Today gasoline engines for vehicular application are not only faced with stringent emission regulation but also with increasing requirements to better fuel economy, while guaranteeing power density. The spray-guided type gasoline direct injection (GDI) engine has an advantage of improved thermal efficiency and lower harmful emissions. Centrally mounted high pressure injector and adjacent spark plug allow stable lean combustion due to the flexible mixture stratification. In the present study, the performance and emissions characteristics of developed spray-guided type GDI combustion system were evaluated at various excess air ratio conditions. The specific fuel consumption and nitrogen oxides ($NO_x$) emissions were reduced due to the achievement of stable lean combustion under flammability limit. Multiple injection strategy was not helpful to improve fuel consumption while further reduction of $NO_x$ emissions was possible.