You can buy a Toyota Corolla or Fortuner by paying corn in this country1 min read . Updated: 06 Aug 2021, 02:02 PM IST
Toyota is accepting corn and soybeans as payments instead of money from rural buyers in Brazil for select models.
Toyota would be the first carmaker in history to take payment for its vehicles in corn or soybean, instead of money. Yes, it might sound unusual but that is what is going to happen in Brazil, reports Motor1.
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The Japanese auto giant has announced this new and interesting direct sales channel in the Latin American country. The scheme is focused on the customers in the agriculture sector. For the rest of the consumers, the Toyota vehicles will be available through the conventional sales method.
Toyota claims that the agribusiness sector currently accounts for 16% of its direct sales in Brazil. This new program is expected to help it grow further.
Termed as 'Toyota Barter', the scheme will allow the customers to pay for corn and soybean in exchange for a new vehicle. The consumers have to pay the amount of the price of the vehicle by the weight of corn or soybean. The price of corn or soybean must be the same as the vehicle price.
Toyota models like Hilux pickup truck, Corolla Cross SUV, or SW4 SV can be purchased under this scheme. The SW4 is basically the Toyota Fortuner available in India.
There is a catch though. Toyota will check if the consumer is certified for rural production and the agri-products are from sustainable plantations and of good quality.
Toyota Barter is not exactly a new program from the Japanese car brand. It was first intoduced back in 2019 as a pilot project. Now, the carmaker has made this unique sales method official. Currently, this program is available in select states of Brazil. These include - Bahia, Goiás, Mato Grosso, Minas Gerais, Piauí and Tocantins. The automaker is planning to expand the service to the entire country.