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2024 BMW M3 Competition vs 2023 Lexus IS500 F Sport

Published April 2026
2024 BMW M3 Competition vs 2023 Lexus IS500 F Sport
2024 BMW M3 Competition vs 2023 Lexus IS500 F Sport
2024 BMW M3 Competition vs 2023 Lexus IS500 F Sport Close

A Comprehensive Car Comparison by MCT Motorsport

For Australian buyers searching for a premium performance sedan, the 2024 BMW M3 Competition and 2023 Lexus IS500 F Sport offer two very different ownership experiences. Both deliver strong straight-line pace, four-door practicality and luxury appointments, but they take contrasting approaches to performance. The BMW is a modern turbocharged powerhouse engineered for maximum speed, sharp handling and everyday usability. The Lexus is a more traditional sports sedan, pairing a naturally aspirated V8 with rear-wheel drive and a focus on character. If you are deciding between German precision and Japanese V8 emotion, this comparison breaks down the key differences.

Performance & Driving Experience

BMW M3 Competition

9.7/10

  • The BMW M3 Competition is one of the benchmark sports sedans in Australia. Its twin-turbocharged six-cylinder engine delivers enormous mid-range torque, making overtaking effortless and acceleration immediate. Combined with BMW’s xDrive all-wheel-drive system, it launches hard in almost any weather condition and feels planted at speed.
  • Through corners, the M3 is highly responsive with sharp steering, excellent body control and serious grip. Adjustable drive modes also allow owners to tailor the suspension, throttle and drivetrain settings depending on whether the car is commuting or being driven enthusiastically on a weekend road.

Lexus IS500 F Sport

8.8/10

  • The Lexus IS500 takes a more old-school approach. It may not match the BMW’s outright pace, but the naturally aspirated V8 provides instant throttle response and smooth power delivery right through the rev range. There is no turbo lag, just linear acceleration and a strong surge as revs build.
  • Its rear-wheel-drive layout gives the Lexus a more playful and traditional sports sedan character. Steering is predictable, chassis balance is enjoyable and it feels more relaxed than the BMW during normal driving.

Engine Sound & Character

BMW M3 Competition

8.4/10

  • BMW’s turbocharged inline-six is a highly effective engine. It produces immense performance and a purposeful soundtrack, especially under load. There is a strong mechanical edge to the sound, and it suits the M3’s aggressive personality.
  • However, like many modern turbocharged performance engines, it is more about speed than emotion. Some buyers may appreciate the efficiency and performance, while others may want a more memorable soundtrack.

Lexus IS500 F Sport

9.8/10

  • This is where the Lexus truly stands apart. Its 5.0-litre naturally aspirated V8 is increasingly rare in today’s market and gives the IS500 a unique appeal. It idles with a rich burble, builds into a deep growl and rewards drivers who use the upper rev range.
  • The combination of natural throttle response and genuine V8 sound creates an experience many modern turbo cars struggle to replicate. For enthusiasts, this alone can justify choosing the Lexus.

Interior & Comfort

BMW M3 Competition

9.4/10

  • Inside, the M3 Competition feels modern and premium. The large curved digital display dominates the dashboard, while sports seats and M-specific trim details reinforce its performance credentials. Material quality is strong, and the layout feels contemporary and driver-focused.
  • Despite its sporting intent, the M3 remains practical. Rear-seat room is usable for adults, the boot is generous for the segment and ride comfort is surprisingly acceptable in softer drive modes.

Lexus IS500 F Sport

8.7/10

  • The Lexus cabin focuses on craftsmanship and long-term comfort. Build quality is excellent, switchgear feels durable and the seating position is supportive. Front seats are particularly comfortable for longer drives.
  • Where it trails the BMW is in presentation. The dashboard design and infotainment system feel older, and the overall layout lacks the wow factor of newer European rivals. Still, the Lexus remains a pleasant and refined place to spend time.

Technology & Safety

BMW M3 Competition

9.5/10

  • BMW delivers a strong technology package with modern graphics, fast infotainment responses and quality connectivity features. Wireless Apple CarPlay, Android Auto, navigation and customisable digital displays all contribute to a premium ownership experience.
  • Safety technology is also comprehensive, with features such as adaptive cruise control, lane assistance systems and parking aids available depending on specification.

Lexus IS500 F Sport

8.5/10

  • The Lexus includes the essentials buyers expect in this segment, including smartphone connectivity, active safety systems and quality audio options depending on model grade. Lexus Safety System+ adds useful driver assistance technologies for daily use.
  • Its weakness is presentation and usability. While functional, the infotainment setup does not feel as advanced or intuitive as the BMW’s system.

Running Costs & Ownership

BMW M3 Competition

7.9/10

  • The M3 Competition is a premium performance car, and ownership costs reflect that. Servicing, tyres, brakes and insurance can all be expensive, especially for drivers using the car enthusiastically. European prestige maintenance costs should be factored into budgeting.
  • That said, BMW has strong brand appeal in Australia, and M cars often maintain solid resale interest when well maintained.

Lexus IS500 F Sport

9.3/10

  • Lexus has built a reputation for dependability, customer service and low ownership stress. The IS500 benefits from that reputation, making it appealing for buyers planning long-term ownership.
  • While fuel use may be higher than the BMW in some conditions, the simpler naturally aspirated drivetrain and Lexus reliability image can reduce long-term anxiety and unexpected costs.

Design & Road Presence

BMW M3 Competition

9.0/10

  • The M3 Competition looks bold and unmistakably performance-focused. Wide guards, aggressive bumpers, quad exhaust outlets and large grille styling ensure it gets attention. It looks fast even when parked.
  • For some buyers, the assertive styling is a major drawcard. Others may find it too extroverted.

Lexus IS500 F Sport

8.9/10

  • The Lexus offers a more understated type of road presence. It still looks muscular and premium, but it avoids shouting about its performance credentials. The spindle grille, subtle boot spoiler and quad-stacked exhaust styling give it enough attitude without excess.
  • It suits buyers who prefer discreet performance.

Value for Money

BMW M3 Competition

8.4/10

  • The BMW commands a significantly higher purchase price, but it also offers genuine supercar-level acceleration, advanced technology and everyday practicality. For buyers wanting one car to do everything, the M3 makes a compelling case.
  • It is expensive, but its breadth of capability is hard to ignore.

Lexus IS500 F Sport

9.1/10

  • The Lexus undercuts the BMW while offering a rare naturally aspirated V8, luxury appointments and likely stronger long-term ownership confidence. In a market moving away from V8 engines, that exclusivity adds value.
  • For enthusiasts who care about feel and character, the IS500 represents excellent buying appeal.

Our Verdict

BMW M3 8.9/10
IS500 F Sport 9/10

Two Excellent Sedans With Different Priorities

The 2024 BMW M3 Competition is the more complete modern performance sedan. It is faster, more advanced and remarkably capable in all conditions.

The 2023 Lexus IS500 F Sport wins with personality. Its V8 soundtrack, rear-drive feel and dependable ownership reputation make it one of the most appealing enthusiast sedans available.

If you want the sharper all-rounder, choose the BMW. If you want something that feels special every time you drive it, the Lexus is difficult to beat.

Looking for a prestige performance car in Australia? Explore the latest BMW M3, Lexus IS and other high-performance vehicles available now at MCT Motorsport.

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