USHCC Names Toyota Corporation of the Year
Supplier diversity. It’s probably not a phrase that enters into most of our minds when purchasing a new automobile, but it’s one of the more important things Toyota accomplishes. And today, supplier diversity is being celebrated by the U.S. Hispanic Chamber of Commerce (USHCC), which has selected Toyota as their “Corporation of the Year.”
“Toyota has been a proud supporter of the work of USHCC and its mission for 24 years. Being recognized as Corporation of the Year is a very special distinction that serves to propel our work in supplier diversity even further,” said Patricia Salas Pineda, group vice president of Toyota’s Hispanic Business Strategy Group.
See, there’s that catchphrase again: supplier diversity. So what exactly does it mean? Well, in Toyota’s case, it means they have contracted at least a billion dollars with Hispanic-owned companies. And as long as we’re talking about supplier diversity, it should also be noted that Toyota is a founding member of the Billion Dollar Roundtable, a group that recognizes the efforts of corporations who spend over a billion dollars with women and minority owned suppliers.
Perhaps it’s no coincidence that Toyota is the number one selling automotive brand in the Hispanic market, and it has been for ten consecutive years. We can’t definitively say such a commitment to supplier diversity is the reason Toyota sales are so high within the segment, but we can say that Toyota plans on continuing such a commitment.
“We will continue our tradition of engaging with Hispanic-owned firms to establish the kinds of partnerships that help businesses flourish,” said Pineda.
Sounds like good business to us. Congratulations, Toyota, keep up the good work.
