2024 Lexus LM price and specs: Luxury people-mover tops $220,000

The luxury Lexus LM – the plusher twin of the privately-imported Toyota Alphard people-mover – will be the most expensive model Lexus sells in Australia when it arrives in the coming months.

  • 2024 Lexus LM pricing and specifications
  • Hybrid LM350h seven-seat and LM500h four-seat models
  • Luxury interior claimed to offer business-class-like comfort
  • Priced from $160,888 plus on-road costs

The 2024 Lexus LM will be the most luxurious Lexus in Australian showrooms today when it arrives later this year or early next year.

The LM is the luxury Lexus version of the Japanese-market Toyota Alphard and Vellfire people-movers, which are popular in Australia as private imports (vehicles imported as used cars that aren't sold as new locally).

It will be available with a choice of non-turbo or turbocharged petrol hybrid power, with front- or all-wheel drive, and four or seven seats, depending on variant.

First to arrive in December 2023 will be the non-turbo LM350h Sports Luxury with seven seats, available with front-wheel drive for $160,888 plus on-road costs, or all-wheel drive for $165,888 plus on-road costs.

Due in early 2024 is the flagship turbo hybrid LM500h Ultra Luxury, with four seats exclusively – and a $220,888 plus on-road costs price tag.

It will become the most expensive model Lexus Australia currently sells, exceeding the $218,242 plus on-roads of the LC500 V8 convertible, and the $213,561 plus on-roads of the four-seat LX600 Ultra Luxury SUV.

The most expensive Lexus ever sold in Australia remains the LFA supercar of 2011, priced from $700,000 plus on-road costs.

Few details of standard equipment have been confirmed thus far, however Lexus Australia promises "comfort and amenity normally imagined with first and business class airplane travel."

Powering the LM350h is a 2.5-litre non-turbo four-cylinder petrol engine combined with electric motor assistance for quoted outputs of 184kW and 270Nm, available with front- or all-wheel drive.

Meanwhile the LM500h upgrades to a 2.4-litre turbocharged four-cylinder petrol engine with electric motors, claimed to deliver "more than 200kW" in combination with all-wheel drive.

Lexus Australia says "dealers ... have been inundated with customer enquiry", and that "demand will initially exceed supply for this vehicle by a significant margin."

The 2024 Lexus LM is due in Australian showrooms from December 2023, pending any delays.

2024 Lexus LM Australian pricing

  • LM350h 2WD Sports Luxury – $160,888
  • LM350h AWD Sports Luxury – $165,888
  • LM500h AWD Ultra Luxury – $220,888

Note: All prices above exclude on-road costs.

Limited standard equipment details have been confirmed thus far. This story will be updated as more information becomes available.

2024 Lexus LM350h Sports Luxury standard features:

  • Sliding rear doors
  • Two second-row and three folding third-row seats

2024 Lexus LM500h Ultra Luxury adds (over LM350h):

  • Four-seat interior
  • Two "VIP throne" rear seats
  • Rear Climate Concierge controls for rear passengers
  • 48-inch TV-like widescreen for rear passengers
  • 23-speaker Mark Levinson premium sound system
  • Glass panel between front and rear seats (which can be lowered or raised)
  • In-built drinks fridge
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Alex Misoyannis

Alex Misoyannis has been writing about cars since 2017, when he started his own website, Redline. He contributed for Drive in 2018, before joining CarAdvice in 2019, becoming a regular contributing journalist within the news team in 2020. Cars have played a central role throughout Alex’s life, from flicking through car magazines at a young age, to growing up around performance vehicles in a car-loving family.

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