2014 Toyota Corolla

We'll be publishing our First Drive of the 2014 Toyota Corolla later today, but right now, we can reveal that the eleventh-generation compact will be priced from $16,800 when it hits dealerships this fall (*not including a $810 destination charge).

Four trim levels will be offered, and that sub-$17,000 price point reflects the base L grade with a six-speed manual transmission. Adding the four-speed automatic (yep) brings that price up to $17,400, which gets you the usual features standard on this class of car, including Bluetooth connectivity, eight airbags and – a first for this price point – LED headlamps.

From there, the LE trim ($18,300) adds a backup camera, cruise control, keyless entry, Entune audio (including a 6.1-inch touchscreen) and a brand-new continuously variable transmission replacing the four-speed auto. There's even an Eco version of the LE trim that uses a different engine tune to provide fuel economy of up to 42 miles per gallon on the highway.

The top-trim S, pictured above, comes with a modified front fascia design, rear lip spoiler, leather-wrapped steering wheel, sport seats and more for $19,000. There are paddle shifters mated to the CVT with seven "gears," and optional 17-inch wheels are available. Toyota will offer the S trim with a six-speed manual as part of the Plus package, and the Premium pack adds Softex synthetic leather seats. All in, a fully loaded Corolla comes in just under $24,000. Not bad, at all.

Stay tuned for our full impressions of the new Corolla in just a few hours. In the meantime, scroll down to read Toyota's official pricing release.
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PRICING ANNOUNCED FOR 2014 TOYOTA COROLLA

All-new Corolla remains a strong value in the compact segment


TORRANCE, Calif., August 27, 2013 - The all-new 2014 Corolla will offer its dramatically elevated design, efficiency and renowned Toyota quality, at an extremely attainable price. The world's most popular compact sedan will remain a legendary value in the segment.

The 2014 Corolla is available in four distinct grades: L, LE, S, and the new LE Eco grade. The Corolla lineup offers a vehicle for broad range of customers, from the familiar value-minded to shoppers seeking a more premium compact car.

The Corolla enters the market with an MSRP of $16,800 for the L grade with a new 6-speed manual transmission. The Corolla L with 4-speed automatic is priced at just $17,400. The Corolla L includes a long list of contemporary standard features:

- LED lowbeam headlamps with LED daytime running lights,
- Standard Bluetooth connectivity
- Driver and front passenger Whiplash-Injury-Lessening (WIL) seats
- Eight airbags, including a new drivers knee airbag and passenger seat cushion airbag.

The Corolla LE targets the heart of the compact segment with a more upmarket list of features at a value price. The LE starts at $18,300, which is only $120 above last year's Corolla LE. The LE offers a list of convenient standard features that enhance the Corolla experience:

- Backup monitor
- Climate control
- Cruise control
- Keyless entry
- Entune Audio (including 6.1" touchscreen)
- Improved fuel economy afforded by the new CVTi-S transmission.

The sporty-themed Corolla S is available at $19,000, which represents a $60 reduction versus the outgoing model. The Corolla S offers a more athletic look and feel. Enhancements to the Corolla S include:

- An aggressive lower front grille with a piano black finish and chrome surround
- Unique suspension tuning for available 17-inch wheel package
- Available paddle shifters (with CVTi-S) to actuate sequential 7-speeds
- Sport cluster gauge with TFT meter
- Ornate piano black instrument panel
- Supportive sport seats
- Leather steering wheel cover

The all new Corolla LE Eco trim level offers enhanced fuel economy due to a 140-hp Valvematic-equipped engine, improved aerodynamics, and unique CVTi-S tuning. The LE Eco enters the market at $18,700. The Corolla LE Eco will offer an EPA rating of 42 mpg on the highway, giving it the best highway fuel economy in the class for a vehicle equipped with an automatic transmission (excluding electric vehicles, hybrids, and diesels).

New Elevated Corolla Models

The Corolla adds two new models to the LE, S, and LE Eco grades. The Plus model adds alloy wheels plus select features as standard equipment. The Premium model adds alloy wheels and Softex seats as standard equipment.

- LE Plus: 16" alloy wheels and integrated fog lights
- LE Premium: 16" alloy wheels, integrated fog lights, and Softex seats
- S Plus: 17" alloy wheels and rear disc brakes
- S Premium: 17" alloy wheels, rear disc brakes, and Softex seats
- LE Eco Plus: 16" alloy wheels, integrated fog lights, chrome beltline, Eco driving mode
- LE Eco Premium: 16" alloy wheels, integrated fog lights, chrome beltline, Eco driving mode, and Softex seats