So here's the question. Is Toyota going to resurrect the Supra? We've seen examples time and again, with other manufacturers too like Acura/Honda's NSX and others.

The last time Toyota hinted at a direct successor to the Supra was in 2007 with the FT-HS Concept, a sharp looking two-seater model powered by a 400-horsepower hybrid powertrain linking a 3.5-liter V6 petrol engine to an electric motor. Unfortunately, the project ended with the financial crisis that ensued the following year.

Today, a recent report from UK's Car Magazine cited an unnamed source saying Toyota is working on a potential successor to the Supra, but with a twist.

Motor Trend says Toyota is looking to chann the FT-HS concept's styling philosophy into a new project based on the platform and running gear of the GRMN Sports Hybrid Concept II.

In its latest form, the roadster model that was developed by Toyota and its motorsports partner Gazoo Racing, featured a mid-mounted 3.5-liter V6 gasoline engine rated at 249-horses working in tandem with a single electric motor to drive the rear wheels, with a total system output of 299-horsepower.

The article claims that if the project gets the green light, the coupe could reach in showrooms by late 2015 "for less than $60,000".