While the introduction of the first all-new LS model in six years is a significant event in itself, there are two unique developments that make this new-generation flagship particularly noteworthy.

For starters, 2007 marks the first time the LS will be offered in both regular (LS 460) and long-wheelbase (LS 460 L) body styles. This two-model approach is designed to allow Lexus to expand its share of the market by appealing to so-called “prestige-luxury” buyers who’d prefer to let their driver contend with the messy realities of rush hour traffic as they attend to business or pleasure in the coddling confines of their expansive back seat. The second major development comes next spring as the automaker introduces the world’s first full-size hybrid luxury sedan. Despite its unwieldy mouthful of a name, the LS 600h L will offer a gasoline-electric hybrid all-wheel-drive powertrain tuned to provide a significant boost in performance along with a number of cutting-edge amenities.

As you might expect, the standard features list for the Lexus LS 460 is extensive and includes goodies like xenon headlights, leather upholstery and genuine wood trim, and a keyless starting system that allows you to unlock the doors, start the engine, and drive away without ever removing the key from your pocket or purse. Following the company’s long-established pattern, there are no pre-packaged trim levels here, just an a la carte menu of options that includes such exotic items as heated and cooled front and rear power-adjustable seats, infrared body temperature sensors, power door and trunk closers, and an impressive 19-speaker, 450-watt Mark Levinson surround sound audio system.

We’d love to share pricing with you, so you can see if this new Lexus is going to be a bargain or not, but they were not set at this writing.