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Nothing changed with the engine or it's actual power output. The original horsepower rating was a bit optimistic. Same engine, same horsepower, more realistic horsepower rating. That's the only difference.
the real question is why did lexus cut back on horse[power from the 98-00 to the 01-06 models ,,,you would think its common sense to give the LS a good HP boost for the new model ,,but no It didn't
the engine size even got bigger,,but the HP somehow stayed the same ,,anyways , I love my LS im not copmplaining
HP is not be all and end all..torque is more important and LS has plenty. Do you think trucks pulling containers have thousands of hp? No, they have high hundreds but thousands of torque.
The dealer and some others will claim that the regulatory people changed the way horsepower and torque were determined. However, that is not true.
Ford faced a lawsuit and suffered damages over horsepower claims on some of their vehicles. People were unhappy and asked the regulatory people to investigate. Turns out other manufacturers were making untruthful horsepower claims to. Toyota was one of them and needed to change their advertising.
The good thing is that now they need to be accurate. The motors today actually produce more power than claimed because the manufacturers need a cushion. I guess the law suits were expensive.