7Tune is reporting that in an interview with Toyota's Dr. Shigeyuki Hori, Project General Manager for the Sports Vehicle Management Division and Kazuo Okino, Group Manager, that the long-awaited Toyota FT-86 was on-track and that rumors of a 2013 release date were "erroneous." Target release date is November of 2011 and Toyota is aiming for a mid-level price of $29,000 (2.5-million yen).

It was also reported that despite early reports, the FT-86 would not be a hybrid a-la the Honda CR-Z.

We're hesitant to go along with any rumor until an official word comes down either way, but for those inactivity eagerly for the Toyota / Subaru sports car to hit the market, it could be just around the corner.

(7Tune)