Toyota’s next Matrix will not be named the Matrix. The automaker is going to target the Mazda 3 five-door for the new car. It will still be based off the Corolla platform, but will adopt the name "Blade" that is currently used in Japan.
The car is also rumored to get more power too. Most likely the 2.4L 4-cyl that they are putting in the new Scion xB.
Hopefully the new car will look much better than the current Matrix.