Price & Power: The Redesigned Lexus GX Is A Different Beast

Also, check out our quick GX 550 YouTube video.

When Lexus first introduced the GX 470 in 2002, the mid-size luxury SUV didn’t take long to build its reputation as a proper off-road, adventure-seeking warrior. Built on the same platform as the Toyota Land Cruiser Prado overseas, the V8-powered hauler with full-time, four-wheel drive hit the sweet spot between the compact RX and full-size LX SUVs.

Now, the formidable off-roader enters its next generation for 2024 as the GX 550, a completely new beast boasting a 3.4L twin-turbo V6 engine capable of towing up to 8,000 pounds, an upgraded interior featuring advanced technology, and the rugged GX 550 Overtrail grade for hardcore off-the-beaten-path enthusiasts. Despite losing the 4.7L V8, the next-gen GX 550 continues the legacy of tackling rough terrain with its proven capabilities.

Release Date: The 2024 GX 550 will go on sale sometime early 2024. It will be assembled in Japan, out of the company’s Tahara plant. 

A Reasonable Price Under Six Figures

With six GX 550 trims on tap, the entry-level GX 550 Premium costs $64,250, including the main fees and destination charges. Frankly, we were expecting this to be much higher, and compared to the Lexus LX, the GX 550 doesn’t hit the six-figure mark in the US. The most expensive is the GX 550 Luxury+, at $81,250. However, in Canada, the new SUV starts at $86,826 and heads north to $109,176 for the range-topper. Complete US and Canada 2024 GX 550 pricing below:

Increased Horsepower and Torque Despite Losing a Pair of Cylinders

Gone is the outgoing 2023 GX 460’s 4.6L V8, which made 301 hp and 329 lb.-ft. of torque. The new GX 550 gets a competent and efficient twin-turbocharged 3.4L V6 engine with a 10-speed Direct-Shift Automatic Transmission. Full-time AWD comes standard, and further enhancements on the electronic transfer case mean switching into 4hi is faster. 

Sure, the new engine drops a couple of cylinders, but it delivers significantly more power than the previous generation V8, now rated at 349 horsepower and 479 lb.-ft. of torque. Considering smaller SUVs these days are making well over 300 horsepower, like the new mid-size Toyota Grand Highlander with 362 horsepower, the GX’s 301 horses needed a boost. Lexus will offer a hybrid-powered GX down the road, and our guess is it will be even more powerful than this new V6 (but with less towing capacity). Here’s a look at each engine, the old V8 and new V6:

Towing capacity improvements

Towing capacity increases to 8,000 pounds compared to 6,500 pounds with the 2023 GX. However, this only applies to the Premium and Overtrail trims (Signature, Premium, and Overtrail in Canada). The top GX trims — Luxury and Luxury+ (Luxury and Executive in Canada) — find towing capacities below 7,000 pounds: 6,990 pounds and 6,780 pounds, respectively.

New: The Rugged Lexus GX Overtrail and Overtrail+

The new 2024 GX 550 Overtrail and Overtrail+ trims are for those serious about hitting the unpaved terrain. We first saw this beast in concept form at the Tokyo Outdoor Show. With smaller, burlier 18-inch wheels wrapped in standard 33-inch All-Terrain tires and a variety of distinct GX bi-tone exterior paint combinations in line with more natural tones, the two Overtrail trims exclusively feature an electronic locking rear differential as standard for improved traction and control.

Ramping it up further, this one also gets black-accented overfenders for style and function and a standard aluminum skid plate to protect the GX’s fuel tank, differentials, and transfer box when hitting rough terrain. The same V6 twin-turbo powers it and retains the AWD and the maximum 8,000-pound towing capacity to haul those weekend toys to the cabin. Here’s our complete 2024 Lexus GX 550 Overtrail First Drive Review.

Lexus GX 550 Interior: For a closer look inside, we cover everything here – New 2024 GX 550 Interior Design: Lexus Wasted No Time.

2024 Lexus GX 550 Specs: