The 2024 Lexus GX 550 carries a pretty substantial premium, for all its updates.
Lexus’ first major overhaul of the GX SUV in more than a decade drew a ton of hype. Hundreds of thousands of you checked out our debut video earlier this summer, but with such major change we’ve been waiting for the other shoe to drop: How much will this new model cost? Now we know, as Lexus prepares to ship all trims of its 2024 GX 550 to dealerships in early 2024. For this upcoming model year, the third-generation GX will start off at $64,250 for the base Premium model, or $4,025 more than the equivalent 2023 version.
Of course, you’d expect a new vehicle to cost more than its predecessor, though you’ll have to decide whether the price hike is totally reasonable or a bit of a gut-punch. For that extra cash, you do get a brand-new powertrain: A 3.4-liter twin-turbocharged V6 engine replaces the old-school 4.6-liter V8, and puts out 349 horsepower and 479 lb-ft of torque. Not only do you get some extra grunt, but the 2024 Lexus GX also tows up to 8,000 pounds, depending on which trim you buy. That’s a substantial increase for a midsize SUV. On the flip side, though, Lexus says fuel economy comes in at 17 mpg combined, despite the turbocharged powertrain and 10-speed automatic transmission.
As before, the GX still offers both Premium and Luxury trims, each with “Plus” versions bringing some extra features to the mix. The real headline with the 2024 model, though, is the “Overtrail” trim, which leans into the SUV’s off-road capability. With the Overtrail, you get 33-inch all-terrain tires on bespoke 18-inch wheels, a locking rear differential, aluminum skid plates and black fender accents and cladding. This model also gets Toyota’s Kinetic Dynamic Suspension System (KDSS) as standard fare, as well as a 3D terrain monitor and off-road-specific drive modes.
Here’s the full trim walk
While there’s a $17,000 price delta between the base MSRP for the Premium and the highest-end Luxury+, you can get the Overtrail for just under $70,000 to start. So, while it’s the trim a lot of enthusiasts want, they won’t necessarily have to brace for a bill over $80,000…at least until they start with the modifications.
This is the full price spectrum, by trim:
- GX 550 Premium: $64,250
- Premium+: $69,250
- Overtrail: $69,250
- Overtrail+: $77,250
- Luxury: $77,250
- Luxury+: $81,250
Again, we should see the first examples hit dealers right on the other side of the new year, in the next several weeks.
