I tried porting the model to SFM and got this error:

Binding uncached material "potterywheelpanelwireframe", artificially incrementing refcount
MDLCache: Failed load of .VVD data for sentry/ae86.mdl
CAnimationSetEditor::CreateAnimationSetForModel: model has no facial animation model models/1985-toyota-corolla/sentry/ae86.mdl [sentry/ae86.mdl]
Binding uncached material "__utilwireframe", artificially incrementing refcount

I'm sure I followed the procedure correctly, so I have no idea on where I messed up. All the files should be in the specified folders.