Toyota fast-tracking sportscars

The car industry may be emerging from the Global Financial Crisis induced sales slump but it appears the effects will be felt for a long time to come. Nothing demonstrates the changing mood in the automotive industry better than Toyota's push to make sports cars again.

Having built its brand on conservative, mass-produced passenger vehicles new Toyota Motor Corporation president Akio Toyoda, grandson of the company's founder, said he is pushing to give Toyota a new image.

"I am what you would call in America a car nut," Toyoda told a press conference in the United States this week. "I am passionate about driving and I race as well."

The GFC saw Toyota lose over $4billion and speaking to the Wall Street Journal Toyoda admitted it has caused a review of how the company operates.

"The severe drop in the economy and auto market has created some of the most challenging times Toyota has ever faced," he said. "I aim to take us back to what made Toyota successful for many years -- making high-quality products at an affordable price."

As part of his racing program he competed in this year's Nurburgring 24 Hour in a prototype version of the Lexus LF-A. He wants to push the LF-A through to production as well as the joint venture coupe currently in the works with Subaru.

Speculation had previously indicated that the coupe would not arrive until 2011 but Toyoda revealed it may be sooner.

"I am very excited about it and plan to fast-track it," he said.

There had already been talk that a pre-production concept could appear as early as this year's Tokyo Motor Show in October.

The two-door coupe is expected to be rear-wheel drive and offer an affordable and lightweight package. Power for the new sports coupe is expected to come from Subaru's range of boxer engines in both naturally-aspirated and turbocharged forms.

The car will get Toyota back in the sports car business after systematically dropping all its sporty models in recent years. The Celica, MR2 and Supra were all discontinued from the Toyota line-up. The MR2 Spyder was the last rear-wheel drive offering but it was dumped from Toyota Australia's range in 2005.

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