Toyota has been on a tear of late, releasing several dedicated performance cars over the last decade. Driving enthusiasts are rejoicing as a result. Some might say the brand is in another golden age for its sports cars. Now is the perfect opportunity for Toyota to keep up the momentum and revive a long-lost yet long-beloved sports car: the MR2.
Many consider mid-engine sports cars to be the cream of the crop. From Ferrari and Lamborghini to Porsche and McLaren, the industry’s premier performance brands default to mid-engine layouts for their highest-performing models. But mid-engine sports cars weren’t always reserved for the top-end of the market. Not long ago, a slew of middle-class mid-engine cars offered a taste of the exotic to everyday drivers – and the Toyota MR2 was the king.
Toyota created the MR2 in the mid-1980s as an affordable mid-engine alternative to European exotics. Its angular, future-forward design and balanced handling made it an icon of its era. The MR2 only got better with its second generation, smoothing out the lines and adding a potent turbocharged engine. Toyota finally axed the MR2 in 2005 after moderate success with its third-generation “Spyder” convertible. The third-generation MR2 was a final gasp of fun before Toyota pivoted to an era of relative austerity in its model lineup.
The MR2 was a flashier alternative to the relatively sensible Mazda Miata, and it fought the good fight for two decades. Now, nearly two decades after its cancelation, Toyota has an excellent opportunity to bring the MR2 back. We even managed to give the Toyota MR2 a modern digital makeover thanks to our resident digital artist Rostislav Prokop, and this only got us even more excited about the possibility of a new Toyota sports car.
Toyota’s recent successes in motorsport, renewed interest in sports car manufacturing, and development of new technologies all set the stage perfectly for a return of the mid-engine icon. Here’s what Toyota could do to get the most out of an all-new MR2.
10 Return Of The Affordable Mid-Engine Car
Reviving the MR2 would give Toyota an excellent opportunity to reintroduce affordable mid-engine cars to the market.
Affordable options for mid-engine sports cars are running slim these days. Outside the 718 Cayman and 718 Boxster (which are only affordable compared to the rest of the mid-engine field), it’s slim pickings. There’s a hole in the performance car market for a sub-$50,000 (or preferably sub-$40,000) mid-engine model. And there’s no better brand revival to fill it than the Toyota MR2.
It’s been three decades since reasonably priced mid-engine sports cars like the Pontiac Fiero were commonplace. Nowadays, there are plenty of value-friendly performance vehicles – but most all are front-engine models. A new MR2 could be a major splash in the segment if it’s priced to compete with the likes of the Mazda Miata, Ford Mustang, and Volkswagen Golf GTI, and Subaru WRX.
9 Transplant The Toyota GR Corolla Powertrain
One of the most important elements of a new MR2 would undoubtedly be its power source. Fortunately, Toyota already has a gem of an engine that could make the new MR2 pretty special.
Toyota could re-purpose the turbocharged three-cylinder engine in the GR Corolla for the new MR2.
The 1.6-liter turbocharged three-cylinder engine has made waves among auto enthusiasts with its eager power and playful character. It pumps out 300 horsepower and 273 pound-feet of torque in the GR Corolla – stout numbers for a hot hatchback. Plus, it comes standard with a six-speed manual transmission and rear-biased all-wheel drive.
The GR Corolla engine could be a perfect fit for a new MR2, offering enough power for serious fun without going overboard. For perspective, the base Porsche 718 Cayman makes precisely 300 horsepower and starts just shy of $70,000.
8 A Modern Toyota MR2 With A Manual Transmission
It’s a no-brainer for sports car lovers – any new Toyota MR2 should have a stick-shift option.
Toyota has already shown its commitment to keeping manual transmissions around as long as possible. The brand kept its stick shift option for the redesigned 2024 Tacoma and heeded the calls of customers to bring a manual option to the new Supra. It would follow that reviving a mid-engine sports car would come with an available three-pedal configuration.
A stick-shift option especially makes sense for the MR2 if it uses the GR Corolla’s powerplant. Toyota already developed a six-speed manual transmission for the 1.6-liter turbocharged three-cylinder. Adapting it to a mid-engine configuration would require some adjustments. But Toyota has made crazier engineering decisions in its time.
7 An MR2 Revival Should Be Primarily Rear-Wheel Drive
If Toyota were to pursue the turbo three-cylinder angle for the new MR2, it should still stick with a rear-wheel drive format.
