Scion officials pegged the price of the FR-S at $24,200 price tag, as the highly anticipated sports car gets ready to go on sale this spring.

The FR-S, which stands for Front-engine, Rear-wheel drive, Sport; will compete with the Mazda MX-5 and the upcoming Subaru BRZ which was developed jointly with the FR-S.

Configured as a 2+2 coupe, the Scion FR-S is powered by a new 2.0-liter, boxer-style four-cylinder engine which was also developed jointly with Subaru. The engine partnership combined Subaru?s newly developed horizontally opposed engine and Toyota?s cutting edge D-4S injection system that incorporates both direct and port injection. ?The D-4S system, partnered with a high 12.5:1 compression ratio to produce 200 horsepower and 151 pound-feet of torque.

?We all know that it?s not hard to make horsepower and torque, but it is hard to do all that and still achieve impressive fuel economy,? Hollis said. ?The FR-S accomplishes all three.?

The flat four engine mates with either a six-speed manual or the optional ($1,100) six-speed automatic transmission. The manual offers quick,?precise shifts with a short-throw; while the automatic transmission features aggressive up shifts and sporty rev-matched down shifts that are initiated by steering-wheel-mounted paddle shifters. Power is transferred to the rear wheels through a limited-slip differential.

The coupe?s weight was minimized by using an aluminum hood, a solid roof, and by featuring a trunk design instead of a hatchback.? A dynamically tuned suspension setup uses MacPherson struts up front and a double wishbone system in the rear. Lightweight 17-inch alloy wheels and ventilated disc brakes are on all four corners.