The Toyota Corolla is a line of subcompact and compact cars manufactured by the Japanese automaker Toyota, which has become very popular throughout the world since the nameplate was first introduced in 1966. In 1997, the Corolla became the best selling nameplate in the world, with over 35 million sold as of 2007, surpassing the Volkswagen Beetle. Over the past 40 years, one Corolla car has been sold on average every 40 seconds. The series has undergone several major redesigns. The Corolla's chassis designation code is "E", as described in Toyota's chassis and engine codes.