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A LS generation usually lasts 6 years. So expect the 5th gen to hit the market in 2013.
What will it be called? Well, I've always thought that a car's name is associated with the engine's size (400 1st gen, 400 2nd gen, 430 3rd gen and 460 4th gen). So make your best guess as what the engine's size would be =).
But again BMW seems to have dropped this tradition as I noticed their latest models' names don't represent the engine's size. I could be wrong, but if that's the case then LS might also follow BMW's steps.
The name designation will be anyone's guess when the next generation comes out. I've read in a magazine that Mercedes will offer only hybrids in their next S-class. With hybrids, the numbering system no longer corresponds to engine size, i.e. LS 600h. Car companies are all downsizing their engines in an effort to meet new European and U.S. CAFE manufacturer standards.
Yeah this is all anyone's guess at this point, but as members have stated above, with a 6-year design cycle, I wouldn't imagine seeing the 5LS until 2012 as a 2013 model. I'd still expect to see a V8 and hybrid powered LS, but with BMW and Audi adding a 6 cylinder model to their flagship line-ups, I wouldn't be surprised to see a DI 3.5L V6 (or new V6) in the LS's engine bay in the future
I know on an Infiniti forum I visit a few years ago a member there made predictions for the new M56 name because he looked up various names that Nissan had trade marked.