Has Toyota made the Corolla cool again?

The Toyota Corolla Hatchback FX has been launched in the US as an 80s inspired hatchback, complete with a spoiler and white wheels.

Directly inspired by the Corolla FX16 – closely related to the Corolla Twin Cam sold in Australia – the new Hatchback FX is based on the entry-level Corolla SE grade available in the US, rather than the mid-spec Nightshade or better-equipped XSE.

Compared to the base model, the FX gets a black spoiler, gloss white 18-inch wheels with black wheel nuts, as well as an FX16-inspired rear badge.

Inside, changes include black Sport Touring Seats with suede inserts, while there’s also orange contrast stitching on the seats, door panels, steering wheel and gear shifter boot.

Buyers get the choice of three exterior finishes: Inferno, Ice Cap, and Blue Crush Metallic.

Unfortunately the Hatchback FX doesn’t get any more power, with its naturally aspirated 2.0-litre four-cylinder engine producing 126kW and 205Nm, driving the front wheels via a continuously variable transmission.

The Hatchback FX isn’t available as a more powerful hybrid, which is the only powertrain available to Australian Corolla customers.

Just 1600 examples will be available for US buyers, reflecting the legendary 1600cc 4AGE engine which powered the original FX16, as well as its Australian Corolla Twin Cam counterpart.

The 4AGE also went on to power the later Corolla SX in Australia, and was also found under the bonnet of the rear-wheel drive AE86, which later inspired the 86 and GR86 coupes.

Toyota US is yet to announce a price for the Corolla Hatchback FX, however the SE starts from US$23,780 (A$36,530) before taxes and on-road costs.

In the US, the high performance all-wheel drive GR Corolla is priced from US$38,860 (A$59,700) before on-road costs.