2024 Jeep Grand Cherokee Prices Cut By Up To $4,000

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Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Senior Pricing Analyst - February 9, 2024
2024 Jeep Grand Cherokee 2-row SUV front view

Jeep is lowering prices for its most popular model in a mid-year change. According to a letter recently sent to dealers, 2024 Jeep Grand Cherokee prices are being cut by as much as $4,000. A Jeep spokesperson confirmed the changes to CarsDirect today via email, citing a move to help Americans struggling with inflation.

On January 31st, 2024 Jeep Grand Cherokee Laredo prices were cut by $2,000, with $3,500 price cuts on Limited trims. At the top of the range, Grand Cherokee Overland and Summit trims both benefit from $4,000 price cuts. The changes affect 2-row Grand Cherokee and 3-row Grand Cherokee L variants of the SUV.

2024 Jeep Grand Cherokee 2-row rear view

Bill Peffer, Head of Jeep Brand North America, had this to say to us:

“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."

Peffer did not elaborate on which other Jeep models are affected. The changes were first reported by TikTok creator Zach Shefska, who noted that Grand Cherokee plug-in hybrids are unaffected. The 2024 Grand Cherokee 4xe starts at $60,490 excluding destination and before a $3,750 federal tax credit.

Jeep Grand Cherokee Price Cut 2024

With the price cut, the 2024 Grand Cherokee Laredo starts at $38,035, $2,000 less than the previous MSRP of $40,035. The 3-row version is now priced at $40,035 (previously $42,035). At that price, the cheapest Laredo trim now undercuts the 2024 Ford Explorer XLT ($38,670) and the Toyota Highlander LE ($39,270).

What's unusual here is that we're used to seeing car prices go up over time, not down. As a result, the moves could help make the Grand Cherokee an even better seller. Last year, Jeep sold 61,723 Grand Cherokees, 22% more than the previous year and more than double the amount of its number-two seller, the Wrangler.

Having said that, our analysis found that Jeep may have opted to take away Grand Cherokee rebates in favor of lower MSRPs. Last month, our records indicate that some Grand Cherokees had a promotion involving 10% off MSRP. Now, they don't. This type of change could negate the impact of the price cuts on consumers.

Editor's Note 2/10/24: Added correct quote attribution.

Sources: Jeep, TikTok creator zachshefska

Explore Jeep Grand Cherokee Prices & Deals

, Senior Pricing Analyst

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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