The two models that currently use the 1.6-liter turbo engine – the GR Corolla and GR Yaris – have received heaps of praise for their impressive all-wheel drive systems. Reportedly, the system offers heaps of grip while delivering 60 percent of power to the rear wheels. It’s a balancing act that reflects the GR Yaris’ original intent as a homologated rally car for the street. However, while that all-wheel drive system is surely impressive, it isn’t in the spirit of the MR2 brand.
A primarily rear-wheel drive MR2 would help it stack up better against its chief competition and benchmark: the Mazda MX-5 Miata.
6 Toyota MR2 Plug-In Hybrid
While sports car aficionados tend to like traditional internal combustion engines and manual transmissions, more and more are starting to see the performance benefits of electrification. Indeed, electrifying performance cars seems to be the path forward for staying competitive. Toyota hasn’t developed an electrified sports car yet – but it has a perfect opportunity with the MR2.
Rather than making a fully electric MR2, Toyota could make the job easy for itself and develop a plug-in hybrid variant.
The brand already has an outstanding plug-in powertrain found in the RAV4 Prime. In that application, the PHEV system generates a combined 302 horsepower and offers around 40 miles of EV driving range. Quick torque delivery and plenty of power mean the RAV4 Prime is one of the quickest models in the Toyota lineup, too.
Popping this PHEV powertrain into a small, two-door coupe could yield some impressive performance. Plus, a plug-in MR2 would keep Toyota abreast of the growing field of electrified sports carmakers.
Unfortunately, a PHEV MR2 would likely be restricted to an automatic transmission. It’s a small price to pay for progress.
5 Angular Design Language To Echo Older MR2 Models
Perhaps most importantly, Toyota needs to nail the look if it brings back the MR2 badge.
The first three generations of the MR2 made waves because they looked like smaller versions of premium exotics. From the wedge-shaped first-generation to the aerodynamically elegant second-generation and soft-top third generation MR2 Spyder, each had its own visual appeal. A fourth generation would need to match that aesthetic swagger.
Fortunately, nostalgia aesthetics are as in as they have ever been. Toyota did a masterful job reviving the Supra with styling that gave appropriate nods to its predecessor while still feeling fresh and modern. Here’s hoping the brand can do the same with a new MR2.
4 A Sports Car With Fun Color Options
Bright, bold color options should be the norm for the new MR2.
The car industry is covered in basic color options, from rental-fleet white to morning-commute silver and pickup-line beige. Toyota has already fought back against this trend with some bold, exciting color options across its lineup. A new MR2 would be an ideal opportunity to roll out even more enticing colorways.
3 Mid-Engine Convertible
Toyota already has a two-door coupe that competes with the Mazda Miata in the 86. That model, while compelling in its own right, lacks one of the key features that makes the Miata such a hot commodity: a convertible top.
Toyota currently lacks a single convertible model, let alone a convertible performance car (Lexus not withstanding). Bringing back the MR2 offers the chance to get back in the drop-top game. After all, the most recent MR2 to hit the streets was itself a convertible.
2 Three Exhaust Tips
One of the funkier design aspects of the new GR Corolla is its three exhaust tips. Using a similar design on a new MR2 would give it a distinctly Toyota-esque look.
It’s a pretty simple design choice that doesn’t have much bearing on the car’s actual performance. Still – looks matter. And sticking three pipes on the back of a brand-new mid-engine car priced for normal folks would certainly help the MR2 stand out.
1 Developed As A Toyota First
The idea of a brand-new, modern MR2 is certainly a tantalizing one for auto enthusiasts. But it ought to be a genuine Toyota – not another partnership build.
Toyota has done an admirable job catering to driving enthusiasts with models like the Supra and 86. Each is a phenomenal sports car. Still, the two coupes have dual allegiances. The new Supra borrows its underpinnings and engine from the BMW Z4, while the Toyota 86 does the same with the Subaru BRZ. Neither is a 100 percent Toyota product. The strategy has kept Toyota in the sports car game. Yet Toyota fans crave more sports cars that the brand has developed on its own.
Toyota has already taken the first step with its GR Yaris and GR Corolla hot-hatch siblings. Now it's time to take the full plunge with an all-new MR2 developed in-house with 100 percent Toyota DNA. Sure – it may not be a volume seller. But Toyota has plenty of those. It’s time for the brand to roll out a new statement piece.