There were new front and rear bumpers, a different airdam, modified side and rear skirts, a four-position rear spoiler with a delta shaped wicker and aluminium wing. As for the leading dimensions, while the height ( 1415mm ) and wheelbase ( 2510mm ) remained the same as the Evolution IV, the length was now 4350mm, which was an increase of 20mm and the width was increased by 80mm, taking it to 1770mm overall. The track measurements were also wider at 1510mm at the front and 1505mm at the back. The bigger car followed the trend started by the World Rally Car regulations, although the Evolution V still managed to just keep within the Group A regulations. The engine was basically the same, with 8.8:1 compression ratio retained.
However, there was a modified twin-scroll turbocharger ( TD05HR-16G6-10.5T ) and intercooler, new lightweight pistons, and the radiator and oil cooler capacities were increased. Torque was enhanced somewhat by these changes over the Evolution IV - now listed at 275lb/ft at 3000rpm.
Gear ratios were carried over from the Evolution IV ( including the options on RS ), but the synchromesh and swift linkage was made stronger, topped with a smaller gearknob trimmed in black leather with red stitching ( actually, a number of road tests mentioned the better gearshift ). The innovative AYC system continued on the GSR, matched with a helical LSD up front. There was a longer lower arm on the front suspension, made from forged aluminium alloy, and the inverted front struts were given longer strokes. Mountings were changed at the rear to give the car its wider track, while revising the geometry at the back end gave a lower roll centre, thus enhancing road holding and vehicle response during cornering. In addition, the steering rack location was altered, along with the knuckle joint location, in order to give more linear response in corners, while a new pump was adopted, allowing the engineers to remove the power steering oil cooler to save weight. Tyres were now 225/45 ZR17 on OZ alloys - although 7.5J x 17, they were nonetheless of similar design to those fitted on the Evolution IV. As a a result, the front gained four-pot calipers ( formerly 2-pot ) and bigger 320mm diameter discs, while two-pot calipers were employed at the rear, again with larger 300mm diameter discs. Brakes were made by Brembo, with ABS coming as standard on the GSR. Inside, the Recaro bucket seats were employed, the Momo leathertrimmed steering wheel was carried over, as were the white faced gauges. Dual airbags were again a part of the GSR package. Carrying the CP9A-SNGF code the GSR was priced at 3,248,000 Yen. The interior was trimmed in black with grey inserts. The basic RS model carried the CP9A-SNDF code, it was available at 2,598,000 Yen. Still, running on 15" wheels and tyres, it required the old braking system. It weighed in at 1260kg, instead of the 1360kg for the GSR, although weight could be reduced further on the RS by opting for the thinner gauge body, or by asking for a car minus the aerodynamic appendages. RS packages were basically the same, although the optional wheel and tyre combinations were naturally bigger, in line with the standard GSR fitment, and a crossmember support bar was added each time the larger wheels and tyres were specified. Factory options included red "Ralliart" or dark silver "Evolution V" mudflaps, a turbo boost gauge, centre console kneepads, front and rear strut bars, an uprated suspension kit, a sports exhaust, navigation system, and various badges.