The Lexus IS is a rear-wheel drive, compact luxury sports sedan manufactured by the Toyota Motor Corp. under the Lexus brand and originally sold as the Toyota Altezza in Japan. The model was introduced to slot below the ES in the Lexus lineup and to compete against the BMW 3 Series and the Nissan Skyline/Infiniti G. The first-generation Altezza (codename XE10) was launched in Japan in October 1998, while the Lexus IS 200 made its debut in Europe in 1999 and the IS 300 in North America in 2001.
The "IS" stands for "Intelligent Sport." (edit this text)