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Yeah remember the Corolla passed the Beetle as the best selling nameplate of all time. To this day they are reliable and fairly cheap to run.
Generally, I'd agree, although there have been a couple of disturbing Corolla recalls lately....the latest one being some 1 million 2005-2008 models for an engine-control-module that can cause stalling. This, in addition to the power-stering recall on the '08 models.
But, yes, when you look at the Corolla's entire history (and its Chevy Nova/Geo Prizm offshoots), its reliability has been top-tier.