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Back in November Toyota’s German Chief Markus Schrick confirmed Toyota was working on several new sports cars including a replacement for the Celica and now Japanese magazines are claiming the new model will arrive as early as next year.

The new car is said to be the joint-effort of a collaboration between Toyota and Subaru and it will reportedly be offered in two different variants, a cheaper GT model and a high-performance AWD GT-Four.

The cheaper GT version is supposed to have a target price under $20,000, Japan’s Best Car reports, which agree with earlier reports claiming Toyota was working on an affordable successor to the 1980’s AE86. The GT will feature a conventional front-engine RWD layout and will be powered by a naturally aspirated 2.0L Subaru four-cylinder boxer engine.

The more expensive GT-Four, meanwhile, will come with AWD as standard and get the same 300hp turbo four as the Japanese spec Subaru Impreza STI.

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More details on Toyota's Celica replacement

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