by Jeep Corrects Past Mistakes
In recent years, Jeep has lost a significant portion of the market – from 973 thousand vehicles sold in 2018 to 587 thousand in 2024. The main reasons are price increases and the discontinuation of popular models, which allowed competitors like Ford with their Bronco lineup to lure away customers.
As an example, the base version of the Cherokee increased in price from $28,135 to $33,995 over two years, and the Renegade in 2023 started at $30,490. Jeep CEO Bob Broderdorf stated:
We have adjusted prices on all models except the Wrangler to correct past mistakes and eliminate our “pricing problem.”
New Pricing Policy
The company significantly reduced prices: the Wagoneer now starts at $59,945 instead of $62,945, and the flagship Grand Wagoneer dropped from $91,945 to $84,945. However, the problem is not yet fully resolved – the new electric Wagoneer S starts at $65,200, which is $10,000 more expensive than its competitor, the Ford Mustang Mach-E GT.
Dealers have already started significantly reducing prices to sell off inventory. For example, the Wagoneer S Limited model with a price of $67,590 is now offered for $38,340.
Brand Prospects
Despite economic uncertainty, Jeep is preparing a major update to its lineup. The Gladiator and Wrangler have already received a facelift, with new versions of the Grand Cherokee and Wagoneer expected. The Cherokee is set to return by the end of the year, and the electric off-roader Recon will debut in November.
Recent changes in Jeep’s strategy show that the company is trying to regain lost ground, but competition in the SUV market remains extremely fierce. The success of new models, especially electric ones, will largely determine the brand’s future in the face of growing popularity of alternative vehicles.
