DaimlerChrysler AG has introduced a programme allowing Argentine car buyers to pay for vehicles with harvested grains in an effort to stem falling vehicle sales, the Wall Street Journal reported in its online edition.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The “Grain Plan” will allow customers to use grains as payment-in-kind for the Mercedes-Benz, Chrysler, Jeep and Dodge vehicles the company markets in South America’s second-largest economy, the report said.
According to the report, DaimlerChrysler will sell the grains that it collects to farm commodity exporter Louis Dreyfus & Co. at current market prices.
Other car makers, including General Motors and Toyota already have turned to more bushel and grain transactions instead of cash or credit, hoping that they can move more vehicles from dealership showrooms, the report added.
