Lexus has earned status as a world-class premium automaker over the last 37 years, but it wasn’t always that way. The brand was founded in Japan in 1989, and at that time only the engineers of the LS sedan were aware that Toyota intended to compete in the luxury car market against established American and European brands such as Audi, BMW, Cadillac, Jaguar, and Mercedes-Benz.
It became very clear, very quickly, that Lexus had what it took to take the fight to its rivals. The LS — codenamed the F1, short for flagship number one project — quickly earned a reputation for vault-like construction quality, smooth powertrain performance, exceptional ride comfort and, considering the overall package, a strong value proposition.
Lexus thoroughly updated the LS 400 in 1995 with refreshed styling, more room, and an upgraded version of the 4.0-litre V8 engine. A new LS 430 debuted for the 2001 model year with a larger 4.3-litre engine to keep pace with German sedans such as the BMW 7 Series and the Mercedes-Benz S-Class. In 2007, Lexus launched the LS 460 with a powerful 4.6-litre V8 and an available long-wheelbase L version, while the hybrid-powered LS 600h L showed up a year later.
A major change to the LS line shook things up for 2018 with the introduction of the LS 500’s twin-turbocharged V6 engine, alongside the LS 500h and its hybrid powertrain. Those two models carried forward until 2026, which is the final year for the LS in the North American market.
Lexus LS Fifth Generation (2018-2026)
The fifth-generation 2018 Lexus LS was very different from its predecessors. For years, Lexus built its reputation on world-class V8 engines — many still remember the tower of champagne glasses balanced atop the original LS 400’s hood with the engine running at maximum speed — but this new LS 500 flagship luxury car had a 3.4-litre twin-turbo V6. A 10-speed automatic transmission sent 416 horsepower and 442 pound-feet of torque to standard all-wheel drive in Canada. Natural Resources Canada estimated its average fuel consumption at 13.0 litres per 100 kilometres in the city, 8.7 on the highway, and 11.0 combined.
A hybrid LS 500h was launched simultaneously. It boasted a 3.5-litre V6 engine and a pair of water-cooled, permanent-magnet electric motors that sent 354 hp through a complex continuously variable transmission (CVT) that was programmed to act like a 10-speed. Lexus claimed the 500h could operate under electricity alone at up to 130 km/h, but there was no way to lock the hybrid into electric mode. The 2018 LS 500h consumed 10.3 L/100 km city, 7.6 highway, and 9.1 combined with standard AWD.
The 2018 LS also introduced a fluid new design in contrast to the relatively staid styling of its predecessors. By then, Lexus’s spindle-shaped grille had proliferated across its lineup. But as the brand's flagship sedan, the LS wore an intricate pattern inside the spindle that gave it a premium appearance. The rest of the bodywork peaked and ebbed in a flowy design with bulges over the wheels and a low, sleek roofline.
For its fifth generation, the LS 500 was 13 millimetres lower than the outgoing model with a wheelbase 35 millimetres longer than the previous long-wheelbase LS. The available F Sport package provided a slightly sportier take on the design and also had a unique interior with detailed stitching patterns in the leather upholstery.
The designers used Japanese omotenashi principles of hospitality and mindfulness when crafting the LS 500’s interior. The LS 500 and its 500h hybrid counterpart were designed to be “the definitive new-generation luxury car embodying Japanese tradition and culture,” LS Chief Engineer Toshio Asahi said when the 2018 model was announced.
The interior incorporated Japanese inspiration such as “layered herringbone wood trim and ambient lighting reminiscent of Japanese lanterns.” An Executive model was available that incorporated Kiriko Glass ornamentation and hand-folded pleats on the door trim.
A 12.3-inch infotainment screen featured prominently in the dashboard. Unfortunately, Lexus continued to use its touchpad-based interface instead of an easier touchscreen system. An optional 24-inch head-up display projected useful information directly on the windshield, and a 24-speaker Mark Levinson stereo system provided excellent audio performance.
The Lexus Safety System+ was standard and included a forward collision warning with pedestrian detection, adaptive cruise control, lane keep assist, lane departure warning, and high beam assist. Lane centring and front cross-traffic alert were available on more expensive packages.
At launch, the Lexus LS 500 carried a starting MSRP of $102,700, and pricing for the LS 500h hybrid began at $134,050.
Apple CarPlay support was added for the 2019 model year, and Android Auto and Alexa integration were added for 2020.
There was a significant update for 2021 including suspension and powertrain refinements for a smoother ride, quieter operation, and improved responses. The LS 500h’s hybrid powertrain was also tweaked for 2021 with enhanced electric propulsion and revamped transmission programming, and Lexus ditched its touchpad infotainment system for a much improved 12.3-inch touchscreen.
