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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.
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.
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
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.
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.
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.
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.
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.
In 2024, CarEdge Data shows that the average transaction price for a new Jeep Compass is $34,688.
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.
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.
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.
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In February, smart car buyers can negotiate thousands of dollars off of brand-new 2024 models, but only if you know where to look. Several cars, trucks, and SUVs simply aren’t selling like OEMs and dealers expected. Normally, there’s between 45 and 65 days of supply for new cars. This means that if there were no new shipments, it would take that many days to sell the existing inventory and current selling rates. Right now, multiple models are above and beyond 100 days of supply, and in some cases, well north of 200 days of supply.
Calling this an oversupply would be an understatement. This surplus has turned the tables for potential buyers, who now find themselves in a unique position to leverage this abundance for potentially better deals. Utilizing the latest insights from CarEdge Data, we’ve pinpointed which 2024 cars and trucks are currently the most negotiable.
For 2024, Ford has refreshed the exterior with updated headlights and a redesigned grille. A 2.7-liter turbocharged V-6 engine now sits as the standard powertrain, offering a fresh dynamic under the hood. Additionally, the previous Platinum Plus variant has been replaced by a newly introduced Limited trim, marking a significant update in the model’s lineup.
The 2024 Explorer largely mirrors the 2023 model. Minor updates include newly integrated air vents and rearranged components to accommodate a bigger infotainment screen and a new smartphone shelf.
In 2024, the Jeep Compass sees minimal changes, with the addition of new appearance and equipment packages slated for later in 2024. An updated front grille insert and fresh 19-inch wheel designs will be introduced soon. Additionally, the Trailhawk variant will be equipped with a new set of all-terrain tires.
The 2024 lineup introduces the Carbon Turbo trim, featuring Zircon Sand paint, black wheels, and Terracotta leather seats, and is powered exclusively by a 250-hp 2.5-liter turbocharged engine. The Select trim is now called the Select Sport, which boasts upgraded 18-inch black metallic wheels, black mirrors, and black synthetic leather. Additionally, a larger 10.3-inch infotainment screen is now offered in the higher-end Turbo models.
For 2024, the Ram remains largely unchanged, possibly in anticipation of the substantial updates planned for the 2025 model. Notably, Ram discontinued the diesel engine option for the 1500 model last year.
With more than twice the normal inventory levels in some cases, it’s clear that several 2024 models are highly negotiable, despite being fresh out of the factory. Before you visit dealership lots, remember this: dealers are stubbornly reluctant to lower sticker prices, but they’re more open to negotiating with educated buyers than at any time in the past few years. With negotiation know-how, you can save thousands.
Despite achieving a record-breaking sales year in 2023, with over 11 million vehicles sold worldwide, Toyota is currently navigating through a turbulent period marked by a series of scandals and controversies across its 17 companies. The Japanese automotive giant, renowned for its quality and safety, has been hit by governance issues and testing irregularities that threaten to tarnish its global reputation. Should you be concerned about Toyota reliability? Here’s what you need to know.
Toyota’s chairman, Akio Toyoda, has publicly apologized for the scandals plaguing its subsidiaries, including small-car maker Daihatsu, truck manufacturer Hino Motors, and Toyota Industries, which is responsible for producing engines. The issues primarily revolve around certification test procedures for cars and engines, casting a shadow over Toyota’s commitment to quality and integrity. In a bold move, Toyoda addressed the media and stakeholders, expressing deep regret for the inconvenience and concern caused by these irregularities.
“I would like to express my deepest apologies to our customers and stakeholders for the inconvenience and concern caused by the successive irregularities at Hino Motors, Daihatsu and Toyota Industries,” Toyota Chairman Akio Toyoda told reporters
The Impact on Production and Sales
The repercussions of these scandals are already being felt among affected brands. Daihatsu suspended shipments of all its cars following a safety scandal investigation that revealed issues with 64 models, some of which are sold under the Toyota brand.
This has led to a significant drop in Daihatsu’s global production and sales. The Daihatsu scandal led the company to halt production. Toyota itself has halted shipments of certain models, including the Hilux truck and Land Cruiser 300 SUV, after an independent panel discovered wrongdoing in tests for diesel engines produced by Toyota Industries.
Cheating on Engine Testing
The situation worsened when Japanese transport officials raided a Toyota-affiliated plant after the company admitted to cheating on engine testing. This admission adds another layer to the company’s current woes. This scandal is particularly damaging as it involves some of Toyota’s most popular international models, including the Land Cruiser and Hilux SUVs, affecting markets in Japan, Europe, the Middle East, Africa, and Asia.
The Takata Airbag Recall Continues
Takata’s massive airbag recalls have been ongoing for over a decade. Since 2013, over 40 million cars and trucks have been recalled due to dangerous hazards from the airbags.
