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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.
Show full PR text

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

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    • 1 Second Ago
      • 2 Years Ago
      Coming from someone who actually owns a tenth generation Corolla (due to marriage, not by choice). Although I take no pleasure in driving one, I believe this is the best Corolla yet (especially the interior)! The Corolla is traditionally known, marketed, and consequently engineered for a risk averse non-enthusiast who wants to get around reliably, comfortably, economically, worry-free, and without attracting too much attention. They most likely own only one car and do not view driving as fun activity, but rather as a means of survival in modern life. These are also people who keep their cars for a very long time, unlike enthusiasts who switch cars quite frequently. This happens to be a very large percentage of the market. Well done, Toyota. For those who want be a little more different and "sporty," there's the Civic, Elantra, Sentra, and Forte. For those who want a little more "luxury," and "style," there's the Jetta (and Focus?). For those who know the difference between torsion beams and macpherson struts, we have the Mazda3. Objectively, no single car is "better" than the other, because each is purposefully designed for a certain type of buyer.
        • 2 Years Ago
        I have a best friend who chose a Corolla, loved it.... until his partner exposed him to VWs. Even after driving his roommates 335xi many times, and his partner's F30 328i somehow the VW take on simple motoring finally convinced that Corolla was not the best way to get around. A little quality and well-resolved styling can go a long way to take people away from Corolla blandness. But I love this quote: "They most likely own only one car and do not view driving as fun activity, but rather as a means of survival in modern life." It's so true. I'd own a Corolla in Kandahar or Marrakesh over something remotely nicer for that reason.
          Black Dyanmite
          • 2 Years Ago
          VW also has a fresh take on reliability too. BD
          • 2 Years Ago
          Definitely! Also, in many parts of the world, if you drive around in even a slightly flashy car, you become a target for theft or kidnapping. I remember I had a friend who owned a Miata in Colombia during the 90's and had to have a security guard keep watch over it at night.
      • 2 Years Ago
      Why would you need separate DRL's when you have an LED low beam?
      • 2 Years Ago
      It's a better value than the Scion iQ.
      • 2 Years Ago
      I feel like the U.S. market for the Corolla is not of great concern for Toyota. The simplicity of the powertrain and design seem better suited for other world markets, particularly emerging markets and less wealthy nations, where durability and price matter more than style and technology. It will make for a great taxi in Southeast Asia. Given Americans' appetites for bigger cars and CUVs (Camry and RAV4), and given the serious competition in this segment that has the slimmest profit margins, perhaps Toyota is prudent not to cater to our market with the Corolla.
        • 2 Years Ago
        Corrola buyers are loyal- and they tend to care about two things above all: durability and price.
      • 2 Years Ago
      As a car enthusiast, this car makes me cringe. Underpowered and outdated engines, cheap interior materials, and a 4-speed auto. 4-speed auto, really? Is this 1991? Most of the hundreds of thousands of buyers won't care though. They'll buy it because they associate the Toyota badge with dependability, safety, and reliability (which although not untrue, there are plenty of other car makers that offer that at similar prices, but with better cars). The buyers of this car will buy this car because "it's nice", or "I like the color", or "those are neat headlights". I'm not trying to come off like a sarcastic jerk, but that's really what most people say.
        • 2 Years Ago
        I agree, but if I wasn't able to drive a manual transmission, which I can thankfully, I think I'd rather have the 4-speed auto over the continuously vial transmission. Even if the cvt has it's benefits, that whaling engine noise would be unlivable to me.
        • 2 Years Ago
        You raise a great point that Toyota is no longer the only name in dependable, safe, and reliable transportation. The rest of the industry has caught up to them in those areas. And if you can go down to another dealer and get all of that plus style and driving fun, many people will. They will still sell a ton. But I think over time Corolla will lose it's grip. They played it too safe. They have a ton of cash on the hoods of the 2013 to keep it at the top of the sales charts. I think in 4 years the Corolla will no longer be the top selling compact.
      Levine Levine
      • 2 Years Ago
      Just 5 years ago, a low end Corolla cost about $10.5k. Now, $16.8k for a piece of Toyota garbage. What a piece of rip-off. Time to abandon Toyota.
        • 2 Years Ago
        @Levine Levine
        BS. A 2009 Corolla today is worth nearly $10.5k on trade in.
        Vien Huynh
        • 2 Years Ago
        @Levine Levine
        Wow... really? 10.5K???
        • 2 Years Ago
        @Levine Levine
        No it wasn't, it wasn't even $10.000 over 15 years ago. You need to do some fact checking.
      • 2 Years Ago
      It's odd how Toyota's 2 mega-staples, the Corolla and Camry, have become the most boring cars that stir the most heated commentary on this site. I've grown to really be annoyed by these 2 cars as well. I like the new Avalon a lot but I'm convinced Toyota will phone in the Corolla and the Camry (to a lesser degree) as long as they can. Hopefully Ford's success will get them to change the next Camry to be a worthy competitor, and frankly the Accord should be kicking the Camry's @ss. I think these 2 cars drive enthusiasts' ire so much because they represent the unbridled success of mediocrity in its most pure form. Toyota is demonstrably avoiding being a class leader in these 2 segments, obviously because they feel they don't have to be. I guess these cars annoy me because I want to see them push things, and these 2 cars are the modern definition of resting on your laurels in terms of engineering and design. I swear Toyota puts that old diode clock in Corollas and Camrys just to spite modernity. They have had that thing since the mid-80s at least. But this Corolla is exactly what most of us thought it would be: class leader only in the segment where buyers would just as soon drive their vacuum cleaner to work every day if it had a roof, a stereo, and HVAC. LED headlights isn't enough to change my personal opinion if everything else is as bland as the last model. I'm certain the Focus, Cruze, and even the current Civic will maintain actual class leadership.
      • 2 Years Ago
      The Cruze, Focus, new 3, and Sentra still looks better.
      • 2 Years Ago
      Impressive feature set for the price.
      • 2 Years Ago
      I would pick up a loaded sonic before I picked up this pos for $17,000.00
      • 2 Years Ago
      Say what you want but this car will sell..
      • 2 Years Ago
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