1989.10 : The new MR-2(SW20) was introduced. The chassis's performance has been improved, and it was 200mm longer in length, 80mm longer in wheelbase and about 150kg more heavy in weight than the AW11 MR-2. The SW20 MR-2 is powered by the 3S-GTE 2.0 litre, L-4 DOHC turbocharged engine with intercooler,with 225 horsepower. And a 3S-GE L4 DOHC engine that produces 165 horsepower is also available. Front and rear brakes adopt ventilated disc brakes.

1991.12 : All versions got the larger 15 inches tires and brake, and the suspension has been improved to achieve in better at-limit handling stability and driving quality on all conditions. The MR-2 GT adopts Bilstein shock absorbers and a Viscous LSD.

1993.10 : The suspension has been further improved to to maximize driving performance and handling. The improved 3S-GTE engine makes 245 horsepower, and the 3S-GE engine makes 180 horsepower.

1996.02 : The MR-spider open top model was introduced by TTC (Toyota TechnoCraft).
The MR-spider is equpped with sports ABS, alloy wheels, a soft top, an exclusive engine food, driver & passenger SRS airbags, power steering, power window, keyless entry unlock, and an auto airconditioning
1996.06 : The MR-2 adds the dual SRS(Supplemental Restraint System) airbag and the sports ABS which utilized revolutionary state of the art technology giving brake control for all road surface conditions.

1997.12 : The 2.0-litre 3S-GE engine was changed into new BEAMS engine with VVT-i( Variable Valve Timing-intelligent ) that produces 200 horsepower and 21.0kg-m of torque.

1998.09 : The TRD2000GT was introduced. The features of the TRD2000GT are GT racing aero cowl (a front bumper, fenders, side steps, rear fenders, a rear bumper, and a rear wing), a phase-1 modified 3S-GTE engine (ECU, camshafts, head gasket), a high response muffler, adjustable suspension, front/rear stabilzers, and ALUMI-K 18x8.5/18x9.5 alloy wheels.

Main Equipment of the GT & GT-S : Alloy wheels & high performance tyres, Stabilizer (front & rear), Bilstein shock absorber, Viscous LSD, Sport ABS, front & rear spoiler, High mounted stop lamp, front fog lamps, electric door mirrors, Leather wrapped steering wheel & shift knob, Driver & passenger SRS air bags, power steering, keyless entry unlock, RECARO seats (option), Power windows, Auto air conditioning.
Main Equipment of the G-limited & G : Alloy wheels, Stabilizer (front & rear), Helical LSD(option), Sport ABS, High mounted stop lamp, electric door mirrors, Driver & passenger SRS air bags, RECARO seats (option), Power windows, Auto air conditioning,
[G-limited] front & rear spoiler, Leather wrapped steering wheel & shift knob, Power steering, Keyless entry unlock.