The 2003 MR2 Spyder saw a number of changes from the previous year. The sequential manual transmission went from a five-speed to a six-speed, fog lights were standard, and the gauges were redesigned. The exterior also got a facelift, including a new front end, new head and taillights, and color-keyed intake vents.

The 2003 MR2 Spyder came in one trim level, with very few available options. The handful of choices included leather seating, the SMT, and cruise control. The engine, which was mounted in the middle of the car, was a 1.8-liter, 138 horsepower four-cylinder. The transmission was a five-speed manual, and it had rear-wheel drive. The top is designed to sit flush with the body of the car when down, so no cover is required. Fuel economy is about 25/32.

Drivers of the 2003 MR2 Spyder readily admit that it is a for-fun car only. Owners say the trunk is practically nonexistent, the space behind the seat can only hold a briefcase or two, the seats can get uncomfortable during a long drive, and it can be downright dangerous in the snow. Still, Spyder owners love their cars because it is fun to drive, handles well, looks good, and comes with typical Toyota reliability.