Toyota may be facing some quality issues right now, but that didn’t stop its Lexus division to reportedly push forward with a BMW M5 competitor of its own, as well as a replacement for its aging SC hardtop convertible. Both models should be on the market by mid-decade.

Internet rumors involving Lexus’ impending GS-F high-performance sedan have been swirling for years now, but the luxury division appears though that it is finally moving forward with the super saloon.

If the latest reports are indeed true, the GS-F will finally hit the market in 2013. The GS-F will use a version of the LFA’s 4.8L V10, although slightly tweaked to make the vehicle street-legal. Displacement will shrink to 4.6L with power topping out at 450 horsepower.

The GS-F will also feature upgraded brakes and a revised suspension, as well as a new electronic differential to help in traction and handling. The system will be able to split power between each rear wheel, resulting in better cornering.

Lexus will then finally release an updated version of its SC hardtop convertible a year later its GS-F release. The current version of the SC has remained on the market relatively untouched since 2002 and is scheduled to stop production by year’s end.

Much of the SC’s details remain unknown, but expect for the coupe to feature a hybrid drivetrain, using a 5.0L V8 engine. The SC will also borrow the GS-F’s electronic differential. The next SC is expected to compete with Mercedes-Benz’ SL.