Kia’s EV Lease Future, Toyota Gets White House Nod, Grads Avoiding Tech Companies

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Thursday is here and we’re ready to hit the ground with you as we talk about Kia’s EV leasing strategy as well as a White House meeting with Toyota, and a trend from recent college grads that should have the Auto Industry’s attention.

As Kia of America awaits its 2024 completion of retooling its West Point, GA factory to produce its new EV9, the company is talking about its plans to increase its reliance on EV leasing , from 15 to up to 40%, to capitalize on the $7,500 federal incentive for electric vehicle customers.

• Current EV6 and Niro are shipped from S. Korea along with the EV9 to be released later this year
• Fed credit has a provision that allows the $7,500 to be used as a discount off an EV's price rather than as a tax credit avoiding the ‘made in America’ battery qualification until 2032
• The EV9 will cost just under 80k, the programs limit
• Household income limit is still 150k single and 300k joint
• Benchmarked on a Telluride’s depreciation: 80k new, 19% depreciation, 14,800, monthly pmt 411.11 plus interest and tax. 
• Minus 7500 discount, 14,800 - 7500 = 7300  
• $202 mo payment plus interest and tax

White House senior adviser John Podesta recently met with Toyota officials and confirmed that the automaker is now fully committed to electrification, aiming for 1.5 million EV sales per year by 2026.

• Podesta told a Reuters roundtable, "I think they're going to stick with plug-in hybrids for a while, maybe longer than some of the other companies but they're fully now committed under their new leadership to electrification,"
• Last month, Toyota announced plans to introduce 10 new battery-powered models, targeting sales of 1.5 million EVs annually by 2026
• They currently have only three battery models on the market and sold fewer than 25,000 worldwide last year

A new report from college and new-grad career site, Handshake reveals that Gen Z college graduates are prioritizing stability over big tech companies, as ZERO major tech firms are featured in the top 10 preferred employers. Instead, Gen Z is focusing on organizations like Raytheon, Nike, and Toyota, indicating a shift in job preferences amid tech layoffs.

• Christine Cruzvergara, Handshake’s chief education strategy officer told CNBC that the graduating class is “prioritizing stability, and they’re quite turned off by the volatility they’ve seen in the news around Big Tech,” she continues,“They’re gravitating toward companies that offer solid benefits, career pathing and a level of stability they’ve been looking for.”
• Top 10 are: Raytheon, Nike, Toyota, Lockheed Martin, Chevron, Capital One, Morgan Stanley, Boeing, Bank of America, NASA
• There is also a broad increase in students willing to move to areas that provide opportunities

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

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