By The Toyota MR2 was discontinued after the smaller, lighter, and less expensive third-generation W30 MR2 had run its course for the 2005 model year. A combination of factors had forced Toyota to remove the MR2 Spyder from its lineup. In the early 2000s, the worldwide market for sports cars was shrinking. The MR2 had nowhere near the level of recognition and presence in the marketplace that the Mazda Miata could claim at the time.
Another factor was high production costs in Japan, which led Toyota to cut some corners in the MR2 Spyder’s interior. There was also increasing competition for fewer sports car sales — this would be a red flag to Toyota that this segment would no longer be successful for the Japanese automaker. In spite of additional refinements added over the course of its production — a clutchless Sequential Manual Transmission, a Torsen limited-slip differential, a 6-disc CD changer — no successor would come, as the final iteration of the Toyota MR2 ended with the 2005 model year.
That said, there have been rumors swirling that could indicate the 2026 release of a new MR2, allegedly using the same turbocharged G16E-GTS three-cylinder engine from the Toyota GR Corolla. With an estimated 316 horsepower, this new MR2 would be the most powerful one yet, with 135 horsepower more than the current-gen Mazda Miata, and 16 more than the current Porsche Boxster.
