Toyota will likely delay the market launch of the FT-86 until 2013. Full details inside.

According to a recent report, Toyota's highly anticipated FT-86 has been postponed for two years.

While details are limited, Best Car Magazine is reporting the delay is due to Toyota's rejection of the concept's design. The company also believes a 2011 release would be premature, as economic conditions could result in weak sales.

As we have previously reported, Toyota confirmed they were teaming up with Subaru to develop a new sports car in April 2008. By February 2009, the car was put on hold because of the economic downturn. When August 2009 rolled around, Toyota reversed their decision and green-lighted production. Eventually, the FT-86 concept was unveiled at the Toyota Motor Show in October 2009. By February 2010, rumors surfaced that Toyota had rejected the concept's design - but the company later dismissed those reports.

Will we ever see a production FT-86? We'll have to wait and see.