Jeepers Cheapers! Jeep Slashing Prices, Adding Content

To combat inflation and a drop in market share in the U.S., the Jeep brand is adding more content and rolling back prices on some of its vehicles, said the new CEO of the global Jeep brand Antonio Filosa. For those who haven't shopped a Jeep lately, the brand's SUVs have become rather pricey, at least compared to many competitors, and its truck- and SUV-only lineup crowded.

Before it was recently discontinued, Jeep's smallest model, the subcompact Renegade, started at just under $30,000, thousands more than similarly sized competitors. The compact Compass—which is larger than the soon-to-die Renegade—was, confusingly, cheaper, while the slightly larger Cherokee (also going leaving the lineup soon) was almost $40,000, way beyond the entry-level Honda CR-Vs and Toyota RAV4s of the world, and, again strangely, about as expensive as the cheapest one-size-up midsize Grand Cherokee you can buy. To address swollen MSRPs and some of that lineup crowding, here's what Jeep has planned after binning the Renegade and Cherokee models:

• The 2024 Jeep Wrangler gets an additional $3,000 worth of content, things like a wider screen, side airbags in the rollbar, power seat upgrades, and relocating the antennae so it is imbedded in the greenhouse.
• The 2024 Jeep Gladiator pickup also gets an additional $3,000 worth of content and starting this week, the price will drop by $1,700. It now starts just under $40,000.
• Jeep Compass pricing will be reduced by $2,500 so that it starts under $26,000 (though when you factor in Jeep's excessive $1,595 destination charges, the true base price is $27,495). This is the entry-level Jeep for North America after the brand discontinues the smaller Jeep Renegade as well as the aforementioned compact Cherokee in the U.S. The subcompact electric Jeep Avenger is for Europe only.
• The 2024 Jeep Grand Cherokee sees its starting price fall by $4,000, to under $40,000, via a new rear-drive-only Laredo A model that is only available in white, the only no-cost paint option on virtually all Jeep models. Its $38,490 price undercuts the next-cheapest Grand Cherokee by a few thousand bucks, but if you're looking for all-wheel-drive in a GC, the least-expensive one you can get is the $43,830 Laredo.

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Jeep Brand Reset

These price adjustments are some of a number of initiatives for the brand that is not living up to its potential and has new leadership in Filosa as well as Bill Peffer who takes over as head of Jeep in North America.

One initiative is greater diversity of powertrains. Stellantis has previously announced plans for more plug-in hybrids, includingthe full-size Grand Wagoneer, which was to get the 4xe treatment in 2024. We also expect the range-extender EV setup in the 2025 Ram 1500 Ramcharger to migrate over to the Wagoneer and Grand Wagoneer. Filosa would not comment on future product plans other than to say he is interested in the technology for the Jeep brand. He says no final decisions have been made and implementation would take 18 to 24 months.

While the range extender that uses a gas engine to run the generator that creates electricity to propel the vehicle is smart technology, its full benefits are realized more in some products more than others—think large vehicles versus small. Owners can take advantage of some EV-only range—about 140 to 150 miles in the Ramcharger pickup—which is enough for most day-to-day use, then rely on the gas-fed generator on longer trips or when towing or hauling, activities we've found precipitously lower the range of electric-only trucks. With the generator onboard, the Ramcharger's total range is estimated at just shy of 700 miles.

Among the other initiatives to jumpstart the brand: Jeep plans to increase its marketing and media spending, streamline dealer programs, and has created a brand cost and quality team that will spend time in the plants and implement customer concerns.

The brand is in transition and needs to grow, says Filosa who has been on the job for 90 days. The region with the most growth potential is North America.