The 2014 Toyota Corolla makes its official debut. A hatchback version could be in the offing.

Toyota is contemplating the option of adding a five-door hatchback version of the all-new 2014 Toyota Corolla in an effort to attract more of the younger buyers the Japanese giant has been struggling to win over.

While the ideas has been discussed inside the company in some detail, senior Toyota executives in the United States and Japan have not yet signed off on the project, officials cautioned TheDetroitBureau.com.

“Nothing is envisioned,” at this point, said Shinici Yasui, the chief engineer responsible for the Corolla, the sedan version of which has gone through a complete redesign for the 2014 model-year.

Nonetheless, Yasui indicated that Toyota was concerned about the opinions of younger buyers who have been showing a renewed interest in hatchbacks – a body style particularly popular in both Europe and Japan. And a few key models, such as the hot-selling Chevrolet Sonic and Spark, as well as the Ford Fiesta, have shown the potential for bringing three- and five-door body styles to the U.S.

“Corolla’s new design theme was “Iconic Dynamism,” which is functionally sound design direction that has an immediate, dynamic impression and reflects an image relatable to younger drivers,” the project leader said.

So, while for now, Toyota has opted to stick with the sedan style for the new Corolla — which is due in showrooms next month—he said the idea of a hatchback isn’t exactly dead and buried.

(Click Here to check out TheDetroitBureau.com’s review of the 2014 Toyota Corolla.)

Adding extra body styles is becoming a way of life across the industry. And that’s a trend Toyota is concerned about as it struggles to connect with the younger buyers who it needs to supplant aging Baby Boomers.  Millennials and Gen-Xers, particularly young male buyers, have been drifting away from Toyota in recent years and the Japanese auto giant is eager to get them back.

“We expect the Corolla to inspire a new generation of young buyers, who are passionate, creative entrepreneurs under the age of 35. The Corolla will help them as they get a new job, buy their first house, or start a business on the side” said Jim Colon, Toyota Motor Sales vice president of marketing communications, who also acknowledged the market for small cars has become much more competitive.

(Toyota counting on Corolla to boost sales. Click Here for that story.)

The average age of buyers for the 11th generation Corolla is expected to be well into the 50s. However, if Toyota’s management sees they are not attracting the young, male buyers, the plans for a hatchback version of the Corolla could be put on the front burner.

Toyota sells a range of hatchback type models in the Prius family but the Prius is traditionally more expensive than the Corolla, which remains Toyota’s most popular model after the midsize Camry. Both Colon and Yasui said the Corolla remains critical to the company.

Toyota is hoping to boost sales of the Corolla as the new model rolls out and has raised its sales forecast for the sedan version by roughly 8% next year to around 330,000 units. The Corolla is being built in two plants in North America, including one in Cambridge, Ontario, as well as at a new Toyota factory in Blue Springs, Mississippi.

(Despite strong sales and profits, is Toyota on the defensive? Click Here to find out why.)