Cost Reductions Add Appeal to the 2024 Jeep Grand Cherokee Lineup

Photo Source: Jeep

Admittedly, new vehicles are more expensive than ever. There is one exception, though: the Jeep Grand Cherokee. In a rare twist, the automaker has taken a massive red pen to the bottom line of most Grand Cherokee trim levels for the 2024 model year. Customers can expect a $2,000 year-over-year price drop on low and mid-range trims, a $3,500 discount for the Limited, and a $4,000 cut for the Summit trim. Step up to the top-tier Summit Reserve and the price drop is even larger – $4,595. 

That means the most expensive Grand Cherokee trim now has a starting price tag under $70,000 MSRP, even after the $1,795 destination fee. It is worth mentioning the same slash in price applies to the three-row Summit Reserve, even though it clocks in at a few bucks over $70,000 MSRP. The price cuts apply to three-row trims throughout the lineup, as well as those with an option of two-wheel or four-wheel drive. Indeed, the only Grand Cherokee trims not experiencing a price drop are the introductory-level Laredo A and the hybrid 4xe variants.

What are the 2024 Jeep Grand Cherokee Price Drops?

Below is a price breakdown of 2024 Grand Cherokee trims and the year-over-year price alterations. To that end, all prices incorporate the manufacturer’s $1,795 destination charge and denote a two-wheel drive, two-row trim unless otherwise indicated. Of note, Overland and Summit trims are only offered with four-wheel drive for 2024, so 2023 four-wheel drive pricing is utilized to have an apples-to-apples comparison. Beyond that, add $2,000 for four-wheel drive and another $2,000 for a three-row Grand Cherokee L. If buyers select the Laredo trim, they will just have to pay $1,750 to receive an additional row.

Jeep’s Assessment

Experts contacted Jeep to ask about the significant price cuts, a stark contrast to conventional year-over-year price changes. Such modifications typically increase rather than decrease. A company spokesperson provided the following statement:

“We know consumers are grappling with the rising costs of inflation. In response, the Jeep brand is taking the opportunity to add content and value to its award-winning lineup, while at the same time rolling back starting U.S. MSRPs on some of our most popular models, like the 2024 Jeep Grand Cherokee. At the Jeep brand, we will continue to strive to deliver the best, most capable SUVs and pickups to our customers.”

–William Peffer, senior vice president and head of Jeep brand in North America

Get the Best Bang for Your Buck with a 2024 Jeep Grand Cherokee from Cape Coral Chrysler Dodge Jeep Ram!

As mentioned, what is unusual in this scenario is that buyers are used to seeing car prices go up over time, not down. Thus, the moves could help make the 2024 Jeep Grand Cherokee an even better seller. For example, last year (2023), the brand sold 61,723 Grand Cherokee SUVs, 22 percent more than the previous year and more than double the amount of its number-two seller, the Wrangler.

If the price cuts of the Grand Cherokee have piqued your interest, please come visit Cape Coral Chrysler Dodge Jeep Ram, where we are all about helping our customers enjoy their shopping experience. We have a friendly and passionate sales team that will make your buying, leasing, or selling needs easy for any of our new vehicle inventory.