.

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3 of 43 comments
  • Zipper69 Zipper69 on Jul 05, 2023

    The design is BORING, for $60k+ I'd want to style and even a little flash!

  • Kcflyer Kcflyer on Jul 06, 2023

    New IS 500 or 3 year old LC500 for similar money?

    • 28-Cars-Later 28-Cars-Later on Jul 06, 2023

      I just happened to check two days ago, the MMR on the LC500 was in the 70s which wouldn't include a warranty or TTL.



  • Tassos You can answer your own question for yourself, Tim, if you ask instead"Have Japanese (or Korean) Automakers Eaten Everyone's Lunch"?I am sure you can answer it without my help.
  • Tassos WHile this IS a legitimate used car, unlike the vast majority of Tim's obsolete 30 and 40 year old pieces of junk, the price is ABSOLUTELY RIDICULOUS. It is not even a Hellcat. WHat are you paying for? The low miles? I wish it had DOUBLE the miles, which would guarantee it was regularly driven AND well maintained these 10 years, and they were easy highway miles, not damaging stop-go city miles!!!
  • Tassos Silly and RIdiculous.The REAL Tassos.
  • Lostboy If you can stay home when it's bad out in winter, then maybe your 3 season tire WILL be an "ALL-SEASON" tire as your just not going to get winters and make do? I guess tire rotations and alignments just because a whole lot more important!
  • Mike My wife has a ‘20 Mazda3 w/the Premium Package; before that she had a ‘15 Mazda3 i GT; before THAT she had an ‘06 Mazda Tribute S V6, ie: Ford Escape with a Mazda-tuned suspension. (I’ve also had two Miata NAs, a ‘94 & a ‘97M, but that’s another story.) We’ve gotten excellent service out of them all. Her 2020, like the others before it, is our road trip car - gets 38mpg highway, it’s been from NC to Florida, Texas, Newfoundland, & many places in between. Comfortable, sporty, well-appointed, spacious, & reliable. Sure, we’d look at a Mazda hybrid, but not anytime soon.😎
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