Electric Cars

Historically, Honda has diligently maintained its brand reputation and strong resale values by concentrating on individual customers, largely avoiding bulk sales to fleet operators. However, the current economic climate is prompting the Japanese automaker to revise its approach. Recent figures show a notable 54% increase in Honda and Acura fleet sales over the initial nine months of the year, totaling 124,485 units. Although this brings the company's fleet penetration to 11%, it still remains below the industry average of approximately 18%.

Instead of merely offloading surplus vehicles to major daily-rental agencies, the manufacturer is intently focused on augmenting the availability of loaner cars for its dealership service centers. Honda has directed nearly five times as many Accord models into fleet usage this year, with roughly 20% of the midsize sedan's sales by September designated for fleet purchasers. This initiative is designed to replenish the used car market with quality vehicles.

This careful engagement with fleet sales represents a clever and well-considered strategy for Honda. When manufacturers heavily rely on conventional corporate rental fleets for vehicle distribution, these cars eventually enter public auctions, which can severely diminish brand residual values and dissatisfy loyal owners. Given that escalating prices are deterring many potential buyers from purchasing new cars, Honda required an inventive method to ensure an affordable inventory without compromising its long-term brand equity. By retaining these fleet vehicles as service loaners, dealerships can offer extensive test drives to service clients, ultimately selling these very same cars on the used market with an appealing 100,000-mile Certified Pre-Owned (CPO) warranty. This forms a self-contained system that fosters brand loyalty while addressing the strong consumer need for economical transport solutions.

This innovative strategy by Honda demonstrates a commitment to adaptability and customer-centric solutions in a challenging market. By strategically cultivating its own supply of pre-owned vehicles, the company not only makes its reliable cars more accessible to a broader range of buyers but also reinforces its brand image through quality and value. This approach ensures that even as market dynamics shift, Honda continues to provide opportunities for individuals to experience the ownership of a dependable vehicle, promoting a cycle of trust and satisfaction that extends beyond the initial purchase.

Experience the Fusion of French Elegance and American Dynamism at Rétromobile NYC

A Global Gathering for Automotive Enthusiasts

Throughout the year, automotive enthusiasts worldwide seek out opportunities to share their passion for vehicles. From casual local gatherings like "Cars and Coffee" on weekend mornings to grand international auto expos showcasing the latest models, the calendar is packed with events. Additionally, exclusive destination events, such as Monterey Car Week and The Quail, draw both emerging car spotters and renowned collectors, serving as significant automotive pilgrimages.

From Parisian Dream to New York Reality: The Genesis of Rétromobile NYC

As a lifelong car enthusiast, a particular event has always been on my radar: Rétromobile, the distinguished annual classic car show in Paris, which recently marked its 50th anniversary. Since 1976, this massive show has been the traditional kick-off for Europe's classic car and auction season, drawing over 181,500 visitors and achieving record-breaking sales, such as the Bugatti Chiron Profilée. While the show's Parisian location previously made regular attendance challenging, this is set to change with Rétromobile's expansion across the Atlantic. The inaugural Rétromobile New York will be held at the Javits Center in Midtown Manhattan from November 19 to 22, featuring a Gooding Christie's auction on the 20th and 21st. I recently spoke with Gérard Neveu, the U.S. CEO of Rétromobile, to learn more about the expectations for this first edition, the reasons behind Rétromobile's move to the U.S., and his vision for making the New York show distinct from its French origins.

New York's Distinctive Automotive Celebration: A Blend of Cultures

Gérard Neveu emphasized that Rétromobile New York will not be a mere replica of its Parisian counterpart. He stated, "I always try to avoid any comparison between Paris and New York. These are two different approaches, two different cultures." His aim is to draw inspiration from the Parisian concept while embracing the unique local car cultures of New York City and the United States. He believes that a uniform Rétromobile experience globally would be uninspiring. Nevertheless, the New York show will share much of its DNA with the French original. Visitors can expect the Javits Center to host leading brokers and dealers displaying some of the world's finest classic cars, along with exhibitions that elevate the event beyond a typical car show. These include diverse exhibitors showcasing artisanal driving gloves, apparel, automotive art galleries, classic watch displays, and private car galleries where owners proudly present their vehicles. Neveu stressed that the show caters to everyone, not just dedicated collectors.

