The new pricing is good news for those looking to upgrade in 2024.
Jeep is aiming to help fight inflation by cutting the MSRP of the Grand Cherokee - which had minor updates for the 2024 model year - for both the two-row and three-row L variants.
The Grand Cherokee Laredo received a $2,000 price reduction, while the Limited trim had a $3,500 price cut. The pricier and more premium Overland and Summit trims have seen pricing reduced by $4,000.
As a result, the 2024 Jeep Grand Cherokee Laredo starts at $38,035 (from a previous MSRP of $40,035), with the three-row version priced at $40,035 (from $42,035). The new base price undercuts the 2024 Ford Explorer XLT and Toyota Highlander LE priced at $38,670 and $39,270, respectively.
The top-of-the-line Grand Cherokee Summit 4x4 two-row and three-row start at $62,560 and $64,560, respectively. Meanwhile, there are no price movements seen for the Grand Cherokee 4xe plug-in hybrid.
With the price update, we can expect more consumers will be enticed to consider a Jeep Grand Cherokee, the company's best-seller in the US. Last year, the nameplate sold 61,723 units, which is 22% more compared to the previous year. In contrast, the Jeep Renegade is being dropped after the 2023 model year due to underwhelming sales.
Elsewhere, the Gladiator recently saw a price reduction, too, dropping below $40,000 for the new model year.
It's worth noting that nobody does anything for free, and while there have been notable price cuts across several models, these have come with the loss of last month's 10% off promotions, reports CarsDirect, which means that pricing may be similar to what it already was in some areas. Still, we're not ones to look a gift horse in the mouth, and any news about lower pricing is to be celebrated.
With the electric Wagoneer S arriving in the fall, we wouldn't be surprised to see more discounts across the Jeep range in the coming months, helping make room for new EV inventory.