Toyota Brazil will now barter a SUV or a pickup in exchange of soybeans or maize
Toyota has launched a new programme in Brazil called "Toyota Barter," in which consumers may trade soybeans or maize for a new Toyota SUV or pickup vehicle.
Toyota launched this alternate payment method on the 4th of August, in Brazil. The scheme was created to attract more agri-business clients to Toyota by allowing them to trade in their soybean or maize for a new Toyota Hilux pickup truck, Toyota Fortuner, or Toyota Corolla Cross SUV.
Corn and soybeans will be bartered according to market prices (basis the weight of the produce). Toyota will conduct thorough research into the rural production of these crops in order to assure long-term plantings and a high level of quality.
The new retail model was first implemented in the states of Bahia, Mato Grosso, Goiás, Minas Gerais, Piau, and Tocantins in Brazil. This programme is intended to help buyers in states like Paraná, Sao Paulo, and Mato Grosso do Sul in the near future.
While a payment system like this is unlikely to be implemented in India, Toyota is gearing up to debut its version of the Maruti Suzuki Ciaz (dubbed the Toyota Belta) and its version of the Maruti Suzuki Ertiga. In the next months, Toyota is scheduled to debut the Toyota Hilux pickup truck in India.
José Luis Rincon Bruno, direct sales manager at Toyota Brazil commented "The Toyota Barter started as a pilot project in 2019, so it was the first sales channel in Brazil to accept grain to purchase a car. Now, we have the opportunity to make this facility official for agri-business and expand Toyota's presence and contribute in an important way to what is one of the main economic sectors of our country".
The agricultural sector of Brazil accounts for 16 percent of Toyota's direct sales.
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