We’ve gotten used to price increases on new cars, to the point where it feels like “the new normal”. A constant state of vehicles is becoming ever more expensive, and with it, the monthly payments to lease or finance these vehicles. But, in a rare twist, the 2024 Jeep Grand Cherokee is now cheaper than the previous model year. This is a welcome about-face to inflation, MSRP increases, and drawn out financing programs.
2024 Jeep Grand Cherokee Price Cut: Details
Jeep has reduced the price of most 2024 Grand Cherokee trims by as much as $4,595, and that’s a pretty big deal. Customers can expect a $2,000 year-over-year price drop on low and midrange trims, a $3,500 discount for Limited, and a $4,000 cut for the Summit trim, as for the range-topping Summit Reserve, which comes to the aforementioned $4,595 reduction in price. That means the most expensive Grand Cherokee trim starts at under $70,000, even after adding the $1,795 destination charge. That also means the three-row Summit Reserve receives this price cut, though it costs a few bucks over $70,000.
The price cuts apply to three-row Grand Cherokee L models across the lineup and those with a choice of either two-wheel or four-wheel drive. The only Grand Cherokee trims not getting a red pen to the bottom line are the entry-level Lardo A and the hybrid 4xe versions. Here’s the price breakdown for all the trims, excluding the 4xe, including the $1,795 destination charge.
- Laredo A (2wd 2-row only) – $38,290 (2023) – $38,290 (2024)
- Laredo – $42,425 (2023) – $40,425 (2024)
- Laredo X – $43,175 (2023) – $41,175 (2024)
- Altitude – $46,435 (2023) – $44,435 (2024)
- Altitude X – $47,530 (2023) – $45,530 (2024)
- Limited – $51,795 (2023) – $48,295 (2024)
- Overland (4WD) – $67,385 (2023) – $63,385 (2024)
- Summit (4WD) – $68,950 (2023) – $64,950 (2024)
- Summit Reserve (4WD) – $73,430 (2023) – $68,835 (2024)
The Jeep Grand Cherokee won’t be the only model to receive a price reduction. According to a statement given to Motor1, Jeep CEO William Peffer has revealed that the brand will be cutting prices for its most popular models, including the 2024 Jeep Grand Cherokee. More affordable pricing for Jeep products could very well be on the way. These price cuts are the brand’s response to consumers’ current struggle with rising costs amid inflation.
