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Here’s a rare piece of good news for the driving enthusiast. It is confirmed that the Toyota 86 will live on, and a second-generation 86/GT86 is being worked on. The Mk2 86 is likely to surface in 2018-2019, Autocar reports.

“The GT86 is at the stage where it’s being decided on the next one. Then a chief engineer will be assigned and away we go,” said Toyota Europe boss Karl Schlicht. “The GT86 will carry on. The car serves a big purpose. We are not getting out of that business. Sporty cars go through their phases. It’s our intention to continue with that car,” he added, referring to strong early sales tapering off.

The rear-wheel drive coupe is powered by a naturally aspirated flat-four by development partner Subaru, which has its own version called the BRZ. That relationship is likely to continue, although it’s yet to be formalised.

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“Will it be with Subaru? I don’t know. But for the concept to carry on, with the low engine, we’d have to do that. There are a lot of reasons to continue with Subaru,” Schlicht said. The hachi-roku’s snout and centre of gravity is kept low by the design of Subaru’s boxer engine, and that improves handling.

We’ve been treated to concepts of the 86 in shooting brake and convertible forms, but an open top variant is unlikely. “We wouldn’t do it on the current model. That doesn’t mean dealers wouldn’t like one, but there are so many other priorities that I don’t think we’ve got spare capacity for that,” Schlicht explained.

It’s great to know that the second-gen 86 will be sitting under the reborn Toyota Supra in the Japanese giant’s sports car line-up. That car is currently in development with BMW, which is using the same underpinnings for its next Z4. “That co-operation is going well. It’s on track. It’s being done in Europe. Our version is a different car from BMW’s,” Schlicht said.

Sunny days ahead for Japanese sports car fans!

GALLERY: Toyota 86 GT Limited facelift