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CBT Automotive Newscast: September 4, 2020

Today’s Featured Interview:

GoJo Auto Owner Amanda Gordon on Becoming the First African-American Woman to be a Licensed Dealer in Colorado
The vehicle purchase process can be a daunting one for many consumers, but one used independent car dealer has made it her mission to change that with the “GoJo Experience”. Amanda Gordon, Owner of GoJo Auto is talking to us about her efforts and what’s next for her dealership. Watch the full segment here.

Top Headlines:

It’s been nearly 30 years since Jeep discontinued the Grand Wagoneer full-size SUV and now it’s making its return. Jeep unveiled the new Grand Wagoneer concept Thursday morning on their Youtube channel. The revitalized model brings a combination of new technology paired with sweet nostalgia. The production model is scheduled to hit the road in 2021. In addition to the Grand Wagoneer, Jeep also debuted the Jeep Wrangler 4xE (four by e) hybrid. The new Wrangler is the first off-road centric SUV to claim that electric power will make it more capable off-road.

General Motors and Honda are joining forces. The two auto giants are forming an alliance in North America to sell a large range of vehicles under each company’s distinct brands. The alliance will also allow the groups to cooperate in purchasing, research, development, and connected services.

Mercedes-Benz unveiled its new flagship S-Class sedan. The new luxury sedan is considered very important in the strategy of Daimler as the profits are expected to help in the company’s COVID-19 recovery. Profits will also be used to finance investments in new, low-emissions technology.

Tesla shares slid for the third day in a row. With Thursday’s decline, the EV maker’s stock is 18% below Monday’s close. On Wednesday, Tesla’s largest outside shareholder, investment company Baillie Gifford, said that it was reducing its position in the company from 6.3% to less than 5%. The firm said it intends to remain a shareholder of Tesla and that selling a portion of its share was due to portfolio restrictions. While Tesla’s slide doesn’t make a huge dent in the 400% surge in 2020, it does indicate a brief loss in momentum.

News Stories & Opinion:

autoExpert Predicts Two-Year Auto Recovery, Impact Not as Severe as Expected According to Carla Bailo, the President and CEO of the Center for Automotive Research, it can be expected to take two years for auto sales and production levels to return to pre-COVID levels. Bailo’s comments were made during a legislative hearing in Lansing, Michigan on September 2nd. Read More

LithiaLithia Motors Purchases Remaining John Eagle Dealerships
Last month, Lithia Motors announced it had purchased four John Eagle dealerships including John Eagle Honda of Dallas, Honda Cars of Rockwall, Howdy Honda of Austin, and John Eagle Sports City Toyota. That purchase was reportedly projected to “add $500 million in annualized revenues and bring Lithia’s network expansion to over $1 billion in revenue thus far in 2020.” Now, Lithia has announced that it has continued its expansion with the purchase of the remaining six John Eagle Dealerships throughout the state of Texas. Read More

Did you enjoy today’s automotive newscast? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at

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For over 11 years, CBT News has been informing and helping automotive retail professionals grow their businesses and thrive in their careers through an awarding-winning, on-demand streaming platform. With exclusive interviews featuring the biggest names in the industry, daily newscasts, up-to-date market data, and exclusive articles covering the latest trends, CBT News is your #1 source for auto industry news and content.

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