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At the ongoing Australian International Motor Show in Sydney, the same show where Australian sportscar-maker Elfin took the wraps off its new Type 5 Clubman, Lexus unveiled a new version of its IS 250 sports sedan called the Sports Concept.

So what, you ask is the Lexus IS 250 Sports Concept? Think of it as IS F-light, but not quite as light on substance as appearance packages from its German rivals (think Audi S-line or Mercedes AMG sport packages). The show car has been outfitted with 19″ wheels hiding cross-drilled two-piece rotors clamped by six-pot calipers up front and four-pots in the rear, painted trademark Lexus F blue. It also sports Billstein shocks and springs; sway bars and chassis braces; an enlarged air intake and cat-back exhaust; a new clutch and short-shift kit; a carbon fiber engine cover and an assortment of spoilers and skirts.

In short, what we’re looking at is an IS F, only without the 5-liter V8. The revised breathing systems squeeze out a modest 1.5 percent increase in output from the 2.5-liter V6 for a total of about 213hp. The add-ons are currently being considered for the Australian market, but we’re sure there are plenty of fans of the IS F on this side of the globe who don’t need to hit 60 in the fours and wouldn’t mind a more affordable alternative given the current economic climate.

While work is reportedly be done on developing a cabrio version of the Lexus IS and a lighter-weight version of the fire breathing IS-F, the IS 250 and 350 need some attention too. They’re receiving mild updates for the 2009 model year, images of which have found their way onto the web. Though not expected to officially bow until the Paris Motor Show in October, the ‘09 IS will be sporting an ever so slightly revised front end, new side mirrors with turn signal indicators, redesigned taillamps with integrated L-shaped reverse lights and a new wheel design. In true Lexus tradition, the exterior changes are about as minimal as they get and require close comparison with an ‘08 model to appreciate. We can see that the front bumper, lower air intakes and fog lights have been softened, but that’s about it. While we don’t know anything official about mechanical changes, Carscoop reports that a revised electronic stability control system will be part of the ‘09 package.