The phrase references a specific automobile: a Toyota Corolla manufactured in 1974, currently available for purchase. This refers to the market for a vehicle of a particular make, model, and year that someone is offering to sell.
The significance of such a listing stems from several factors. Classic car enthusiasts, collectors, or individuals seeking affordable transportation may find these listings. Their condition, originality, and historical relevance contribute to their value. The vehicles represent a snapshot of automotive engineering and design from that era, and owning one connects the buyer to that history.