I hope they kill off the celica, it'll make my car that much more desireable for resale down the road, besides, the whole underpowered toyota sports car thing is getting to be a pain in the butt.
I've been hearing it will see an 8th gen, but it may not come to the states, because as many have said, celica sales have been slumping lately (Well, duh! if you can get a WRX or an SRT-4 for the same money, I can see why...)
Toyota needs to get a clue on the whole "Pseudo-performance car" thing and make a car that has a bit more than an adequate engine.
Remember the Nissan Spec V, has less HP than a celica GTS, just recently, they've been putting out cars like the maxima, 350Z, etc.
Mazda has been going the same route as well. Mitsubishi puts V6 engines in the eclipse, and now the Lancer EVO is making a name for itself stateside.
Even the RSX-S is a better performer than the Celica GTS (albeit a thin line between the two Performance-wise). It seems as though Toyota has genuinely given up on real Performance cars.
The only thing Toyota has going for it right now? the Prius hybrid. It's getting the most press for toyota, and that's sad. As far as toyota is concerned, real Performance is a thing of the past, sad as it is to say, and the next time I consider a new car purchase, it probably won't be a toyota.
Celicas can hadle like a dream, they make decent power, not to mention look good, but if you're looking for a really fast car, you may want to consider another manufacturer.