With the New York International Auto Show under way, Scion is taking the wraps off the FR-S Concept. It is a vehicle we’ve known before as the Toyota FT-86 Concept.

The FT-86 Concept was a result of Toyota’s slipping consideration in the the youth market. This problem led to Toyota head Akio Toyoda creating a plan to produce more sporty cars that would help inject excitement into the company. The aim is to bring back a fun-to-drive nature, and the effort is being kicked off with this car.

The FT-86 Concept was first shown at the Tokyo Auto Show in 2009. We’ve been hearing rumors of these vehicles for sometime before that too – this product line has had a long gestation period.

Just in case you didn’t learn it by now, Toyota really wants to make sure you know this car is rear-wheel drive. FR-S stands for front-engined rear-wheel drive and sport. The “concept” moniker is really just in name only, as Scion itself says it previews the production model coming to the lineup in 2012.