Similar to the second generation of the car, the third one came with a completely new MR2, a Toyota vehicle which was also called MR-S and MR2 Spyder.
Although it looks similar to the 1996 Porsche Boxster, the new MR2 is based on a concept unveiled by the Japanese company at the 1997 edition of the Tokyo Motorshow. Available in two body styles, a 2-door convertible and a 2-door coupe, the new MR2 comes with a new engine, namely a 1.6 liter l4 which develops 140 horsepower. In addition, Toyota released two new transmission versions, a 5-speed and a 6-speed manual gearbox.