This older Corolla generation is still available in Japan, but not for much longer.
Affordable new cars still exist—you just need to know where to look. In India, for example, you can buy a brand-new Skoda crossover or a Honda sedan for even less than $10,000. In Japan, Toyota offers an ultra-affordable version of the Corolla, distinct from the global model. Built on the older “E160” platform, this version differs from the larger “E170” that was previously sold in North America.
Sold as the Corolla Axio sedan and Corolla Fielder wagon, this no-frills compact car will go out of production in October 2025, according to Toyota Japan. A base-model Axio with front-wheel drive and a manual transmission costs 1,639,600 yen ($10,800), while the all-wheel-drive CVT version is priced at 1,913,000 yen ($12,600). The Fielder wagon is slightly more expensive, starting at 1,786,400 yen ($11,770).
The affordability of these cars is partially due to currency fluctuations—the Japanese yen has dropped 26% in value against the U.S. dollar over the past five years, recently hitting a 38-year low. Still, the idea of buying a non-kei car for such a low price feels like a relic of the past.
It’s been years since Americans could buy a new car for under $10,000. One of the last was the 2009 Nissan Versa, which sold for $9,990. Today, the same model starts at $18,330, and even that may not last—Automotive News reports that Nissan could soon discontinue the Versa, possibly along with the larger Altima.
Toyota has been selling this E160 Corolla since 2012, giving it an unusually long 13-year production run. In contrast, the current U.S.-market Corolla (“E210”) starts at $23,460—more than twice the price. While the newer model is objectively better, the stripped-down simplicity of the Axio has its own appeal.
Still, the reality is that most buyers today want more features and tech. The average price of a new car in the U.S. hit $48,031 last month, according to Kelley Blue Book. That means bare-bones models with steel wheels and no touchscreen wouldn’t sell well here—no matter how cheap they are.
