The MR2 went through a complete redesign in 1989 (though North America did not receive them until late 1990 as 1991 models). The new car was larger and weighed 350 to 400 pounds (160 to 180 kg) more than its predecessor.
Because of the resemblance to the Ferrari 348 and the Ferrari F355, the new MR2 was quite striking, and it is sometimes referred to as a "poor man's Ferrari."
There are many subtle visual differences between the normally aspirated and turbocharged models: including the "turbo" emblem (US) on the rear trunk, a fiberglass engine lid with raised vents, fog lights (though some Japanese and European NA models came with fog lights), and an added interior center storage compartment located between the two seats. All SW20 MR2s came with a staggered wheel setup, with wider wheels and tires in the rear than in the front.
Mechanical differences on the Turbo models include, but are not limited to:
3S-GTE engine with associated air to air intercooler and different exhaust configuration;
Stronger and heavier E153 gearbox with different ratios and stronger axles;
Larger fuel pump and radiator.
Models with 3S-GE and 3S-GTE engines had twin-piston front brake calipers. Models with the 5S-FE engine had only single-piston calipers.
The US market MR2 Turbo model was able to accelerate from 0-60 in 6.1 seconds and finish the 1/4 mile in 14.7 seconds.
Changes to the suspension geometry, tire sizes and power steering in Jan of 1992 (as the 93 model year) were made in response to journalist reports that the MR2 was prone to "snap-oversteer". As a counterpoint to the snap-oversteer phenomenon of the MR2, other journalists point out that most mid-engine and rear engine sports and super cars exhibit similar behaviour, and that a change to the driver's response to oversteer is really the solution. In any car, braking shifts the weight forward, and acceleration to the rear. When drivers enter a corner with too much speed, and lift the throttle mid-corner, the weight transfers forward causing the rear tires to lose traction (called lift-off oversteer), which can result in a spin. When improper steering inputs were made attempting to correct this non-power-on oversteer, the rear of the MR2 would swing one way, then wildly (and quickly) the other—thus the term "snap" oversteer. Toyota elected to change the MR2 suspension and tires to reduce the likelihood that this would occur, though many drivers would lament the change and claim that it "neutered" the sharp edge the MR2 was known for.Toyota claimed that the changes were made "for drivers whose reflexes were not those of Formula One drivers."