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The small and light MR2, designated AW11, was perhaps something no one had expected from any of the Japanese car manufacturers, known for their economical and practical cars. The two-seat MR2 was definitely not practical as a family car, but the design criteria were different from that of most previous cars. The most important features of the AW11 were its light body (as low as 2,200 lb in Japan and 2,350 lb in the US), superior handling and relatively powerful, small-displacement engine. Thanks to these features, the AW11 is considered by many to be very enjoyable to drive. Its behavior mimics that of highly expensive supercars and is easy to control and nimble in its movements. Toyota's cooperation with Lotus during the prototype phase can be seen in the AW11, and it owes much to Lotus's legendary sports cars of the 1960s and 1970s.
As a powerplant, Toyota chose to use the 4A-GE 1600 cc I4 engine with two overhead camshafts which allowed the use of 16 valves for a better gas flow through the combustion chamber. The engine was also equipped with a Bosch L-Jetronic type multi-point fuel injection and a variable intake geometry (T-VIS), giving the engine a maximum power output of 128 hp (95 kW). US-spec engines were rated at 112 hp (84 kW), Euro-spec at 124 hp (93 kW). The engine had already been introduced earlier on the Toyota AE86 Sprinter, gathering a lot of positive publicity. There was also a JDM model AW10 which used the more economical 1500 cc 3A-U engine, but it didn't gain too much popularity.
For the 1986 model year, the AW11 went through several changes which affected both its looks and performance. The most important addition was probably having the option of a removable t-top, not available in the US until the next model year. The exterior was modified by color-coding the bumpers and side stripes, adding small side skirts and a translucent spoiler to the rear of the roof. Other new options included a leather interior and a four-speed automatic transmission. Some further changes were made to the exterior the following year, but more notable were the addition of larger brakes and a heavier C52 transmission which replaced the older C50.
In 1987, Toyota brought a new choice for an engine for people longing for more power. Based on the same block and head, the 4A-GZE was equipped with a roots-type supercharger and therefore the compression ratio, valve timing and ports were modified. The engine produced a maximum power of 145 hp (108 kW) and accelerated the small car from 0 to 100 km/h (0 to 60 mph) in 6.7 to 7.0s. In addition to the new engine, the MR2 SC was also equipped with stiffer stabilizer bars and reinforcements in the bodyshell to improve rigidity. Unfortunately, this model was never sold in European markets, although some cars were privately imported.
The press received the AW11 with open arms and praised its innovation, great feeling, and responsive engine. American car magazines Road & Track and Car and Driver both chose the AW11 on their lists of ten best cars which included some tough competition, such as the Ferrari Testarossa. The Australian Wheels magazine chose the 1988 AW11 as its favourite sports car. The MR2 was Motor Trend's Import Car of the Year for 1985. In 2004, Sports Car International named the MR2 number eight on the list of Top Sports Cars of the 1980s. The MR2 was on Car and Driver magazine's Ten Best list for 1986 and 1987.