Toyota 86 starts at $29,990

The bottom line is the icing on a car cake that is tastier than anything from Japan since the original Mazda MX-5 in 1989, and a rare reflection of the strength of the Australian dollar.

Instead of banking big profits on a car that has already created a huge waiting list in Australia, Toyota has passed on the dollar value in a car that was widely predicted to have a starting sticker of around $35,000.

Nothing has been cut from the package to achieve the sub-$30,000 bottom line for the 86 GT manual, and even the upscale GTS - which picks up a bunch of stuff including bigger wheel and brakes, better aircon and satnav - is still cheaper than expected from $35,490. "Sometimes in this job you get lucky," says Toyota's marketing boss, Matt Callachor, announcing the price today in Canberra.

He says pricing negotiations with Japan ran right to the local deadline and the successful outcome was even kept from Toyota's dealers until the official announcement at 10am. The good news puts pressure on every company in the sports car class, but particularly Hyundai with its impressive new Veloster coupe and Subaru, which begins sales of its BRZ - a near-identical shared product - in July.

The 86 project leader, Tetsuya Tada, is happy about the Australian pricing, but still focussed on his work to create a car that was tasted from the top of Toyota - by new company boss Akio Toyoda, grandson of the founder - to go all-out to put driving enjoyment back into the T brand. "This car is not about numbers. It's a car that really gets your engine pumping. It was built by passion, not by committee," says Tada.