2024 Jeep Grand Cherokee Is Up To $4,595 Cheaper Than Before

In a rare twist, the newer version of a car is actually cheaper than its predecessor.

Front view of a 2022 Jeep Grand Cherokee with a white finish.

Christopher Smith

By: Christopher Smith

Feb 12, 2024 at 12:13pm ET

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New vehicles are more expensive than ever. There's one exception, though: The Jeep Grand Cherokee. In a surprising move, Jeep has taken a gigantic red pen to the bottom line of most Grand Cherokee trim levels for 2024. You 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. Step up to the range-topping Summit Reserve and the price drop is even larger: $4,595.

That means the most expensive Grand Cherokee trim now has a starting price under $70,000, even after the $1,795 destination charge. It's worth mentioning the same price cut applies to the three-row Summit Reserve, though it clocks in a few bucks over $70,000. The price cuts apply to three-row models throughout the lineup, as well as those with a choice of two-wheel or four-wheel drive. The only Grand Cherokee trims not packing a price drop are the entry-level Laredo A, and the hybrid 4xe versions.

Gallery: 2022 Jeep Grand Cherokee: First Drive

2022 Jeep Grand Cherokee

Here's a price breakdown of 2024 Grand Cherokee models (excluding 4xe) and the year-over-year price changes. All prices include Jeep's $1,795 destination charge and denote a 2WD, two-row model unless otherwise noted. Overland and Summit trims are only offered with 4WD for 2024, so we use 2023 4WD pricing to have an apples-to-apples comparison. Beyond that, Add $2,000 for 4WD and another $2,000 for a three-row Grand Cherokee L. Go for the Laredo trim and you'll only have to pay $1,750 to get an extra row.

Model/Trim 2023 Price 2024 Price Difference Laredo A (2wd 2-row only) $38,290 $38,290 $0 Laredo $42,425 $40,425 -$2,000 Laredo X $43,175 $41,175 -$2,000 Altitude $46,435 $44,435 -$2,000 Altitude X $47,530 $45,530 -$2,000 Limited $51,795 $48,295 -$3,500 Overland (4WD) $67,385 $63,385 -$4,000 Summit (4WD) $68,950 $64,950 -$4,000 Summit Reserve (4WD) $73,430 $68,835 -$4,595

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We contacted Jeep to ask about the significant price cut, a stark contrast to typical year-over-year price changes, which usually increase rather than decrease. A company spokesperson offered this statement from Jeep CEO William Peffer:

"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 US 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."

More SUV Pricing For 2024:

The Hyundai Santa Fe Gets A Massive $5,000 Price Increase For 2024

The Nissan Rogue's Small Facelift Comes With A Small Price Bump

Source: Jeep, via Cars Direct

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