Here it is: the Toyota FT-1 (aka "Mirai") concept. The car that could resurrect Toyota’s respect in the automotive world.
Early speculation is that yes, this could be a new Supra. This isn’t the first time that’s been said in recent years - following concepts and spy shots of the Toyobaru cousins (FRS and BRZ), the automotive press concluded that Toyota’s variant might be the reincarnation of the Supra. That, of course, didn’t turn out to be the case. Though the FRS and BRZ are doing quite well in the entry-level sports car market.
The concept’s original name, “Mirai,” is fitting - mirai means future, so this could be Toyota’s flagship sports car for the future. Like the Supra was in the 90s, at least in the US. Production of the MKIV Supra (the last generation) officially ended in 2002, but Toyota halted exports to the US before that.
Here’s why all of this is important: cars like the Supra don’t drive the majority of a company’s profits, but they push something more valuable - perception. Toyota will never make as much money on a Supra successor as they will on the Corolla; a Corolla is a mass-market car. All kinds of people buy Corollas, but there’s little about economy cars that endears buyers to brands. A sports car, especially one as legendary as the Supra nameplate has become, makes a car company cool. Even though the flagship cars are out of the financial reach of most buyers, that doesn’t stop them wanting it, or at least something else the brand offers.
They weren’t the only ones who did this. Everybody wanted a Corvette, but they couldn’t afford it. So they bought a Cavalier coupe instead.
But Toyota was especially good at this strategy in the 90s. The Supra sat at the top of the range as the big, rear wheel drive power car, costing around $35K at the time (that’s around $55K these days) and inciting the desire of teenage boys everywhere. That wasn’t a feasible amount for most buyers; yet, Toyota had established in consumers’ minds that the brand was cool, and the cars were famously reliable. Less affluent buyers could instead opt for the Celica, a front-wheel drive sports compact that performed well, but nowhere near the Supra’s level. That was around $25K in today’s money.
Toyota also sold the MR2, a mid-engined sports coupe that embarrassed the Fiero and a few Ferraris of the time. That was sandwiched between the Celica and Supra markets, for enthusiasts who wanted something a bit different. Also regarded as a very cool car, with looks reminiscent of a Ferrari 355.
These cars established Toyota as a great brand, and helped sell larger market cars like the Corolla and the Camry. Couple that with the outstanding reliability most of Toyota’s cars offered, and the company had an extremely loyal customer bases for almost a decade following the Supra’s US disappearance.
The cool image of the brand faded in the years following, however. The MR2 faded into obscurity in its third generation, and the Celica became nothing more than a two door Corolla. Now Toyotas were for your dad, not for you (the cool, 17 year old teenager).
Then, Scion was born to give Toyota a new name to sell young and enthusiast buyers on. By and large, that hasn’t worked - the tC was an exception for a few years, but again it was nothing but a bloated two-door Corolla - until the FRS was introduced in 2012. That’s invigorated the Scion brand, and given Toyota a bit of respect in the automotive world. It hasn’t been enough to revamp the public perception, but that’s because the FRS isn’t a flagship sports car. It’s a 25K car for the entry-level gearhead. It’s not strong enough to lead a brand when the rest of the company’s cars don’t follow the same “less is more” driving mantra.
You know what is strong enough? A Supra. If Toyota’s last few years are any indication though, the Mirai concept could very well wind up with a Scion badge.
Toyota FT-1 Concept: The Supra Reborn?
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