For 2004, the Toyota Matrix saw only a few changes, including the availability of an in-dash CD player in the standard and XR models, and the availability of a navigation system in the XRS. The XRS engine also saw a slight decrease in horsepower.

The 2004 Toyota Matrix is available in three trim levels: the standard, the XR, and the XRS. The standard and the XR share the same engine with the Corolla, a 1.8-liter, four-cylinder with 130 horses. All-wheel drive knocks the horsepower down to 123, while the XRS gets 170 horses. Upgrading to the XR gets power windows, mirrors, and locks; a remote key fob; and a rear wiper, while the top-of-the-line XRS comes with 16-inch alloy wheels, anti-lock breaks, and a six-speed manual transmission. The XRS is available only in front-wheel drive. Fuel economy is about 29-34 miles per gallon.

Drivers like the 2004 Matrix for its style, cargo space, and gas mileage. They also appreciate that old reliable Toyota is trying something new with the Matrix. Owners frequently complain about dash gauge readability and a lack of engine power (except in the XRS. Shorter drivers also say that there is poor visibility to the sides and rear