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Edmunds Inside Line is reporting that Lexus is going after Germany's M-, S- and AMG-powered sharpshooters in the sport sedan category with a new eight-gun of its own. The company is preparing to unveil a close-to-production IS concept powered by a 5.0-liter V8 producing 450hp, which could spawn a new IS 500. That engine is an overbored version of the 4.6-liter V8 powerplant of the new LS 460 flagship, which will also debut in Detroit. That alone oughta bring the January temps in Detroit from aught minus to something like the freezing point. Ugh.

Detroit Show: Lexus to Show IS Cabrio/Coupe Concept in Motown [Edmunds]

Lexus Announces Pricing for 2006 IS 250 and IS 350 [internal]