President Mujica, known as the most austere and poorest president in the world, made the disclosure to an Uruguayan weekly, Busqueda.
Mujica said that if he got $1 million for the car, he would donate the money to a housing for the homeless programme he supports.
AP reports that in an informal chat, Mexico's ambassador to Uruguay recently suggested to Mujica that he auction the Beetle in Mexico and predicted he could get 10 four-wheel-drive trucks for it.
And if he got trucks, Mujica, who said he has no commitment to cars, stated that the trucks could go to Uruguay's public health office or his campaign workers.
Mujica got world wide acclaim when he became Uruguay's president in 2010 and declared that his entire wealth amounted to the 1987 Beetle. He has been earning $11,000 a month as president, donating 20 percent to his political movement. Earlier this year he put his total wealth at $322,883, with the flower farm reportedly worth $108,000.
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