IYHO - Is Herbie the Love Bug a Sci-Fi/Fantasy Movie?

It certainly has a fantastical element to it but I wouldn't go so far as to call it fantasy or sci fi

Ronald Reagan was president the last time I saw it, did they ever explain what the deal with Herbie was?

Science experiment? possessed by a ghost? Sentient alien?
I googled it, and according to Wikipedia, well...

"Hank Cooper (Bruce Campbell) becomes the owner of Herbie in The Love Bug, the 1997 made-for-television movie. In it, it's revealed Herbie was created by a German engineer named Dr. Gustav Stumpfel. As he was building Herbie a picture of Dr. Stumpfel's wife fell into a vat of molten metal, giving Herbie life."

Ummm.