2001 Toyota MR2 Overview, Reviews, Ratings & Specs

The Good

The 2001 Toyota MR2 Spyder offers exceptional advantages: its mid-engine layout ensures phenomenal, balanced handling and a pure, engaging driving experience for emotional buyers. Practically, it boasts Toyota's legendary reliability, impressive fuel efficiency for a sports car, and a surprisingly comfortable cabin. Its distinctive design, combined with excellent value and low ownership costs, makes it appealing to both enthusiasts and budget-conscious drivers alike.

The Bad

Known weaknesses for the 2001 Toyota MR2 Spyder include severely limited cargo space, making it impractical for long trips. While handling is superb, it can exhibit snap oversteer if pushed recklessly. Some owners report pre-catalytic converter issues leading to engine damage, and general oil consumption should be monitored. The interior, while functional, lacks luxury features, and road noise is prevalent.

2001 Toyota MR2: Quick Overview

Key Specifications for the 2001 Toyota MR2 Spyder:

• Engine: 1.8-liter DOHC 16-valve 1ZZ-FE inline-4 engine, naturally aspirated. This was the sole engine option available in North America.
• Horsepower: 138 hp @ 6400 rpm.
• Torque: 125 lb-ft @ 4400 rpm.
• Transmissions:
  • Standard 5-speed manual transmission.
  • Optional 5-speed Sequential Manual Transmission (SMT), which offered clutchless shifting via a shifter or steering-wheel-mounted buttons.
• Fuel Economy (EPA estimates):
  • Manual Transmission: Approximately 25 mpg city / 30 mpg highway.
  • Sequential Manual Transmission (SMT): Approximately 24 mpg city / 30 mpg highway.
• 0-60 mph Acceleration:
  • Manual Transmission: Generally in the range of 6.8 to 7.2 seconds, varying slightly with tests.
  • Sequential Manual Transmission (SMT): Typically around 7.0 to 7.5 seconds.
• Towing Capacity: The 2001 Toyota MR2 Spyder is not rated or recommended for towing due to its lightweight, sports car design.
• Trim-Level Features (Standard and Optional): The MR2 Spyder was largely offered in a single, well-equipped trim level with various packages and options.
  • Standard Features: Included air conditioning, power windows, power door locks, power mirrors, remote keyless entry, a tilt steering wheel, an AM/FM stereo with CD player, dual front airbags, anti-lock brakes (ABS), engine immobilizer, and 15-inch alloy wheels. Four-wheel disc brakes were also standard.
  • Optional Features: Buyers could opt for leather-trimmed seats, fog lights, a limited-slip differential (LSD), and upgraded audio systems. Some models came with a "Sport Package" that included larger 16-inch alloy wheels for the rear, a rear spoiler, and aluminum pedals. The Sequential Manual Transmission (SMT) was a significant optional driveline choice.

2001 Toyota MR2 Specifications

Vehicle History Report

What Problems Does the 2001 Toyota MR2 Have?

• Pre-Catalytic Converter Failure: This is arguably the most significant long-term concern, especially for models produced between 2000 and mid-2002. The ceramic material within the pre-catalytic converters, located in the exhaust manifold, can degrade and break apart. These ceramic particles can then be drawn back into the engine's combustion chambers, causing severe cylinder bore scoring. This leads to excessive oil consumption and eventual engine failure. Many owners proactively replace the stock pre-cats with aftermarket headers or "de-cat" pipes to prevent this issue.
• Excessive Oil Consumption: Directly linked to the pre-cat issue, and also potentially due to flawed piston ring designs in early 1ZZ-FE engines (again, primarily 2000-2002 models). Vehicles suffering from this will require frequent oil top-ups, and if neglected, can lead to catastrophic engine damage. Toyota later revised piston and ring designs to mitigate this. It's crucial for potential buyers to check for documented engine work or excessive oil use.
• Sequential Manual Transmission (SMT) Issues: While the standard 5-speed manual transmission is robust, the optional 5-speed SMT can be a source of frustration. Common problems include actuator failures, slow or rough shifting, and general electronic malfunctions. Repairs for the SMT can be very expensive, and many owners opt to convert SMT vehicles to a traditional manual setup if issues arise.
• Convertible Soft Top Wear: As with most convertibles of its age, the soft top is prone to wear and tear. Issues include cracking or yellowing of the plastic rear window, fraying of the fabric, and degradation of seals, leading to potential leaks or increased wind noise.
• Rust: Depending on the climate where the vehicle has been driven, rust can be a concern on subframes, suspension components, and exhaust systems. A thorough inspection of the undercarriage is advised.
• Suspension Component Wear: Over time, bushings, ball joints, and original struts can wear out, impacting the MR2's renowned handling.

How long will the 2001 Toyota MR2 last?

What Technology & Safety Features are Included?