The new-for-2023 Lexus Safety System+ 2.5 suite featured enhancements to the pre-collision system, forward collision warning, automatic emergency braking, pedestrian and cyclist detection, adaptive cruise control, and lane departure warning with steering assist. Additionally, lane change assist, which activates when the driver turns on a turn signal, was added to the lane tracing assist system.
An updated infotainment system also debuted in 2023. It still featured touchscreen controls, and wireless connectivity was added to Apple CarPlay and Android Auto. For 2024, Lexus improved the LS sedan’s digital instrument cluster, added more safety features across its packages, and integrated digital key functionality.
The 2026 model year will be the last of the line for the Lexus LS in North America. To celebrate the car that kicked off the automaker’s existence, Lexus launched a special LS 500 Heritage Edition, limited to just five units in Canada. It was painted a unique Ninety Noir shade of black and featured a Rioja Red leather interior, both LS firsts. This Heritage Edition was the only model listed for sale for 2026 with a Canadian asking price of $126,800.
CarGurus.ca pricing data shows an average list price of between $40,000 and $55,000 for early fifth-generation Lexus LS models. Sales numbers steadily declined over this generation, meaning there are few recent models on the used market. Canadian buyers should expect to pay around $65,000 for one of the final model years.
Lexus LS Fourth Generation (2007-2017)
The fourth-generation Lexus LS sedan launched for the 2007 model year and continued to move the nameplate upmarket. Now named the LS 460 due to the increase in engine size from 4.3 to 4.6 litres, the fourth-generation Lexus LS sedan was quicker, more refined, more efficient, and bigger than before.
In addition to the standard LS, a long-wheelbase version with an L appended to the LS 460 moniker debuted to attract clientele who wanted to be driven, not to drive. Its massive rear seat and suite of premium second-row options were designed to coddle two occupants with heated, cooled, and reclining seats with massage functions.
Power for both the LS 460 and its long-wheelbase sibling was provided by a 4.6-litre V8 engine that sent 380 horsepower and 367 pound-feet of torque to the rear wheels through the world’s first eight-speed automatic transmission. Those increases of 102 hp and 55 lb-ft made the 460 quite a bit quicker than the 430 it replaced. However, partly due to the new transmission, the LS 460 was also more fuel efficient with Natural Resources Canada estimates of 14.2 L/100 km in the city, 9.5 on the highway, and 12.1 combined. The long-wheelbase LS 460 L was 0.2 L/100 km higher in each measurement.
Tech features included an optional hard-disk-based navigation system (quite outdated by today’s standards), a 450-watt Mark Levinson audio system, an automated parking system, and adaptive cruise control.
New for the 2008 model year were an adaptive air suspension system, variable ratio steering, and factory-installed satellite radio. An all-new LS 600h L model debuted in 2009 with a 5.0-litre V8 engine coupled to a pair of electric motors and producing a total of 438 hp. A CVT was used in place of the 460’s conventional automatic. Intended to compete with V12-powered German luxury sedans from BMW and Mercedes-Benz, the LS 600h L came standard with all-wheel drive and returned an NRCan-estimated 12.0 L/100 km city, 10.7 highway, and 11.4 combined.
Both the standard LS 460 and the 460 L gained optional AWD in 2009, and while power stayed at 380 hp for RWD models, AWD dropped that to 357 hp. A Sport package was added to the RWD short-wheelbase LS in 2010 equipped with Brembo brakes at all four corners and tweaked steering and suspension for improved performance. The 2010 model year also brought streaming Bluetooth audio to both the LS 460 and LS 600h lineup.
The LS lineup received only a few small changes in 2011 and 2012, but big changes were in store for 2013. Refreshed inside and out, the 2013 LS lineup wore an early version of Lexus’s spindle grille and received a new infotainment screen that was operated by a controversial mouse-like controller instead of relying on touch. Lexus called it the Remote Touch Interface, and it took some time for drivers to get acquainted with the controls. The sportier LS 460 F Sport model also appeared in 2013 along with driver-selectable Eco, Comfort, Normal, Sport S and Sport S+ Drive Mode Select settings. Horsepower jumped by six to 386 in the LS 460 or 360 with AWD.
The RWD drivetrain was discontinued in Canada for the 2015 model year. There were no further major changes as the Lexus LS saw its fourth generation out.
When new, the 2007 Lexus LS started around $86,000, the long-wheelbase model cost an additional $12,000 and change, and the LS 600h started at just under $120,000 when it launched for the 2009 model year. By 2017, the LS 460 started near $95,000 and the long-wheelbase LS 460L was around $130,000. The hybrid-powered LS 600h’s MSRP was nearly $150,000 when it went out of production following the 2016 model year.
