It's been a while since Toyota has brought out a product that really excited the blood of car enthusiasts. In fact, Toyota's new president Akio Toyoda has spent a lot of time apologizing for the state of his company's cars lately, telling several interviewers that the company's current lineup tends toward boring cars. Apparently, he has a few tricks left to show us. An amateur race car driver in his spare time, Toyoda has hinted that a new, inexpensive sports coupe might be on its way. Today, the automotive press has the first pictures.

Edmunds Inside Line reports, "For years, Toyota has yearned to build a fun new lightweight rear-wheel-drive sports coupe in the mold of the cult AE86 Corolla Sport from the '80s. Now, at last, it's on the way with this fascinating FT-86 concept, which will bow at the 2009 Tokyo Auto Show later this month." Developed jointly with Subaru, the FT-86 looks to be the first sporty, affordable Toyota since the MR2 left the scene in 2006.

It's unlikely to stay a concept for long. The U.K.'s Top Gear reports, "The FT-86 is labelled a concept, but is expected to reach the road in 2011 alongside a Subaru-badged version."

Mechanical details are scarce at this point, but we expect to know more in a few weeks when the car formally appears at the Tokyo motor show. Autoblog reports, "We do know it's powered by a Subaru-derived 2.0-liter boxer four sending power to the rear wheels. Toyota focused on keeping the weight down to improve handling and, according to one source, the platform is unique to the concept." The Subaru boxer layout lends itself toward sporty driving dynamics, since "the engine sits lower in the engine bay to aid aerodynamics while keeping the center of gravity in check," but Subaru has never used the layout to power a rear-wheel drive sports car before.

The boxer engine can also be turbocharged within an inch of its life to produce more power than most similarly-sized units, but Top Gear notes, "that would also put the price up: Toyota and Subaru are aiming to keep the cost as low as possible to attract younger drivers to the brand."

The FT-86 may take two years to reach showrooms, but it's already having an effect on Toyota's image. Jalopnik writes, "Dare we say it, we actually like the look of it. It's... exciting, we're so confused here...we're about to shed a tear over what looks to be the return of the old, fun AE86 sports coupe-building Toyota."

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