Toyota scrapped their entire sports car division in order to basically launch the Scion spin off which is more appealing to the younger market they were trying to target with the Celica.
And to the answer at the top the last generation celica GT-S does 0-60 in the 6 second range which is a lot from a 1.8L engine....
The 6th generation Celica GT-4 did it in high 5's-low6's which is again a lot from a 2.0L engine...
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