The magazine says the Lexus LQ styling will be inspired by the LF-1 Limitless concept from 2018 (pictured) and will slot between the popular Lexus RX soft-roader and the Lexus LX heavy-duty four-wheel-drive based on the Toyota LandCruiser.
The Lexus LQ is said to be built on the underpinnings of the new Lexus LS limousine for superior refinement and car-like driving characteristics.
It has been speculated the Lexus LQ could share the Lexus S500 sedan's twin-turbo V6 petrol engine (310kW/600Nm) and the V6 petrol hybrid combination (220kW/350Nm).
Car and Driver also reports there could be a performance version of the Lexus LQ – wearing a Lexus 'F' badge – powered by a twin-turbo 4.0-litre V8. It’s possible this unit could be the same twin-turbo V8 Lexus announced in late-2019 for competition use.
Car and Driver predicts the LQ will sell in North America for US$80,000-100,000 ($126,000-157,000 Australian dollars based on current conversion rates).
As a guide, in Australia the Lexus LX570 heavy duty 4WD starts from $143,000 before on-road costs. In the US, the same model starts from US$92,000 (AU$145,000).
This would price the Lexus LQ in competition with the likes of the seven-seater Mercedes-Benz GLS (AU$144,600 before on-road costs).
Lexus Australia declined to comment on the report about the Lexus LQ, and whether or not such a vehicle would be offered locally.