I've driven it for 11 months now. 2 months after the purchase power steering started leaking. I had to replace rack and pinion. Acceleration is very slow, but the car maintains the speed pretty well. My fuel economy is about 30 mpg with 80/20 highway/city driving. Because of the awkward rear design, I find it hard to see what's in the back while parallel-parking. The turning angles are too sharp for the car this size. This car also lacks folding mirrors and power seats. Anyways, I think Corolla is a good entry-level car to drive short distances in the urban environment.
Folding mirrors, power seats, exterior design is bland.