As these cars weren’t exactly hot sellers when they were new, they can be hard to find on the used car market in Canada. We located just 11 cars nationwide during our search, and none of those were the hybrid model. At the time of writing, the average list prices at CarGurus.ca for an early fourth-generation LS 460 ranged from less than $10,000 to $16,000. A late-model LS 460 should sell for between $30,000 and $40,000.
Lexus LS Third Generation (2001-2006)
Lexus launched the third-generation LS for the 2001 model year. In place of the well-known 4.0-litre V8 was a larger 4.3-litre engine. Although horsepower stayed the same at 290, torque rose by 20 lb-ft for a total of 320. A five-speed automatic transmission sent power to the rear wheels, and Lexus quoted a 0-100 km/h time of roughly 6.5 seconds.
The LS 430 was larger than the LS 400 it replaced, riding on a wheelbase stretched by roughly 7.5 centimetres. The bodywork was still on the boxy side, but the LS 430 was quite aerodynamic with a .25 drag coefficient (when its optional air suspension was lowered).
As before, the LS was engineered to deliver effortless luxury. With its extremely quiet cabin, comfortable seats, and refined ride, the 2001 Lexus LS 430 stoically matched its European competition for thousands of dollars less.
A freshening for the 2004 model year brought slightly revised exterior styling to go with a new six-speed automatic transmission. Lexus also introduced keyless entry, a rear-view camera, and Bluetooth connectivity. Also new for 2004 was a pre-collision system that prepared the car for unavoidable accidents by tightening the seatbelts and preparing the brakes for maximum stopping power.
Engine power dropped on paper in 2006 to 278 hp and 312 lb-ft due to a new SAE-approved measurement system, but there weren’t any actual changes to the powerplant. A new fourth-generation LS sedan debuted in 2007.
Third-generation LS 430 sedans are scarce today in Canada. If you’re able to find one near you, expect it to cost anywhere from $10,000 to $25,000 depending on its odometer reading and condition.
Lexus LS Second Generation (1995-2000)
It may not have looked all that different from the first LS 400, but the second-generation model that debuted for the 1995 model year was almost entirely new. The car’s wheelbase was slightly lengthened, which resulted in greater room. But despite its larger size, the new LS 400 was also a few hundred pounds lighter than its predecessor.
The 4.0-litre V8 engine returned for the second generation but was upgraded to produce 260 hp and 270 lb-ft of torque. The four-speed automatic transmission carried over from the first-generation LS 400, sending power to the rear wheels. Natural Resources Canada estimated that the 1995 LS 400 would burn 14.4 L/100 km in the city, 10.7 on the highway, and 12.7 combined.
An upgraded version of Lexus’s 4.0-litre V8 with continuously variable valve timing for 1998 bumped horsepower to 290 and torque to 300 lb-ft. A five-speed automatic transmission replaced the previous four-speed unit. Also new was a touchscreen display that showed up on the options list for the first time displaying GPS navigation. The 2000 model year marked the end of second-generation Lexus LS 400 production.
When it was new, the 1995 Lexus LS 400 started at more than $75,000 in Canada. Options such as air suspension or a high-end Nakamichi audio system could add a few thousand dollars to the MSRP. By 2000, the price had risen only slightly to just under $80,000.
Used Lexus LS 400s are rare finds on the used vehicle market in Canada. We found a single unit available in our research, a 1998 model with 170,000 kilometres on the odometer priced at $8,000.
Lexus LS First Generation (1990-1994)
Despite parent company Toyota having no history in the premium automotive segment, the 1990 Lexus LS 400 wasn’t just a good car — it was a great car. The V8-powered Lexus LS 400 brought modern design, impeccable craftsmanship, and Japanese reliability to a segment that had grown used to temperamental luxury cars that required lots of expensive maintenance. Not only that, but Lexus priced the LS well below the competition. It’s no surprise, then, that the initial Lexus LS was an immediate success.
Buyers wouldn’t know it at the time, but decades later the Lexus LS 400 and its all-aluminum 1UZ-FE V8 engine would be considered one of the most reliable vehicles ever made. It wasn’t completely without issues, but as the klicks racked up on first-generation Lexus LS sedans, so did their reputation for durability.
Unlike most cars of this vintage, you can still find the occasional first-generation Lexus LS 400 on the used vehicle market. As robust as its V8 may be, rust remains an issue and is worth inspecting for carefully before deciding whether to proceed with a purchase. We spotted a handful of cars in excellent condition across the country selling for $7,000 to $13,000 with the price largely dependent on odometer reading and level of upkeep.
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