Toyota Alphard
Launched
RM548,000
Overview
The Lexus LM is an executive MPV based around the Alphard/Vellfire formula, but sold as Lexus’ luxury people-mover in Malaysia. Launched here in 2024, the AW10 generation suits buyers who want either a seven-seat hybrid family shuttle or a four-seat chauffeured cabin. Prices start from RM 1,228,000.
LM in 2026 — what's new
For 2026, the Malaysian Lexus LM carries on unchanged, with the same two-variant line-up introduced in 2024: LM350h and LM500h. The latest LM news is a Japan update in 2025 that brings better NVH and moves the rear door switches on the four-seat Executive variant, but no Malaysia-specific 2026 revision has been announced.
Variants (2)
RM1,228,000–RM1,468,000 · est. from RM12,535/mo
Which variant to buy
Most buyers should start with the LM350h at RM 1,228,000. It gets seven seats, a 2,494 cc petrol hybrid system with 188 hp and an eCVT automatic, so it is the sensible pick if the LM is doing family and airport work. The LM500h costs RM 1,468,000; the RM 240,000 gap buys a four-seat layout, a 2,393 cc petrol hybrid system with 268 hp and a conventional automatic.
Key specs
- Horsepower
- 188 hp
- Motor Horsepower
- 180 hp
- Torque
- 236 Nm
- Motor Torque
- 270 Nm
- Capacity
- 2,494 cc
- Transmission
- eCVT Automatic
- Driveline
- Front Wheel Drive
- Seats
- 7
- Boot Space
- 110 litres
- Airbags
- Driver and Passenger, Driver Knee, Front Side, Front and Rear Curtain
Key specs
- Horsepower
- 268 hp
- Motor Horsepower
- 188 hp
- Torque
- 460 Nm
- Motor Torque
- 461 Nm
- Capacity
- 2,393 cc
- Transmission
- Conventional Automatic
- Driveline
- All Wheel Drive
- Seats
- 4
- Boot Space
- 110 litres
- Airbags
- Driver and Passenger, Driver Knee, Front Side, Front and Rear Curtain
Colours
across the range — availability varies by variant
- Graphite Black Gloss Flake Metallic
- Sonic Agate Metallic
- Sonic Quartz Metallic
- Sonic Titanium Metallic
Verdict
The LM is a very expensive executive MPV, plainly sitting above its same-class rivals on price: the wider segment runs from RM 269,800 to RM 548,000, while the Lexus starts beyond RM 1.2 million. The appeal is narrow but clear: a Lexus-badged luxury MPV with hybrid power and either seven seats or a four-seat flagship cabin. If you mainly need seats and space, the price gap is hard to ignore.
Used cars for sale
Buying a new LM? Sell your old car, get paid in 24 hours
Lexus LM sales in Malaysia
83 registered so far in 2026 — Malaysia's #154 best-selling model this year.
Full LM sales data, month by month →Lexus LM resale value
What a used LM holds of its price, by registration year: the trade-guide value insurers and dealers reference, and the price the market typically asks.
Lexus LM
Market average
| Year | Trade guide | Typical asking | Holds |
|---|---|---|---|
| 2026 | RM1,353,000 | — | 100% |
| 2025 | RM1,011,200 | — | 82% |
| 2024 | RM833,100 | — | 68% |
| 2023 | RM756,200 | — | 63% |
| 2022 | RM680,000 | — | 59% |
| 2021 | RM605,400 | — | 53% |
Trade-guide and market listing data, West Malaysia. Actual prices vary with condition, mileage and variant; "holds" compares against that year's new price.
Generations
Rivals to consider
same class, similar money
Lexus LM FAQ
How much is the Lexus LM in Malaysia?
The Lexus LM is priced from RM 1,228,000 for the LM350h to RM 1,468,000 for the LM500h in Malaysia.
Which Lexus LM variant should I buy?
Buy the LM350h if you need seven seats. Pick the LM500h only if the four-seat layout matters more than passenger count and you want its 268 hp, 2,393 cc petrol hybrid powertrain.
How many seats does the Lexus LM have?
The Lexus LM350h has seven seats. The Lexus LM500h has four seats, aimed at a more chauffeured, rear-cabin-focused brief.
Is the Lexus LM more expensive than the Toyota Alphard?
Yes. The Lexus LM costs RM 1,228,000 to RM 1,468,000, while the Toyota Alphard starts from RM 548,000 and the Toyota Vellfire from RM 448,000.
