I have Lexus RX300 from year 2000 and have 160 K miles on it.
Recently got ABS light. I read through some threads online and on Lexus Forum.
My speedometer was reading good indicating speed sensor on transmission was okay. All ABS sensors on 4 sides of vehicles were a suspect. Autozone read the code for me and was P0500. I also was receiving the code of 032 implying that the issue was on left wheel on rear. I was leaning towards sensor replacement but luckily chose to take the car in for a free diagnostics in the area to a mechanic. Car was hoisted and the mechanic confirmed that the tone ring on left rear axle was not rotating when axle was turned with hands implying that it was broken. This was via visual inspection. A common problem on this year and model of Lexus. Dealer recommends replacing entire axle shaft assembly for a whopping invoice of $1400. I researched the web. Reluctorrings.com has all reluctor rings also known as tone rings for every car make. Some ebay businesses also offer tone rings.
I ordered one for about $25. It comes in 3 pieces; tone ring (geared ring) and 2 cover rings. Lexus' design is good and prevents sensor from damaging when tone ring breaks. Knowing exactly what was needed, I called several garage shops and requested only labor to install tone ring. Certified labor hours to get the axle out and reinstall is about 1.5 hours, add another .5 hours for heating the tone ring for fitting , total 2 hours should see you with task complete - by the mechanic. Got quotes from $350 to $130. Entire process is posted on Youtube and on reluctorrings.com
Issue is fixed and the car runs very good.

 

I do not think so