A 2-door coupé model was added to the third-generation Corona in July 1965, becoming the first Japanese-made car to adopt the hardtop styling that was popular in the U.S. Its major selling points were the pillarless side windows that gave the car an open and spacious feel, and the sleek 2-door coupé styling with a roofline 45 mm lower than that of the sedan. The novel side view of the coupé attracted considerable attention on the streets of Japan where utility vehicles were still dominant.

The standard model came with a 1,490 cc 70 PS engine (2R), while the 1600S sports model featured a 1,587 cc 90 PS twin SU carburetor engine (4R) with an optional front-wheel disc brakes. The front seats were separate, and the backrests of the rear seats could be folded to expand the luggage space. The 1,500 cc model had a rectangular instrument panel and a column shifter (the same combination as that of the sedan), whereas the 1600S model featured four circular meters (including a tachometer) and a 4-speed floor shifter. In July 1966, a floor shifter was also made available to the 1,500 cc model.