2026 Lexus RZ price slashed by $42,000 in major repositioning
The 2026 Lexus RZ range starts at $84,500 and includes a new 550e F Sport with Australia's first production yoke steering wheel and 300kW output.
Rob Leigh
Key takeaways
- 2026 Lexus RZ priced from $84,500, up to $42,000 cheaper
- New 550e F Sport adds yoke steering and 300kW output
- Larger 74.7kWh battery lifts WLTP range to 460km
Lexus Australia has slashed prices across its updated 2026 Lexus RZ electric SUV range by up to $42,000, while adding a new 550e F Sport variant fitted with Australia's first production yoke steering wheel. The carryover Luxury and Sports Luxury grades also gain a larger battery, more power and quicker charging, with the entire lineup on sale now.
2026 Lexus RZ pricing
| Variant | Price (before on-road costs) |
| RZ 500e Luxury | $84,500 |
| RZ 500e Sports Luxury | $91,000 |
| RZ 550e F Sport | $105,000 |
The 500e Luxury opens the range at $84,500 before on-road costs, down $36,559 on the outgoing model. The Sports Luxury sits at $91,000, a $42,059 saving, while the new 550e F Sport tops the range at $105,000.
All three variants now sit below the Luxury Car Tax threshold for zero-emission vehicles, making them eligible for the Fringe Benefits Tax exemption on novated leases.
F Sport debuts with yoke steering
RZ550e F Sport
The 550e F Sport produces 300kW from a 77kWh battery and introduces a steer-by-wire system controlled by a yoke-style wheel. It is the first production car sold in Australia to ditch a traditional round steering wheel.
The yoke requires roughly 200 degrees of movement from centre to full lock, eliminating hand-over-hand turning. Paddle shifters drive a Lexus-first Interactive Manual Drive mode, which simulates eight gears with matching engine sounds, throttle response and tacho display, similar to the Hyundai Ioniq 5 N.
Bigger battery and longer range
The carryover 500e Luxury and Sports Luxury grades step up to a 74.7kWh battery, lifting WLTP range by 16% to 460km. Combined output from the dual-motor all-wheel-drive system climbs more than 20% to 280kW.
AC charging capacity doubles to 22kW, enabling a full home wallbox charge in 3.5 hours, while DC fast charging is rated at 150kW through a CCS2 port. A new battery cooling system manages the larger pack. Lexus has also added body bracing, revised spring and damper rates and improved sound insulation across the range.
RZ 500e
The price repositioning lands the 2026 Lexus RZ below several incoming premium electric SUVs. The Volvo EX60 starts at $86,990, the BMW iX3 at $109,900 and the Audi Q6 e-tron at $99,900. Cheaper rivals include the Tesla Model Y and Zeekr 7X both currently dominating the premium family SUV segment.
A limited-run RZ600e F Sport Performance is due later this year in "extremely limited" numbers with pricing yet to be announced.
Frequently asked questions
How much is the 2026 Lexus RZ in Australia?
The 2026 Lexus RZ starts at $84,500 before on-road costs for the 500e Luxury, with the Sports Luxury at $91,000 and the 550e F Sport at $105,000.
What is the driving range of the 2026 Lexus RZ?
The 2026 Lexus RZ 500e Luxury and Sports Luxury deliver up to 460km of WLTP driving range, a 16 per cent improvement on the previous model.
Is the 2026 Lexus RZ eligible for the FBT exemption?
Yes. All three 2026 Lexus RZ variants sit below the Luxury Car Tax threshold for zero-emission vehicles, making them eligible for the Fringe Benefits Tax exemption on novated leases.
Rob Leigh
Co-founder & Director
Rob Leigh is Co-founder and Director of The Beep based in Melbourne, Australia. He has 15+ years inside a major automotive OEM, specialising in product planning, pricing and vehicle strategy.
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