It’s been three years since I sold my 2011 E90 M3, yet I still turn and stare whenever I spot one on the road. The V8 M3 did so many things right—it had a phenomenal engine, balanced handling, and livable luxury—and yet it hurt to own because of its frequent maintenance issues.
But there weren’t any alternative compact sedans with free-revving V8s until the debut of the Lexus IS 500. Is the IS 500 the reliable V8 M3 of my dreams? Sadly, no, because Lexus isn’t pitting the IS 500 against track-buffed models like the M3, C63 or CT4-V Blackwing. On price and sportiness, the IS 500 is a BMW M340i competitor.
The 2023 IS hails from the model’s third generation, which is currently in its ninth production year. Simply put, the model is ancient, and even though Lexus has recently refreshed it, it’s smaller and less tech-laden than the G20 3 series against which it competes. The IS 500’s kid-sized rear seat may be tight for grownups. Some may see this as an asset, though, as an E90-sized sedan packing 472 hp has certain appeal.
Nine years ago or not, the IS’s aggressive styling still looks good to my eyes, and my butt still approves of its driver’s seat. The main tells of the car’s age are its LFA-inspired (blocky) steering wheel, button-heavy dashboard, and trackpad-driven infotainment system. Modern Lexuses have followed the button-reduction trend and ditched the trackpad.
The IS does support touchscreen operations and Apple Carplay/Android Auto. The cabin’s material quality is top-notch, with soft leather covering the supportive seats and sporty steering wheel. The switch gear is made of cool metal and high-quality plastic.
So, it’s a small family sedan with luxury fittings and a somewhat dated interior. How does it drive?
For me, the whole reason to buy an IS 500 is its 472 hp 5.0L V8. This engine is what separates the IS 500 from the rest of the soft and quiet Lexus lineup. The IS 500 still has excellent sound deadening and a comfortable ride, but throaty V8 burbles are just a brush of the throttle away. Step on the gas and push the revs higher, and the exhaust note turns angry as the car thrusts for the horizon. I am absolutely satisfied with the IS 500’s straight-line pace.
The IS 500’s 472 hp suggests that the car is ready to shred tires at every stoplight, but in reality, the engine needs 3k rpm to find its legs. The IS 500 needs forceful provocation before it misbehaves; it won’t accidentally toast its tires like a turbocharged F80 M3.
The Lexus 2UR-GSE large-displacement naturally-aspirated V8 has few peers. The most similar modern engine is the Ford Mustang GT’s Coyote V8. Both rev to over 7k rpm (7300 rpm for the 2UR-GSE) and do their best work from the mid-range to the redline. Compared to the forced-induction competition from Germany, the Lexus 2UR-GSE feels reedy at low rpm.
(The IS 500 hits its rev limiter 900 rpm before the E90 M3 calls it quits, and the berserk redline rush of the BMW is missing in the Lexus.)
Some of the IS 500’s low-rpm lethargy can be blamed on the Eco and Sport drive mode tuning. Simply put, the throttle mapping for light pedal inputs is too tame. The engine feels lazy when light throttle applications are used. Sport+ mode wakes up the low-end torque but stiffens the shocks, too. I’d like to pair a softer ride with the alert throttle. (Is this possible?)
The IS 500 has an electronically adjustable suspension. The tuning prioritizes comfort without compromising control. Sport+ stiffness is pleasant on all but the bumpiest backroads. The body feels tightly screwed together; there are no shakes or shivers over imperfect pavement. For a performance street car, the IS 500 is well-judged.
While my test route didn’t offer opportunities to test the limits of adhesion, the IS 500 found a friendly flow through the corners. Its chassis is well-sorted, and its steering has good speed and weight. (Though I’d like more tire feedback through the rack.) The IS 500 doesn’t dart into corners like an Alfa Romeo Giulia; instead, it moves with moderated confidence.
Less inspiring are the IS 500’s brakes. The car stopped fine, but my tester’s brake pedal was spongy. I hope other IS 500s have a firm brake pedal.
The IS 500’s biggest letdown is its eight-speed automatic transmission. The shift speed is merely adequate, and the transmission frequently slurs downshifts and causes head bob. Automatic transmissions don’t have to detract from a great engine, but Lexus’s gearbox does.
Is the IS 500 a hair-on-fire maniac like the E90 M3? My first impressions say no; Lexus is fighting with a dull katana.
Is the IS 500 a worthy competitor to the M340i? For street driving, the operatic Lexus V8 makes the IS 500 an event the M340i can’t match. But I’d rather have the nimble, quick-shifting BMW on the track.
No matter how you cut it, the $60k IS 500 is the cheapest way to get Lexus’s blockbuster V8…and a damn good luxury sedan, too. Considering Lexus’s famed durability and luxury, the IS 500 has long-lasting appeal. If you like the flavor, get it while it’s hot!
Mike's Steering Column 