2024 Lexus LM: Business class people mover commands first class price

Lexus has confirmed the first examples of the ultra-luxurious LM people mover are set to arrive in Australian showrooms this year.

The 2024 Lexus LM will be sold initially in seven-seat configuration with the LM 350h Sports Luxury, available with two- or all-wheel drive priced from $160,888 and $165,888 before on-road costs, respectively. This makes it around $30,000 more expensive than the current Mercedes-Benz V-Class flagship.

In early 2024 Lexus will also introduce the four-seat flagship LM 500h Ultra Luxury, which will be priced from $220,888 before on-road costs. This makes it the most expensive Lexus currently offers, following the LC 500 convertible ($218,242 before on-roads) and the LX 600 Ultra Luxury ($213,561 before on-roads)

LM 350h models are powered by a 2.5-litre four-cylinder engine with a series-parallel hybrid system producing system outputs of 184kW and 270Nm. This powertrain appears to be the same one used in the Toyota Kluger Hybrid.

The flagship LM 500h on the other hand is powered by a 2.4-litre turbocharged four-cylinder hybrid with “more than 200kW” and all-wheel drive. It’s unclear if this is a version of the powertrain used in the RX 500h F Sport Performance.

Lexus has confirmed the LM 350h has second-row captain’s chairs and three-person third-row bench that can be folded away with a “push of a button”.

The four-seat LM 500h takes this up a notch with “two VIP throne seats” in the second row, as well as a glass partition, a “world-first” 48-inch widescreen for rear passengers, 23-speaker Mark Levinson sound system, as well as a built-in mini fridge.

Lexus customers and guests attending events surrounding the 2023 Melbourne Cup in early November will be among the first to be experience the LM. They will be chauffeured to and from the Flemington Racecourse between November 4 and 11.

Lexus Australia chief executive John Pappas said local dealers were inundated with customer enquiries ever since the second-generation LM was revealed, and confirmed for the Australian market in April.

“The reality is that demand will initially exceed supply for this vehicle by a significant margin, so we therefore need to manage customer expectations,” said Mr Pappas.

The Lexus LM, as well as the boxy GX off-roader, form as two of the three new vehicles Lexus plans to launch locally before the middle of 2024.

The third vehicle still hasn’t been confirmed yet, but it’s expected to be the Toyota Yaris Cross-based LBX small crossover.

The 2024 Lexus LM range is priced as follows:

2024 Lexus LM 350h 2WD Sports Luxury: $160,8882024 Lexus LM 350h AWD Sports Luxury: $165,8882024 Lexus LM 500h AWD Sports Luxury: $220,888

All prices are before on-road costs.

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