CES Prepares To Launch, Honda Dropping $14B, Millennials Become Their Parents

Shoot us a Text.

This Monday has that ‘new car smell’ as we give a CES preview to start off. We also cover a ginormous investment being mulled by Honda, as well as a Millennial trend that will require more cars.

As the Consumer Electronics Show readies to open its doors tomorrow in Las Vegas, there are several things the auto industry is keeping its eyes on. 

• First, there is a glaring difference between auto industry participation from last year to this, as the big three and many other automakers have opted out. 
• Hyundai will be turning its focus to revealing its Vertiport
• Vinfast, who has been making news as it launches its Dealer network will be revealing 2 vehicles which may be coming to the US; a 20k VF3 Microcar as well as a pickup the company is calling their “latest electric vehicle concept” which the company says will reach production
• Auto suppliers are in full force revealing many new products focusing on tech deployment in vehicles such as AI enabled cameras and sensors
• Automotive News Exec Editor Jamie Butters says there is something to learn from CES leveraging new advancements to draw consumers in as auto shows across the country struggle to attract OEMs and visitors
• BTW, you can pick up your CES badge right at the airport…

Starting off with a relatively measured approach in the EV race, Honda is coming to life as they are considering a massive $14 billion investment in an EV and battery plant in Canada near its Alliston, Ontario factory., aiming to bolster its presence in North America

• The proposed plant, expected to start production in 2028, would be Honda's second EV facility in North America.
• Canada's attractive incentives for EV investments, including tax breaks and renewable resources, are drawing major players like Honda
• Recently Volkswagen and its battery company PowerCo are working on building a gigafactory in St. Thomas, Ontario, slated to start production in 2027.
• Honda's partnership with LG Energy Solution in Ohio and plans to convert existing plants to begin manufacturing its new e:architecture platform

According to new data, Millennials, once the driving force behind urban revitalization, are increasingly being priced out of cities and relocating to suburbs, reshaping both urban and suburban landscapes in their search for affordable living.

• Millennials are moving to suburbs due to high costs in urban areas, despite their preference for city amenities.
• The Suburban Jungle Group, a firm who helps NYC residents move to the suburbs reports a surge in calls from millennials, alarmed by soaring rents in New York City, facing rent increases up to 30% or more upon lease renewal.
• As one shopper puts it, “Drive until you qualify.”

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.

Get the Daily Push Back email at https://www.asotu.com/

JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/