An Impressive Display: The Scope of Rétromobile NYC

This year’s Rétromobile NYC will occupy approximately 400,000 square feet, featuring over 300 cars and 100 motorcycles. Neveu, confident in the lineup, anticipates a spectacular catalog. He also noted that private collectors, some traveling from as far as California, are eagerly participating.

Why New York? Tapping into an Untapped Classic Car Scene

Neveu acknowledged initial warnings that New York wasn't a "car city." However, his time in the city revealed a different reality: a significant concentration of classic cars and collectors within easy reach of Manhattan. He also identified a market void. While Manhattan hosts car and coffee meetups, a major annual auto show, and events like Wheels of NYC, Neveu observed a decades-long absence of a true celebration of classic cars. He believes the city is more vibrant than ever, attracting a wealthy and culturally engaged populace. Collectors expressed enthusiasm for a local event, eliminating the need to travel to distant locations like Pebble Beach or Amelia Island. Neveu also positioned Rétromobile NYC to be more accessible than high-end concours events, with a general admission of $70, making it reachable for a broader audience of car enthusiasts who might otherwise be excluded by prohibitively expensive tickets.

Exhibitions and Collaborations: What to Expect on the Floor

Neveu detailed several exhibitions designed to highlight New York's unique flavor. Rétromobile is collaborating with New York City's CART Department to present an art car exhibit exclusively featuring works by New York artists, including those inspired by Keith Haring, Basquiat, and even the Maybach from Jay-Z and Kanye West's "Otis" video. Additionally, an exclusive gallery will showcase 20 cars from prominent American collectors, representing five key automotive nations: the U.S., Germany, the U.K., France, and Italy. These vehicles, as Neveu describes, are typically seen only at prestigious events like Pebble Beach or Amelia Island. A partnership with the Petersen Automotive Museum in Los Angeles will also bring four Fast & Furious cars to New York for the first time. Local collectors, including New Jersey's Rob Ida with his GM Futurliner, will contribute vehicles from the New York and New Jersey areas. Neveu also noted a distinct difference in American collectors' willingness to share their cars, contrasting with European collectors who tend to be more private. He philosophically views this as an opportunity for cars to tell their stories to a wider audience, much like art collecting.

Jerry Seinfeld's Contribution and American Car Culture

Jerry Seinfeld, a prominent Porsche collector, proactively offered to display some of his vehicles at Rétromobile NYC. Beyond three of his personal Porsches, he will also bring a 1958 Volkswagen T1 Single Cab Pick-Up used to transport his collection, demonstrating a generous spirit of sharing. Neveu characterized American car collectors as "more collective, less individualist," a trait he attributes to how Americans grow up with cars. While he acknowledges the efficiency of public transport in Manhattan, he believes Americans universally appreciate driving, especially on weekends, seeing cars as a symbol of independence from a young age.

Future Growth and Long-Term Vision for Rétromobile NYC

Despite the packed schedule for this year's Rétromobile NYC, Neveu acknowledged the absence of certain elements, such as hot rods, muscle cars, or tuner cars, attributing this to limited space. He plans to incorporate these next year to appeal to younger enthusiasts, believing that a passion for horsepower transcends specific vehicle types. Neveu emphasized a cautious approach for the inaugural year, focusing on establishing a strong foundation with the right atmosphere and emotional impact. He envisions significant growth for next year, aiming for approximately 500 cars and a 25% increase in floor space, with similar expansion rates in subsequent years, utilizing the Javits Center's capacity. Beyond that, he foresees dedicated floors for manufacturers' heritage departments and a market for parts and memorabilia, echoing the flea market spirit of the Parisian Rétromobile. Neveu highlighted the learning process, gathering feedback from all stakeholders—Javits Center, contractors, exhibitors, and visitors—to refine future events. He compared the long-term vision for Rétromobile NYC to the evolution of the U.S. Open, transforming from a modest beginning into a world-renowned tennis tournament. He believes the vast number of collections, cars, and stories in America could fill the Javits Center for the next decade, with the ultimate goal of creating an experience that leaves everyone saying "wow" and eager for the next year.