• Built-in Tech: Standard technology included basic manual air conditioning, power windows, power door locks, and power mirrors. A tilt steering wheel provided some adjustability. There were no integrated navigation systems, multi-information displays, or sophisticated climate control systems.
• Entertainment: The standard entertainment system consisted of an AM/FM stereo with a single-disc CD player. Audio quality was decent for the time but not premium. Optional upgrades might have included an enhanced speaker system or an in-dash CD changer, though these were rare for such a minimalistic vehicle.
• Driver-Assistance Features: In terms of modern driver-assistance, the MR2 Spyder offered none. Features like adaptive cruise control, lane-keeping assist, blind-spot monitoring, or parking sensors simply did not exist for this vehicle class in 2001. The only significant aid was the standard Anti-lock Braking System (ABS), which assisted with emergency stopping.
• Safety Features: Standard safety equipment included dual front airbags for the driver and passenger. The aforementioned ABS was a critical active safety feature. An engine immobilizer system was also standard, providing a basic level of anti-theft security. An optional limited-slip differential (LSD) was available, which enhanced traction and stability during spirited driving, especially important for its rear-wheel-drive configuration.
• Crash-Test Ratings: Due to its niche market segment and low sales volumes, the 2001 Toyota MR2 Spyder was not subjected to comprehensive crash testing by independent organizations such as the National Highway Traffic Safety Administration (NHTSA) or the Insurance Institute for Highway Safety (IIHS) in the United States. Therefore, specific official crash-test ratings are generally not available for this model year. Owners rely on Toyota's general reputation for safety engineering and the standard safety features provided.

What Colors Options are Available?

2001 Toyota MR2 Prices and Market Value

2001 Toyota MR2 Cost of Ownership

2001 Toyota MR2 Fuel Efficiency

2001 Toyota MR2 Insurance

How Does the 2001 Toyota MR2 Compare to Other Vehicle?

• Versus Mazda Miata (NB generation, 1998-2005):
  • Performance: The Miata (especially later NB models with 140hp) offers a similar power-to-weight ratio to the MR2's 138hp. While both are renowned for agile handling, the mid-engine MR2 provides a unique balance and directness, whereas the front-engine Miata is more forgiving with predictable body roll. The MR2 feels a bit more exotic in its dynamics.
  • Features: Both are minimalist roadsters, but the Miata often offered slightly more creature comforts and cargo space.
  • Reliability: The Miata has a legendary reputation for bulletproof reliability. The MR2 is excellent, provided its early engine-specific pre-cat/oil consumption issues have been addressed.
  • Price: The Miata is generally more affordable on the used market, ranging from $4,000-$15,000+, while a good MR2 can be $8,000-$15,000+.
• Versus Honda S2000 (AP1 generation, 2000-2003):
  • Performance: The S2000 is in a different league, boasting 240hp from its high-revving engine and significantly faster 0-60 mph times (low 6s). It's a much more track-focused machine with incredibly precise steering and a superb 6-speed manual. The MR2 is about handling and purity, not outright speed.
  • Features: The S2000 offered a more upscale interior feel, including a digital dashboard.
  • Reliability: The S2000 is exceptionally reliable but requires diligent maintenance, especially valve adjustments. Its engine is more complex.
  • Price: S2000s command a much higher premium, typically $15,000-$30,000+, positioning it as a much more expensive alternative.
• Versus Porsche Boxster (986 generation, 1997-2004):
  • Performance: The Boxster (200-250hp) offers more power and refinement than the MR2, with a sophisticated chassis and a more luxurious feel. Both are mid-engine, but the Boxster is a heavier, more substantial car.
  • Features: The Boxster is far more luxurious, with premium materials and more advanced tech for its time.
  • Reliability: While a Porsche, the 986 Boxster can have expensive maintenance and repair costs, particularly concerning the Intermediate Shaft (IMS) bearing in some models, which can lead to catastrophic engine failure.
  • Price: Early Boxsters can be found for similar money to a good MR2 ($8,000-$20,000+), but their running costs are considerably higher.

Final Verdict: Is the 2001 Toyota MR2 a Good Vehicle?

2001 Toyota MR2 Owner Reviews

Drew B

Drew is a seasoned automotive expert and contributor to VinCheck.info. With nearly 15 years of experience as a former Porsche technician, he brings a wealth of hands-on knowledge to his writing. Born in North Carolina, a region renowned for its deep-rooted NASCAR culture, Drew developed a passion for cars early in life, often building and working on vehicles from a young age. At VINCheck, Drew leverages his extensive technical background to provide in-depth analyses of various vehicles. His articles often focus on engine performance, reliability, and maintenance insights, offering readers practical information grounded in real-world experience. Some of his notable contributions include reviews on the Mazda CX-5's longevity and detailed examinations of engine options for models like the 2011 Toyota Camry and Tacoma