Introduced at the 2006 North American International Auto Show, the redesigned 2007 LS is the first Lexus model offered in both standard and long wheelbase versions. The LS 460 (USF40) uses the standard 116.9 in. (2969 mm) wheelbase, while the LS 460 L (USF41) features a stretched 121.7 in. (3091 mm) wheelbase. Based on the LF-Sh concept vehicle and using an all-new platform, the LS 460 and LS 460 L feature a brand-new 4.6 L 1UR-FSE V8 producing 380 hp (283 kW) and 367 ft·lbf (498 N•m) of torque. The new LS also contains the world's first eight-speed automatic transmission.[5] The car's complex electronic and safety systems were shown in further detail at the Geneva Motor Show in February 2006, while an all-wheel drive hybrid version, the LS 600h L, made its debut at the New York Auto Show in April 2006. A standard wheelbase hybrid model, the LS 600h, will be available in Japan and Europe, and all-wheel drive versions of the non-hybrid LS 460 are also expected.[31] Lexus refers to the multiple variants of the 2007 LS design as the new LS Series.[32]

The fourth generation Lexus flagship is the first to receive the styling cues of Lexus' new design direction, L-finesse. Hallmarks of this design include sweeping lines, a grille set slightly below the level of the headlamps, and a sleek overall profile. Additional details of the design include adaptive headlamps inspired by Baccarat crystal,[33] chrome exhaust vents integrated into the rear bumper, and "L"/"S" curve shapes.

According to Lexus, standards of craftsmanship were raised to higher levels for their new flagship. A more lustrous paint finish involves wet-sanding of the entire body twice by hand,[33] a rare treatment for production vehicles. The leather on the seats and steering wheel are buffed six times longer than previously for a smoother feel.[33] Upgraded materials (such as a headliner made out of ecsaine, a suede-like material used by couturier Yves Saint-Laurent)[34] are offered for the cabin interior.

High-tech options on the new Lexus LS include a 19-speaker Mark Levinson Reference Surround Sound System, sonar-based Lexus Intuitive Park Assist, Gracenote, and a 30 GB HDD with room for 2,000 songs.[6] The fifth generation HDD-based Lexus navigation system features XM NavTraffic, a real-time traffic monitoring system with dynamic rerouting (in the U.S., and similar systems elsewhere). Keyless SmartAccess with push-button start, Optitron instrument panel with TFT multi-information display, auxiliary mp3 player input, and a 5-position tire pressure monitor are standard equipment.[6]

One notable technological feature is the Advanced Parking Guidance System, which can parallel-park or reverse-park the LS into a preselected space with minimal brake input at the push of a button.[35] This intelligent parking feature is claimed to be the first ever applied in a luxury car,[36] and represents an expansion of vehicle automation. Other drive-assist features include Dynamic Radar Cruise Control, which can accelerate and brake while monitoring traffic, a Brake Hold button, which prevents creeping forward motion when the driver's foot is off the brake pedal, and the Automatic Parking Brake, which can engage the parking brake simultaneously whenever the transmission is shifted to Park.[6]

Comfort and convenience features range from a 16-way adjustable heated and cooled driver seat to a rear cabin with power reclining memory seats, a cool box, and five powered sunshades.[6] Certain versions of the LS can be equipped with climate control features such as first automobile ceiling air diffusers, air purifiers, air ionisers, and four-zone climate control with infrared body temperature sensors.[6][37] A special-order "Executive Class Four-Seat Package" on the LS 460 L includes a rear seat DVD entertainment system with ceiling fold-down LCD screen, fixed center console with a swivel tray table, and a passenger-side shiatsu and shoulder massaging ottoman seat.[6] A 24-hour concierge/emergency aid service, Lexus Link, is offered in North America, with the analogous G-Link system offered in Japan. Japanese market LS sedans also feature MiniDisc compatibility, television reception, onboard security surveillance cameras, and remote cellphone access.[38]

Safety features on the latest LS include multiple airbags, standard stability/traction control systems (with disable button),[39] anti-lock brakes, and additional emergency assist features. Newly developed advanced safety features (see below) making their world premiere on the LS 460 and LS 460 L include the Driver Monitoring System and the front and rear pre-crash capabilities of the Lexus Pre-Collision System. These systems include facial recognition, infrared night vision, and pedestrian detection faculties.