At $36,995, the 2023 Toyota GR Corolla Looks Like a Bargain

• The 2023 GR Corolla starts at $36,995 after destination charges are applied.
• All 2023 GR Corollas come with a turbocharged 300-hp three-cylinder, all-wheel drive and a six-speed manual transmission.
• The Circuit Edition costs $43,995, and the super-rare Morizo Edition is priced at $50,995.

2023 GR Corolla Core – $36,995

The least expensive version of the GR Corolla is the base Core model, but just because it's the base car doesn't mean it's wanting for performance goodies. All GR Corollas come with the same 300-horsepower turbocharged 1.6-liter three-cylinder engine. It is the most powerful production three-cylinder Toyota's ever made, and it's mated exclusively to a six-speed manual transmission.

That transmission shuffles power to all four wheels via a trick AWD system that can vary the car's torque split front to rear three ways: 60%/40%, 50%/50% or 70%/30% — yes, this is a Corolla that can send most of its power to the rear wheels. Those wheels measure 18 inches in diameter and are wrapped in Michelin Pilot Sport 4 rubber. They cover 14-inch brakes up front and 11.7-inch brakes in the rear.

Buyers who want to fit their Corollas with even more performance goodies can opt for the Performance package. It costs $1,180 and adds Torsen limited-slip differentials to both the front and rear axles and red brake calipers. There is also a Cold Weather package ($500) that adds heated seats and a heated steering wheel and a Technology pack ($770) that adds a Qi wireless charger and a JBL-based audio system. All in, a fully loaded GR Corolla Core will cost a grand total of $39,445.

Circuit and Morizo editions will cost ya

There's more to the story than just the base model, however. The Circuit Edition is a one-year-only special, and it starts at $43,995. It takes a fully loaded Core model and adds a forged carbon-fiber roof, a sporty rear spoiler, a ventilated hood with a power bulge, and part suede, part leather interior seating with red accents. There's also a unique shift knob with Morizo's (that's Akio Toyoda's not-so-secret racing identity) signature stamped on.

The tippy-top of the range is the Morizo Edition. Just 200 of these will come to the U.S., and they're going to be the most hardcore version of the GR Corolla. The Morizo takes everything in the Circuit Edition but chucks away the rear seat and replaces it with a roll cage. That's right, people, this Corolla seats just two people. It's all in the name of reducing weight, and getting rid of the rear seat helps shed about 100 pounds.

Morizos also get forged 18-inch wheels wrapped in even sticker Michelin Pilot Sport Cup 2 rubber, a close-ratio six-speed manual, stiffer spring rates and firmer monotube shocks. There's even a bit more power. Well, not power, per se, but torque. Thanks to some extra boost from the turbo, the Morizo Edition makes 295 lb-ft of torque, up 22 lb-ft from the standard car's 273 lb-ft. All this ain't cheap, and the limited-run Morizo model will cost you $50,995.

We say go straight for the Core model and skip all the extras. With cars like the Golf R starting at $44,640 and the Civic Type R destined to cost nearly as much, the GR Corolla represents a honest-to-goodness deal in this space. Hats off to Toyota for keeping performance bargains alive. Look for Core models to arrive in dealers later this year, and Circuit and Morizon models to hit dealerships in the spring of 2023.

Edmunds says

How does it drive? Stay tuned to find out.