Did someone say mid-engine and cheap? The next-gen Toyota MR2 could really be the affordable sports car gearheads have been waiting for.
Even though the highly-acclaimed Toyota GR Yaris wasn’t made available stateside at its launch, Toyota has made up for lost time with the 2023 GR Corolla. Essentially the same car under its hot hatchback bodywork, but with even more power, the GR Corolla is a performance bargain for well under $40,000. But budget rally car-aside, the Japanese giant has a trick up its sleeve: the next-gen Toyota MR2.
Updated April 2023: We’ve updated this article with the latest developments on the new MR2 front, including the expected pricing, specifications and launch date.
The Toyota MR2 was a mid-engined sports car with a low price tag, but packing a lot of fun. It hasn’t been produced since 2007, and the MR2 name has sat dormant. But with the revival of the Toyota Supra, it looks like the MR2 will rise from the grave as well.
According to the Japanese auto publication Best Car, a turbo three-cylinder is being developed with the help of Suzuki to bring the MR2 back to life. And supposedly, the new MR2-inspired hoot will be the cheapest mid-engined sports car in the US when unveiled, beating the Porsche 718 Cayman by a huge margin. These are just rumors, but let’s look at the leaks and see what they have to say about the “new” MR2.
Why Are MR2 So Expensive?
The final generation of the MR2 came standard with only one engine option: a 1.8-liter inline four-cylinder making 138 horsepower and 126 lb-ft of torque. Overall though, the MR2 was made in low numbers, making it a rare car. Which explains the boom in prices for used MR2 models as more people buy the hype. Fortunately, the new Toyota MR2 should fix that.
Reports out of Japan state that Suzuki is developing a turbocharged 1.0-liter three-cylinder engine that would produce around 120 horsepower. This seems tame, but it supposedly will be mated to a hybrid powertrain. The performance will likely be similar to that of the GR86, Toyota’s front-engined sports car, and that would honestly be a little disappointing. At least it won’t share the GR86’s boxer engine. It is a little strange that Toyota is apparently working with Suzuki on the engine for the MR2 as they already produce a turbocharged 1.0-liter three-cylinder for the Yaris GR.
The Yaris GR also makes loads more power than the rumored Suzuki engine. The hot hatch makes 257 horsepower and redlines at 7200 rpm, numbers that sound a lot more fitting for a mid-engined sports car. We won’t know why they made this decision until the MR2 is officially announced if that ever happens.
The New 2024 Toyota MR2 Would Be Extremely Lightweight
Every gearhead’s eyes light up when they hear about a new mid-engined sports car. Mid-engine means fun, and from what the reports from Japan say, it looks like the MR2 is set to be small, light, and fast. Reportedly, the MR2 could weigh as little as 2,200 pounds and have a wheelbase of around 100 inches.
That is very similar to the GR86, which while not a powerful car, is known to be nimble and planted around corners. Having the engine placed in the middle will only increase agility and driving dynamics. The MR2 also isn’t a completely brand-new platform for Toyota. While you might think that it would share parts with the GR86, it actually is borrowing the DNA of the Yaris.
Reports say that, notably, the front suspension would be shared between the MR2 and the Yaris. This makes it even more confusing as to why they wouldn’t just borrow the engine of the Yaris as well. If they are going to use the front suspension, they might as well take the rear suspension and drop the Yaris engine in to keep everything in-house.
The New MR2: Cheapest Mid-Engined Sports Car
While there is no official announcement about the future of the MR2, all signs actually point towards the MR2 already beginning the early stages of production. Toyota recently filed patents for a roadster type of vehicle, only adding fuel to the MR2 revival rumor mill.
A fully electric concept Toyota roadster was also showcased a few months ago, something that could easily be refitted to hold the rumored hybrid powertrain. More rumors continue to flow out of Toyota, making us think that a new MR2 is more of a ‘when’ rather than an ‘if’.
Alongside all the technical rumors, pricing has also made its way out of Toyota. The MR2 would allegedly be priced within the $20,000 mark. If that is true, the MR2 will by far become the cheapest mid-engined car in America. Currently, the cheapest mid-engined sports car to buy in the US is the 2023 Porsche 718 Cayman at $63,400. Perhaps Toyota saw the success of the mid-engined Chevy Corvette and decided they wanted to get in on the fun. Not to mention, there are plenty of fans who have been waiting for a modern version of the MR2.
