2024 Lexus GX priced in the US

The all-new 2024 Lexus GX will be priced from about $15,000-$20,000 higher than the new-generation Toyota Prado on which it’s based, at least in North America.

While the Lexus GX will be sold in Australia for the first time from next year, following its global launch in late January, in the US market it will be priced from $US64,250 ($A96,350) plus on-road costs – roughly $US10,000 ($A15,000) more than the Prado, which Toyota USA previously said would be priced from about $US55,000 (about $A80,000).

That opening figure is for the entry-level Lexus GX 550 Premium, while the flagship GX 550 Luxury+ will top the US range at $US81,250 ($A121,881).

All versions of the new Lexus GX initially sold in the US – and likely Australia – will be powered by an LX-derived twin-turbo 3.5-litre petrol V6 producing 260kW/650Nm, with the headline-grabbing four-cylinder 2.4-litre turbo-petrol hybrid powertrain set to be introduced at a later date.

This is where things get complicated, however, because the new Prado will only be offered with the electrified powertrain in the US (where it will be called the LandCruiser), whereas Toyota Australia’s Prado will come with a four-cylinder 2.8-litre turbo-diesel with a 48V mild-hybrid system, as per some HiLux variants from 2024.

It’s almost certain the hybrid powertrain will command a price premium over the diesel, which in turn sees the theoretical margin between the Lexus and Toyota off-roaders expand from about $15,000 to close to $20,000, allowing for any market-specific spec variations.

Directly converting the GX’s American starting price from USD to AUD translates to an opening figure of $96,350, while a hypothetical $US54,250 starting point for the Prado translates to $81,365 Down Under.

This is of course not considering the cheaper diesel powertrain destined for Australia, but it’s clear the new Prado will be pricier than the aged model it replaces ($62,830-$87,468).

However, the long-awaited 2024 Prado is likely to remain in the mainstream (sub-$70,000) large SUV segment rather than compete head-on with luxury models like the Land Rover Defender and Volkswagen Touareg.

And Toyota Australia will be keen for the Prado to remain the best-selling large SUV in the county, and to prevent cross-shopping with the similarly-sized – but V6 diesel-powered – LandCruiser 300 Series, which starts at $94,301.

A starting price of closer to $70,000 for the new Prado would also free up room for the next-generation Toyota Fortuner to polish up, spread its wings and take over as Toyota’s more direct rival for the Isuzu MU-X, Ford Everest and Mitsubishi Pajero Sport without cannibalising Prado sales.

The 2024 Lexus GX is still slated for launch Down Under in the first half of next year, whereas the new-generation 2024 Toyota Prado on which it’s based has been delayed until the second half.

Join the conversation at 

our Facebook page

Or email us at 

editor@carsales.com.au