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Toyota’s $70K Sports Car Set for 2026: Is the MR2 Back?

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Toyota, known for the GR86 and Supra
Announced the development of a new sports car
Will it inherit the legendary MR2?

Toyota

Toyota, known for its diverse range of vehicles—from compact cars to large SUVs and sports cars like the GR86 and Supra—has a rich history in high-performance engineering. Over the years, the brand has produced several iconic sports cars, including the Celica, 2000GT, AE86, and the MR series. The Supra has arguably achieved the most fame, particularly after its appearance in The Fast and the Furious franchise.

Recently, news surfaced about Toyota developing a new sports car. Many believe it will be the successor to the MR2, a model that has been the subject of rumors for years. The new sports car is expected to debut in 2026 and bring the MR series back to life.

Toyota
Toyota

What is the Toyota MR series?

The Toyota MR series debuted in 1984 as a compact, two-seater sports car with a unique twist—a midship engine layout typically found in supercars, not regular sports cars. The midship design was implemented after successful test results when engineers placed the engine in the center of the car. The result was the MR2, with “MR” standing for “midship runabout” and the “2” representing its two-seater configuration.

The first-generation MR2 came equipped with a 1.6-liter gasoline engine, the same engine that powered the famous AE86. The car quickly gained a reputation as an affordable midship sports car, both in Japan and globally, and won the 1984 Japanese Car of the Year award. The second-generation model, launched in 1989, saw a shift from angular to more streamlined styling and an increase in engine size to 2.0 liters. The GT variant even featured a turbocharged engine, producing up to 225 horsepower—impressive for its time.

The third generation, released in 1999, marked a significant change as the MR2 shifted from a coupe to a roadster. Its size was reduced, and a smaller 1.8-liter engine was introduced. Despite its strong performance, the third-generation MR2 struggled with limited practicality and a high price tag, leading to its discontinuation in 2007 as the market for compact sports cars waned.

Toyota
Toyota

The return of the Toyota MR2

Toyota is now working on a revival of the MR2. It will maintain the same midship compact two-seater sports car concept as before and will be equipped with a futuristic design and the latest engine. While the original was rear-wheel drive, the revived MR2 will reportedly be all-wheel drive. The FT-Se concept car was previously revealed.

The engine is said to be a 2.0-liter gasoline turbo engine that produces 400 horsepower, and for motorsports, it will be increased to 600 horsepower. There is also news that it will be equipped with a 1.5 gasoline turbo engine with a lower displacement. Interestingly, the MR2 was initially planned as an electric vehicle, but Toyota has reportedly shifted gears, deciding to release it as a gasoline-powered sports car without even a hybrid option.

Toyota
Toyota

Scheduled for launch in 2026, with an expected price of $70,000

The next-generation MR2 is said to be scheduled for release in 2026. It can be seen as a successor model to the Supra, expected to be discontinued along with its sibling, the BMW Z4, in 2026. Its competing models are said to be the Porsche 718 and the Lotus Emira.

The price is expected to be around $70,000, significantly more expensive than the Supra. Since it uses the latest technology and a midship engine, the displacement is lower, but the price is expected to be much higher.

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