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The five revisions of the MR2 Mk2 all look very similar, and few outside the MR2 fraternity would be able to spot the difference immediately. The major visual differences tend to be the shape of the spoiler, size of the wheels, and the colour and shape of the tail lights. The real differences are in the specification. Each revision had a life span of around 2 years.
The Rev1 MR2 model ran from late 1989 through to the end of 1991 and is the Mk2 in its rawest form. No luxuries such as ABS or Power Steering were included, though some will argue that without these the car is sharper. The car was fitted with 14" alloy wheels though you'll rarely see one wearing those today. Most owners will have chucked the factory wheels in favour of something much bigger.
Very rarely you'll see a Mk2 Rev1 'G' without a factory fitted spoiler as for part of the life of the Rev1 it was available at a reduced price without one. Again, most owners will have fitted a spoiler to these cars by now. To keep prices down these cars were also missing the front fog lights fitted in the grill of most MR2s, and some of the internal features of the GT models.
The standard version of the 3S-GE engine used in the Revision 1 had an output of 168ps, though some were also available with the 3S-FE engine which produced a mere 112ps. This was lifted from other cars in the Toyota range to provide an economical version of the MR2 but unless you're planning on a major upgrade, or want an MR2 just for its looks, then you'll probably want to avoid this particular variant.
In 1991 Toyota upgraded the MR2 to the Revision 2. The key visual difference was the increase in the size of the alloy wheels from 14" to 15". There were also suspension changes to enhance the car's handling, bigger brakes fitted with ABS and new options including a limited slip differential.
Production of Revision 3 started at the end of 1993 though some UK 94 cars will still be revision 2 as the new model wasn't immediately available in this country.
The revision 3 was visually the biggest change to the MR2 Mk2 throughout its lifespan. The sills and the rubber strip along the side of the car are now colour coded (to match the colour of the car) and the shape of the spoiler is very different from those fitted to the earlier cars. At the rear the panel between the lights is completely different - again matched to the colour of the car - and the rear lights themselves are now rounded.
The Rev 3 also gets further handling improvements and changes to the 3S-GE engine.
Side impact bars are now standard rather than an optional extra as they were on the Revision 2, and at the beginning of Rev 3 optional airbags were available.
This version arrived in late 1995 and again lasted about two years until the end of 1997. Changes over the Revision 3 were very subtle; indicators changed from amber to white and the alloy wheels were different.
The engine's power was reduced slightly (by just 5bhp from 173 down to 168) as a result of work on the engine to improve emissions.
Revision 4 also includes lots of other detail changes inside, including changes to the stereo equipment.
For some the Revision 4 detail changes add up to a big improvement over the revision 3. For others they're just details.
The final revision of the MR2 MkII is another facelift featuring another major change to the shape of the spoiler which, on the Rev 5 is adjustable and is known as the 'Combat' spoiler! The style, but not the diameter, of the Alloy wheels was changed and there were other minor detail points to the internal and external styling.
The big difference beneath the engine cover was the upgrade to the 3S-GE engine which was give Variable Valve Timing to boost its power output to around 200bhp without any significant increase in standard petrol consumption figures. This is one of the first implementations of the new engine technology now used by Toyota in most of its current day cars and for many owners the extra cost of Revision 5 models is justified by the changes to the engine alone.