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Earlier this month we discovered that the Lexus IS was not being discontinued like its big brother, the Lexus GS.

Instead, it'll be heavily updated for 2021 but its overall bones will remain. Best of all, it's expected to receive the also soon to be discontinued naturally aspirated 5.0-liter V8. That information came to us from a Japanese language source but now it's being reconfirmed by AllCarNews on Instagram.

But there's more: while the V8-powered IS appears to be a done deal, it won't be called the IS F as many had hoped. Lexus has decided to go with the name IS 500 despite the car coming equipped with the F-Sport appearance package. And yes, this will very likely be the last application of this V8 before it's permanently retired. Our previous report on this subject also claimed the IS 500 will be for the North American market only. Sorry, Japan. This time America gets to have all of the fun.

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Lexus Dumps The  IS-F Moniker - Long Live The NEW IS 500

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