2014 Lexus IS Priced From $36,845

Lexus just announced the price for its third-generation IS sport sedan, which will start at $36,845 including delivery.

That price applies to the base rear-wheel drive IS 250 equipped with the 2.5-liter V6. As you might remember from AutoGuide’s review, Lexus left the same engines under the hood as its previous generation. That, of course, means a 2.5- and 3.5-liter V6 making 204 hp and 185 lb-ft of torque for the smaller and 306 hp and 277 lb-ft for the more potent version.

Opting for that car will cost $40,360, which is actually 2.1 percent cheaper than the previous IS 350 model. Once again, that price applies to the base rear-wheel drive version, although customers will likely want to upgrade to the F-Sport package with that car.

Doing so will cost $3,620, but of the available option packages – four in total – this is likely the most valuable. That’s because it does more than offer special cabin materials, wheels and a meaner front fascia. Customers also get the same eight-speed automatic transmission used in the much heartier IS-F — although the 350 F-Sport rear-wheel drive is the only version offered with that equipment.

2014 Lexus IS Review

Lexus didn’t announce pricing earlier this year when it invited members of the media out to drive the car during an even that involved both street and track testing.

If the fancier transmission isn’t a meaningful option to you, there’s always the more weather-capable IS 350 with all-wheel drive. It starts at $42,595, but equipping it with the “luxury” package will bring that number to $45,820.

Lexus said it added $1,400 worth of equipment to the car this year that cost extra last year. Standard features for this year include HID headlights, dual-zone climate control, a color 4.2-inch TFT multi-information display and more. Also of note, Lexus is offering subscription-free traffic updates with the 2014 IS through HD radio.

It’s also worth noting that upgrading to the F-Sport package (available on every version of the car, starting at $2,675) gives you the LFA-inspired gauge cluster that slides over, revealing a larger TFT display.

Available extra cost options include navigation for just over $2,000, or $3,225 for navigation with and upgraded sound system. Surprisingly, a backup monitor isn’t standard and costs $350.

Aside from navigation and an improved stereo, there aren’t many options listed. But there is one item worth checking off: the variable gear ratio steering (VGRS), which only costs $400 and will make the car feel more luxurious and sporty by being able to stiffen how the wheel feels in your hands.

Lexus hasn’t announced a specific date for the new IS to reach dealers, but reaffirmed today that it will begin delivery this summer.