The 4th Generation of the Toyota Soarer was introduced for 2001 with the code name Z40. It represented a radical change from a closed coupe to a sleek convertible with a retractable hardtop, based on the Lexus SC430 platform. It retained rear-wheel drive and was offered exclusively with a 5 speed automatic transmission, powered by the 4.3L 3UZ-FE V8 engine. Unlike previous generations, there were no longer multiple engine versions, but rather a single luxury-focused configuration. It stood out for its high level of equipment, adaptive variable suspension, leather and wood interior. It was a premium grand tourer focused more on comfort than performance, marking the end of the Soarer model in 2005.