Jeep Prices Have Increased 61% In 5 Years

Key Takeaways

  • Jeep prices have increased 61% since 2018.
  • Jeep sales have declined 34% over that same period of time.
  • Now Jeep is being forced to lower prices rapidly to sell cars.

What vehicle are you interested in?

Last updated Feb 14, 2024

Jeep prices have risen 61% since 2018. Overall, new car prices in America climbed 28% over the same period. Could Jeep’s price inflation be to blame for the brand’s falling sales? Which Jeep prices have risen the most? Are all trim levels seeing equal price hikes? We’ll answer these questions and more. Plus, we’ll take a closer look at Jeep’s best-selling models. But first, let’s dive into Jeep’s overall sales and price trends in the U.S. market. 

Jeep’s Sales Fall 34% As Prices Rise

Is Jeep okay? The beloved brand has millions of diehard fans worldwide, but it seems that’s not enough to keep sales climbing. There’s no hiding the fact that Jeep is losing market share rather quickly. Looking at the numbers, Jeep’s parent company Stellantis reported sales dropping from 973,227 in 2018 to 642,924 cars sold in 2023. In the blink of an eye, Jeep sales fell 34%. For the first time in many years, Jeep’s market share in America has fallen below 5% of new car sales.

Jeep US sales over time - 2024

Over the same period, Jeep’s average transaction price rose from $33,954 in 2018 to $54,715 in 2023, a price increase of 61 percent

Could worsening car price inflation be to blame for Jeep’s declining sales, or could it be concerns about reliability and high maintenance costs? It’s likely a combination of these and other factors. Let’s take a look at Jeep prices over time.

Jeep price trends over time - 2024

The launch of the Jeep Wagoneer and Grand Wagoneer was chief among the reasons for Jeep’s soaring prices. However, other factors were at play, too. In the next section, we’ll take a look at how much Jeep raised prices for their 5 best-selling models. We’ll even break it down by trim level. 

Jeep Grand Cherokee

2024 Jeep Grand Cherokee prices

Last year, Stellantis sold 244,594 Jeep Grand Cherokee’s in America. That’s up 10% from 2022. However, Grand Cherokee prices are rising. Here’s a look at Grand Cherokee price trends over the past five model years, with a breakdown showing the base model, mid-spec, and top-trim prices over time.

Jeep Grand Cherokee price trends 2024

As Jeep continues to seek out buyers in the premium market, they continue to introduce more expensive top-line trims. Prices for a top-of-the-line Grand Cherokee is approaching, and in some cases exceeding, $80,000.

In 2024, CarEdge Data shows that the average transaction price for a new Jeep Grand Cherokee is $53,570. 

Browse Jeep Grand Cherokee listings with the power of local market data.

2024 Jeep Wrangler prices

The Jeep Wrangler has been on sale for nearly 40 years. In 2023, Jeep sold 156,581 Wranglers in America. Sales were down 14% from 2022. Here’s a look at Jeep Wrangler prices over time for three popular trim options.

Jeep Wrangler price hikes over time, 2024

The story is much the same for the Wrangler. While the Sport and Rubicon trim levels have slowly climbed higher, top trims have nearly doubled in price since 2020.

In 2024, CarEdge Data shows that the average transaction price for a new Jeep Wrangler is $59,457. 

Browse Jeep Wrangler listings with the power of local market data.

Jeep Compass 2024 price

Last year, Jeep Compass sales totaled 96,173, an increase of 12% year-over-year. Here are Jeep Compass price trends over the past five years, showing car price inflation as it happened.

Jeep Compass prices 2024

In 2024, CarEdge Data shows that the average transaction price for a new Jeep Compass is $34,688. 

Browse Jeep Compass listings with the power of local market data.

2024 Jeep Gladiator price

Gladiator sales fell sharply in 2023, down 29% from the year before. Could rising prices be to blame? It’s possible. Here’s a look at how rapidly Jeep Gladiator prices have climbed.

Jeep Gladiator prices 2024

The Gladiator has seen significant price hikes every year since its release. The popular Rubicon has seen the steepest price increases.

Today in 2024, CarEdge Data shows that the average selling price of the new Jeep Gladiator is $52,401. 

Browse Jeep Gladiator listings with the power of local market data. 

Jeep Wagoneer price trends

After launching the Wagoneer for the 2022 model year, Jeep has had limited success selling the large SUV. The premium price tag sent Jeep’s average selling prices skyward, despite selling just 29,148 copies in 2023. The even larger and more luxurious Grand Wagoneer sold 10,618 units last year. 

Being that this is a new model, we don’t have an extensive price history just yet. We can see that since 2022’s launch, Jeep has already raised the base price of the Wagoneer from $60,995 in 2022 to $64,945 for 2024.

Looking to Save Thousands On Your Jeep Purchase? We Can Help.

Who is CarEdge? Simply put, we’re a team of real people saving drivers serious money. How do we do it? We offer car buying help for every price point. From 100% free resources to an all-inclusive car buying concierge, and everything in between, CarEdge is taking the pain out of car buying. 

How about some free car buying help…

Car buying cheat sheet

Ready to outsmart the dealerships? Download your 100% free car buying cheat sheets today. From negotiating a deal to leasing a car the smart way, it’s all available for instant download. Get your cheat sheets today!

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

NEWSLETTER

The latest insights
right in your inbox

Get the latest car trends and money-saving strategies, once a week.

By signing up, you agree to CarEdge's Privacy Policy and Terms & Conditions.

Share This