The CoRoT faint stars channel observed about 163 600 targets to detect transiting planetary companions. Because CoRoT targets are faint (11< r <16) and close to the galactic plane, only a small subsample has been observed spectroscopically. We describe the latest classification scheme used to derive the spectral type of CoRoT targets, which is based on broadband multi-colour photometry. We assess the accuracy of this spectral classification for the first time. We find that the classification method performs better for stars that were observed during the mission-dedicated photometric ground-based campaigns.The luminosity class is wrong for less than 7% of the targets. Generally, the effective temperature of stars classified as early type (O, B, and A) is overestimated. Conversely, the temperature of stars classified as later type tends to be underestimated. This is mainly due to the adverse effect of interstellar reddening. We find that the median error on the effective temperature is less than 5% for dwarf stars classified with a spectral later than F0, but it is worse for earlier type stars, with up to 20% error for A and late-B dwarfs, and up to 70% for early-B and O-type dwarfs. Similar results are found for giants, with a median error that is lower than 7% for G- and later type giants, but greater than 25% for earlier types. Overall, we find an average median absolute temperature difference |Delta Teff| = 533+-6 K for the whole sample of stars classified as dwarfs and |Delta Teff| = 280+-3 K for the whole sample of giant stars. The corresponding standard deviation is of about 92+-5 K for dwarfs and 304+-4 K for giants. Typically for late-type stars, this means that the classification is accurate to about half a class.
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