Japan’s first mid-engined production car …
I love small two-seat sports cars because they are usually fun to drive and this week’s car spot, the Toyota MR2 is a great example. It was built in Japan and marketed globally by Toyota from 1984 until 2007 over three generations and was an instant hit.
Proving that mid-engine sports cars don’t have to cost a tone of money the thought behind it was to develop a small, economical, and sporty car, the MR2 uses tested design elements, including an inline-four engine, transversely mounted in front of the rear axle, four-wheel disc brakes, and fully independent coilover suspension. They wanted the MR2 to be an enthusiast’s car and hired Dan Gurney to test it on track.
RELATED Spot: One of the MR2 competitors, the Pontiac Fiero.
Consumers got a first glance at the car at the 1983 Tokyo Motor Show when Toyota unveiled the mid-engine SV-3 prototype which was so visually close to its production form that only the front and rear spoilers were redesigned for the production model for better aerodynamic stability in crosswinds.
The name MR2 could stand for a couple of things, either “mid-ship run-about 2-seater” or “mid-engine, rear-wheel-drive, 2-seater”, however in French-speaking markets, the vehicle was renamed Toyota MR because the abbreviation MR2 sounds like the French word for shit. OK, whatever.
The bar for this car was set high since its main competition was the Mazda Miata. With a base price of $23,098 it hit the market running with a race-car-derived chassis, fully independent suspension, alloy wheels, and vented four-wheel disc brakes with standard ABS. The automotive press loved it calling it a “honey-I-shrunk-the-Ferrari” machine that was better sorted than pretty much any other mid-engine sports car at any price.
The MR2 received great reviews for its finely balanced handling, its superb five-speed gearbox, and its jewel-like twin-cam, sixteen-valve, four-cylinder engine. Car and Driver singled out its gearbox and its ergonomic layout as the best in the industry and voted the MR2 to its “Ten Best Cars”. The car’s only downsize was poor handling in snow. Not sure about you, but to me this would be a summer-only car in Wisconsin.
The MR2 went through two more generations each with styling and performance updates and even set a land speed record for its class until sales started to dwindle. It was never a big-volume car selling 7,233 in its first year of production but it was all downhill after that. Just 2,800 MR2s were sold in 2004 when Toyota announced it would discontinue US sales at the end of the 2005 model year. However, it continued to be built in Japan, Mexico, and Europe until 2007. Over its six-year US run, Toyota sold just 27,941 MR2s.
What are they worth now? According to Hagerty you can pick up a first-gen in Good condition for $13,000 while one in Concours now goes for just over $34k and the values are trending up. A 1988 Toyota MR2 Mk I in Concours is $45,400 and if you’re looking for a 1994 Toyota MR2 Mk II Turbo in Concours, that will set you back $64,300. What a fun little (now pricey) car.
Thanks for stopping by and reading about my spot this week and Happy New Year. Check out my other spots and come back next Friday for another spot along with some of its history. Have a super weekend.
Savage On Wheels 
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