The 411 on Q1, Hyundai’s Branded Charging, Starbucks CEO Working the Counter

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There is a lot to talk about this Tuesday folks. We cover yesterday's COX Insights report as well as an update from Toyota’s North America CEO. We also talk about Hyundai’s potential new EV charging network, as well as the new Starbucks CEO working shifts at the counter. 

• Yesterday was all about the numbers as Cox Automotive held their Q1 2023 Industry Insights and Sales Forecast Call where affordability, supply, and other factors affected the industry. In a separate meeting, Toyota NA President, Jack Hollis discussed the automakers plans and outlook for another solid year of sales
• Jack Hollis, Toyota NA CEO, predicts very strong demand for their new vehicles throughout the year as well as a new car avg transaction price crossing $50k
• Citing remaining strong used car demand and pricing he said: He said, "The only thing holding us back [as an industry] is the totality of the supply chain and the fragility of it, because we're not back to normal anywhere globally."

• Hyundai is considering launching its own branded electric vehicle (EV) charging network in the US, as part of plans to sell 1.5 million EVs globally by 2030.  Olabisi Boyle, vice president-product planning and mobility strategy for Hyundai Motor North America, said the network would be set up in partnership with other companies
  • The Korean automaker has opened a fast-charging station in Seoul, which includes a cafe and lifestyle store, and has already announced branded stations for the Korean market
  • Tesla is the only manufacturer which owns and operates a robust network of 40k global chargers and are widely known to be more reliable and convenient than other, fragmented options

• New Starbucks CEO Laxman Narasimhan who just started the new role a few weeks ago announced plans to work a half shift in a Starbucks cafe once a month in order to stay in touch with the front line of the business. 
  • He wrote a letter to the company's employees and named them “the artists and the theater in the front of [Starbucks] stores and the factory in the back.” as he said  “health” of the company needs “to be stronger” 
  • In the 6 months leading up to taking the role he earned his barista certificate and visited many stores, farms, and manufacturing facilities
  • The 55 year old Executive, has a degree in mechanical engineering, was Chief Commercial Officer of Pepsi, and speaks six languages; German, English, Spanish, and three Indian dialects

Hosts: Paul J Daly and Kyle Mountsier

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