Toyota appears to be preparing something rather wonderful: an expansion of its Gazoo Racing performance lineup, potentially including the return of two names that have been hiding in the attic for far too long — the Celica and MR2.

At the top of the new range sits the GR GT, a mid-engined supercar powered by a V8. Toyota wants Gazoo Racing to become more than just a collection of spicy versions of sensible cars, with the GR GT effectively establishing GR as a performance brand in its own right.

According to industry reports, the next MR2 could use Toyota’s new 2.0-litre turbocharged four-cylinder engine mounted behind the driver. Road cars could produce more than 400bhp, while racing versions might exceed 600bhp. In other words, the little MR2 could return with enough power to frighten considerably more expensive machinery.

The same engine could also find its way into a revived Celica, this time mounted at the front. Toyota is already testing the engine, with the GR Yaris M concept offering a glimpse of what is being developed.

And this is where things get particularly interesting. Toyota has already promised another Supra, while GR versions of future Yaris and Corolla models are reportedly being considered. The GR86 is also expected to remain.

So, after years of sensible hybrids and increasingly sensible sensible things, Toyota appears to have remembered that cars are supposed to be fun.

If the rumours become reality, Gazoo Racing could soon have a proper sports-car family — and, frankly, we couldn’t be happier.