Sneek Peek: 2014 Toyota Corolla

Toyota Toyota's redesigned 2014 Corolla aims for a more distinctive look than the current car, with a front end and headlights that borrow their angular looks from the recently-launched Camry sedan.

 Toyota Motor Corp. has unveiled the new sporty design for the 11th generation of its Corolla compact car, a long-delayed revamp for a model that has fallen behind its competition in styling and technology.

The 2014 Corolla, scheduled to reach U.S. showrooms this fall, will be a key to Toyota’s efforts to regain momentum and market share in the U.S. Toyota’s overall U.S. sales are up 5.2% for the first five months of 2013 compared with a year ago, but that is slower than the growth in the market overall, and Toyota’s market share has slid to 14.2% from 14.5% a year ago.

 The Corolla unveiled Thursday is a foundation of Toyota’s global sales, and a pillar of its corporate image. During the 1970s, the Corolla helped to establish Toyota’s image in the U.S. and many other markets for building efficient, highly reliable cars. Toyota has sold some 40 million Corollas, and now boasts that it is the “best-selling car nameplate on the planet.” The Corolla has become to Toyota what the Beetle is to Volkswagen and the Model T was to Ford Motor Co.

However, since the modern Corolla was last redesigned for the 2008 model year, its rivals in the compact segment have come out with cars that have sportier looks, more comfort and entertainment features, and get better mileage. The current 2013 Corolla LE, with a dated four speed automatic transmission, is rated at 29 miles a gallon in combined city and highway driving. Honda Motor Co.’s HMC +1.03% Civic is rated at 32 mpg. The Ford Focus, with a six speed transmission, is rated at 31 mpg, and the Hyundai Motor Co. KR:005380 -1.19% Elantra has a 32 mpg rating.  Bigger Corolla borrows styling cues from the Camry

The new Corolla aims for a more distinctive look than the current car, with a front end and headlights that borrow their angular looks from the recently-launched Camry sedan. The 2014 Corolla is about 3.9 inches longer than the current car, and 0.63 inches wider. Back-seat passengers get more room as a result, Toyota says.

In place of a four-speed automatic, Toyota says it will give the 2014 Corolla a continuously variable transmission that in certain versions of the car will mimic the shifting sensation of a seven-speed automatic transmission. A Corolla LE Eco model should get more than 40 miles a gallon on the highway, Toyota said. The 2014 Corolla’s four-cylinder standard engine will have the same 132 horsepower as the outgoing model. Toyota didn’t release final mileage estimates or pricing for the 2014 Corolla.

The current Corolla is among the oldest entries in a competitive segment, but the car has continued to sell comparatively well, albeit with more reliance on sales to rental car fleets. The Corolla was the 10th best selling vehicle in the U.S. in May, ahead of the Focus and the Elantra.

Toyota could face a challenge if it tries to significantly raise the price of the 2014 model compared with the 2013, which starts at just over $17,000—about $1,000 less than the cheapest Honda Civic.

Edmunds.com, a car shopping information website, says that for 35% of the Corolla sales last month that involved a trade-in, the car traded as an older Corolla. About 27% of Corolla shoppers also looked at a Honda Civic, according to Edmunds data. But only 11% of Civic shoppers checked out the Toyota model.

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