The third-generation Toyota Corona (T40/T50 series) ran from 1964 to 1970 and was instrumental in Toyota's global expansion. Its simple, robust construction and clean styling helped it gain a foothold in export markets, particularly the United States. Offered as a sedan, hardtop coupe, and wagon, it was powered by a durable 1.5L 2R or 1.6L 7R inline-4 engine, establishing the brand's reputation for reliability long before the Corolla.
Collectors are drawn to the 3rd-gen Corona for its classic 1960s design and mechanical simplicity. Unlike later Japanese classics sought for performance, the Corona's appeal lies in its historical significance and charming, utilitarian character. It's a very accessible classic that's easy to own and maintain, provided you can find a solid, rust-free example.
The market for these Coronas is small but steady, with an average transaction price around $7,600. Prices don't vary wildly between body styles, but they are highly dependent on condition and originality. Well-preserved, low-mileage cars command prices up to $14,700, while running projects can be found for under $3,000, making it an affordable entry into the vintage Japanese car scene.
Buying Tips
- Rust is the biggest enemy. Thoroughly inspect the rocker panels, floor pans, lower fenders, and around the front and rear windscreens.
- The R-series engines are tough but can consume oil. Look for excessive blue smoke from the exhaust on startup and under acceleration.
- Check for the availability of rubber seals, lenses, and chrome trim. These specific parts are becoming very difficult to source.
- Test all electrical components. After 50+ years, wiring can become brittle, leading to intermittent issues with lights, gauges, and switches.
- The 2-speed Toyoglide automatic can feel sluggish. It's a durable unit, but make sure it shifts smoothly without hesitation or harshness.
Based on sales data, prices range from approximately $2,700 for project cars to nearly $14,700 for top-condition examples.
48 Toyota Corona 3rd Gen vehicles have been tracked across auctions and listings on Hypercars, with 8 currently live. Sold prices range from $1,296 to $20,000.
Data sourced from Bring a Trailer, Cars & Bids, eBay Motors, PCarMarket, and Collecting Cars. Updated daily.
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