2023 Toyota GR Corolla Falls Victim To Massive 50% Markups

Nov. 29, 2022 11:30 AM ET byMichael Butler Pricing /13 Comments

And demand is so high, this is only the beginning.

Massive markups on theToyota GR Corollahave already begun, with a Core Edition (base model) recently being advertised at 50% over MSRP. Listed by 355 Toyota of Rockville, the GR Corolla was originally listed at $60,223 - a substantial margin over the as-specced MSRP of $38,953, excluding destination.

After the price was reported byCarscoopsand started spreading across enthusiast groups on Facebook, 355 Toyota has changed the listing, now labeling it with a "Call for Pricing & Availability" label.

We knew this was going to happen, and yet still, we somehow weren't ready for the reality of it.

Toyota

TheGR Corollawas recently launched to much fanfare and is a much-welcomed addition to Toyota's performance car range in the US, butits limited numbersand high demand, are letting dealers do as they please. Only 6,000 to 8,000 of these specialized performance hatchbacks areset to be sold yearly.The US will receive a tiny batch of just 6,600 cars for the 2023 model year, of which 5,100 will be of the standard version and 1,500 of the Circuit Edition.

And a brief glance at various community forums shows that fans have been scrambling for months to secure an allocation before pricing was even announced.

The GR Corolla might not be a limited-run production car, and Toyota will sell as many as it can for the duration of its production, evenhinting that more special editionsalong the same line as the Morizo Edition are to come.

355toyota.com

Back to the car in question, though. The VIN reveals that the vehicle is still in the build phase. The best part is that this is simply a base model and not the upgraded Circuit Edition which comes with a carbon roof, performance brakes, and other goodies. The ultra-exclusive Morizo Edition, with an MSRP of $49,900, could have seen its price climb into the $80,000 range.

The car in question is, however, fully specced, with the Cold Weather Package (heated seats and steering wheel), Performance Package (front and rear Torsen limited-slip differentials and red brake calipers), and Technology Package (JBL Premium Audio and wireless device charging pad), plus several accessories like a GR shift knob and all-weather floor liners.

Insane markups like this have hounded other Japanese sports cars, such as the Nissan Z, which has seen prices rise to a staggering $129,000. While we don't see the GR Corolla becoming a six-figure car anytime soon, we don't see this being the last massively marked-up example we'll come across.