Rumors about a Lexus LC Convertible and LC F have been floating around for awhile but a new report is indicating the models are inching closer to production. The LC Convertible is a "done deal" and will likely be introduced within the next 18 to 24 months. If the reports are correct, the LC would become the company's first convertible since the IS C was phased out several years ago.

When asked about the model, Lexus International president Yoshihiro Sawa declined to confirm the car has been green-lighted but said “I hope that we will have a convertible in the near future" as "we know the luxury market requires a convertible."

Engine options would reportedly carryover from the coupe and include a 5.0-liter V8 with 471 hp and a hybridized 3.5-liter V6 with a combined output of 354 hp. When talk turned to the LC F, Sawa said "It’s not decided yet but in my mind, a high-performance LC is a good opportunity.” The publication's source echoed his statement by saying the model is nearing approval but hasn't been signed off on yet.

The insider also suggested the LC F could be powered by an all-new twin-turbo 4.0-liter V8 engine instead of a more powerful version of the car's 5.0-liter V8 engine. The new engine would reportedly produce around 600 hp and that would give it 129 hp more than the LC 500.