New Toyota Corolla is due for 2008 introduction (Copyright: Wheels24/Wayne Batty)
The Corolla is one of the the world's best selling cars but the current model is facing stiff competition especially from Honda and the Korean carmakers such as Hyundai and Kia.
Toyota introduced the current model in 2002 and it is still a big sales hit for the company. The next generation Corolla will take its styling cues from new Toyota models such as the Yaris and Avensis.
According to Toyota the reason for the delay is because the company wants to ensure a smooth roll-out of the new Camry.
But rumours have it that the real reason is because of the new Honda Civic, which proves to be a winner with car buyers.
In other words, Toyota wants to ensure that the next generation Corolla will be more than able to compete against the Civic. Build quality and driving dynamics are also receiving special attention.
The hatchback model, the current RunX, is to get a new name too, which will be used around the globe. Currently the RunX is just badged as a Corolla too in other markets.