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2022 Lexus IS 500 F Sport Performance Launch Edition inaugurates the revived V8

Lexus is kicking off its V8 revival with a limited-run Launch Edition model of the 2022 IS 500 F Sport Performance. Painted in "Incognito" grey and exclusive to the North American market, the Launch Edition will be constrained to just 500 units, each boasting a serialized plaque and other unique elements.  In addition to the aforementioned paint finish (and it is indeed the only option for Launch Edition), you also get a set of 19-inch BBS wheels borrowed from the standard IS 350 F Sport's dynamic handling package, shown here in a nice gunmetal finish. As an added bonus, Lexus says they weigh about four pounds less per corner than the regular F Performance wheels. Not bad.  2022 Lexus IS 500 F Sport Performance Launch Edition View 33 Photos Inside, you get a handful of unique interior bits, headlined by the serial number plaque on the center console. Other nice touches include a (heated) silver ash wood steering wheel with faux suede inserts (which you'll also find on the seats, door accents and center console) and a "Launch Edition" animation in the instrument cluster.  Despite the lack of strict mechanical upgrades (unless you consider wheels to be in that category), the F Sport Performance Launch Edition's performance qualifications are pretty sound. You get the same 472-horsepower, 5.0-liter V8 with 395 pound-feet of torque, which is the same V8 Lexus has utilized elsewhere in recent F models. It currently powers the RC F coupe and, until last year, was also found under the hood of the larger GS F sedan. Like the BMW M3 it matches for power, the Lexus will come standard with rear-wheel drive and a limited-slip differential, making it a convincing performance offering, but Lexus cautions that while it is certainly more potent under the hood than the original IS F, the F Sport Performance will not represent the pinnacle of its "F" brand. Power will go to the rear end by way of the same eight-speed automatic that Lexus uses elsewhere. Just 500 examples of the Launch Edition will be built, and it will be exclusive to North America. Pricing will be announced a little closer to the IS 500 F Sport Performance's on-sale date, which Lexus has not yet shared.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Toyota cuts production target by 300,000 vehicles due to parts and chips shortages

TOKYO - Toyota cut its annual production target by 300,000 vehicles on Friday as rising COVID-19 infections slowed output at parts factories in Vietnam and Malaysia, compounding a global shortage of auto chips. "It's a combination of the coronavirus and semiconductors, but at the moment it is the coronavirus that is having the overwhelming impact," Kazunari Kumakura, an executive at the world's biggest car maker, said after the company revised its production target. Unlike other big global automakers that were forced earlier to scale back production plans, Toyota had managed to avoid cuts to output because it had stockpiled key components along a supply chain hardened against disruption following northeast Japan's devastating earthquake in 2011. Toyota's announcement on Friday is a further sign that no part of the global car industry has escaped the affects of a pandemic that has sapped sales and is hobbling its ability to take advantage of the recovery in demand that followed the initial waves of COVID-19. Car sales in China in August fell by almost a fifth from a year earlier because there were fewer vehicles for people to buy. Toyota now expects to build 9 million vehicles in the year to March 31, rather than 9.3 million. It did not revise its 2.5 trillion yen ($22.7 billion) operating profit forecast for the business year. Adding to a 360,000-vehicle cut in worldwide production in September, Toyota said on Friday it will reduce output by a further 70,000 this month and by 330,000 in October. It hopes to make up some of that lost production before its year-end. Demand for chips has soared during the pandemic as consumer electronic companies rush to meet stay-at-home demand for their smartphones, tablets and other devices. A heavy reliance on Southeast Asian factories for parts is a headache for Toyota, but its also a problem for its rivals that have struggled with what Volkswagen has described as "very volatile and tight" chip supplies. The German carmaker has warned it may need to cut production further as a result. Ford last month shut down production at a plant in Kansas that builds its best-selling F-150 pick up because of parts supply woes, with Renault extending partial stoppages at factories in Spain. Mercedes this month said it expects chip shortages to significantly lower third quarter sales. (Reporting by Tim Kelly; Editing by Muralikumar Anantharaman and Kim Coghill) Plants/Manufacturing Lexus Toyota

2021 Lexus IS teased, will be revealed next week

While the larger Lexus GS has finally been discontinued after declining sales, its smaller sibling is getting a new generation. The new 2021 Lexus IS will be revealed next week, and in the meantime, Lexus released this teaser image. It doesn't reveal too much, and the company was smart enough to make some adjustments so that playing with exposure and brightness in Photoshop wouldn't reveal anything more. All we can tell is that it's a sedan, it gets a full-width taillight design, and there's a bit of a diffuser treatment to the rear bumper. Lexus does confirm that this generation will be rear-wheel-drive, not that we were worried that would change. What we're left wondering is what will power those wheels. Previous rumors have speculated it could get a BMW inline-six from the Supra and Z4. Others have reported the current range of engines, including a turbo four-cylinder and a naturally aspirated V6, will carry over, and the 5.0-liter Lexus V8 could join the group. Fortunately we won't have to wait long to know the truth. The Lexus IS will be revealed on June 9. You can be sure to see it here on Autoblog. Related Video: