Japanese automaker Toyota is accepting corn and soys from farmers as payment for Hilux pickup, Fortuner SUV and Corolla in Brazil.
The trading program, named Toyota Barter, has been on since 2019 in Brazil known as the biggest soybean producer in the world.
Brazil is the biggest soybean producer in the world, and with less credit and cash around, Toyota says it will allow farmers to trade corn for a brand new Toyota Hilux Pickup Truck.
The trading program, named Toyota Barter, has been on since 2019. It allows grains, including corn and soy, as payment not just for the Hilux, but also for Corolla Cross and the SW4 (Fortuner).
According to Toyota Brazil, sixteen percent (16%) of its direct sales go to the agricultural industry. But manager for direct sales in Brazil, José Luis Rincon Bruno, said that the Toyota wants more.
“Toyota Barter started as a pilot program in 2019, and as such, is the first sales channel in Brazil to accept grain when purchasing an automobile.
We now have the chance to make the program official for the agricultural industry and to grow Toyota’s presence while giving back to one of the main economic sectors in our country”
Toyota uses a third party company, NovaAgri, to make sure that farmers who intends to trade their products for cars are farming legally and sustainably. Once this is ascertained, the corn or soy is taken as payment, and the car of choice is delivered.
NovaAgri said that through Toyota Barter, Toyota has “been able to provide a unique sales program for farmers who’ve always considered the Hilux as a personal or business goal.”