In 2024, Toyota is expanding the Takata airbag recall even further. The company has issued a warning to owners of about 50,000 vehicles in the United States. The new Toyota recall includes certain model years of the Corolla and RAV4. Toyota advises drivers to take their vehicles in for service immediately.
These are the models and years affected by the most recent Toyota recall:
As Toyota grapples with these multiple fronts of controversy, leadership is under pressure to steer the company out of scandal and restore its image. However, with no concrete plan of action, Toyota drivers are wondering what’s next.
Should you be concerned about Toyota’s reliability? In the United States, no major issues have arisen aside from the decade-long Takata airbag recalls. Regardless, we highly recommend checking if your VIN is subject to ANY recalls, regardless of make or model. Use the U.S. NHTSA’s free recall checker here.
No matter how you look at it, Toyota’s resilience is under pressure. Drivers and competitors alike are watching closely to see how the automaker known for reliability will respond to these challenges.
For the first time in over two decades, Super Bowl 58 will come and go without advertisements from America’s largest automakers. Ford, General Motors, and Stellantis, the parent company of Chrysler, are all sitting out the 2024 Super Bowl ad frenzy. Traditionally, the Detroit Three dominated Super Bowl car commercials. Not anymore. But which automakers ARE advertising in the 2024 Super Bowl? We’ve got the complete list below.
By the way, if you’re wondering how much Super Bowl commercials cost this year, the latest word on the street is somewhere north of $7 million per 30-second spot.
Toyota
Toyota is all-in on the Super Bowl this year with a series of ads starring former NFL quarterback Eli Manning, YouTuber Pushing Pistons, and other big names. These ads will showcase various Toyota models, including the Supra and the all-new Land Cruiser SUV. From the teasers we have, it’s interesting to see Toyota advertising niche models rather than going for mass appeal.
Volkswagen is returning to Super Bowl advertising for the first time since 2014, with a focus on its electric vehicle lineup. The ad for the all-new ID Buzz all-electric van aims to highlight Volkswagen’s evolution from its iconic Beetle to today’s electric offerings. Volkswagen’s EVs have been no exception to the current ‘EV winter’, as the ongoing sales slump has been called.
Kia, on the other hand, is set to advertise its all-electric EV9 SUV. In January, the EV9 outsold the EV6 just one month after hitting the market. Finally, a somewhat affordable 3-row EV is here.
Could 2024 be the last time we see a meaningful number of automotive Super Bowl ads? With the price tag for a half-minute spot climbing ever higher, it’s no surprise that OEMs are turning down the opportunity in times of strong headwinds. With struggling transitions to EVs everywhere you look, automakers are likely to have plenty of reasons to spend less in the years ahead.
What we could see next year is newcomers to Super Bowl commercials. It wouldn’t surprise us if the likes of Rivian, Lucid, and even Tesla fork over $10 million for a 30-second spot in 2025. Is it a wise use of millions of dollars? That’s up for you to decide.
What do you think? Let us know in the comments below.
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As Presidents’ Day approaches, many wonder if it’s a wise time to purchase a new vehicle. Traditionally, year-end sales boast the most attractive discounts, but 2024 is close to bucking that trend. Thanks to a continuing oversupply of new cars, the enticing offers of financing, cash back, and lease deals have spilled over into February, making Presidents’ Day a great time to buy a car, but only if you’re taking advantage of this month’s promotions. Let’s take a look at the 5 best offers for drivers looking to finance, lease, or pay cash this month.
The Best Presidents’ Day Financing Offers
Chevrolet: Drive home a 2024 Chevrolet Silverado 1500 at just 2.9% APR for up to 72 months. This is a rare truck financing offer at today’s interest rates! Learn more.
Nissan: The 2023 Ariya EV shines with 0% APR for 72 months plus $1,000 in total savings. For truck enthusiasts, the 2023 Titan and Titan XD come with 0% APR for 60 months, coupled with $2,000 in total savings.
Hyundai: The 2024 Tucson and 2023 Santa Fe are available at 0% APR for 36 months, with an added bonus of $1,000 off MSRP.
Mazda: This month, there’s a 0% APR offer for the 2024 CX-30 and a 1.9% APR offer for 60 months for the 2024 CX-50 (most trims). The 2024 CX-5 qualifies for 0.9% APR (exclusive CarEdge offer)
In conclusion, Presidents’ Day car deals in 2024 are remarkably favorable due to the ongoing oversupply of new cars. This surplus has led to more aggressive offers from manufacturers, making it an excellent time to consider a new vehicle. Oddly enough, it seems that many of the best year-end deals have spilled over into the new year. However, if you don’t plan to take advantage of the best offers, high interest rates make this a costly time to buy.
Our team has one simple take away message for you. If you’re going to buy a car this month, take advantage of low APR offers or attractive lease deals. Don’t fall victim to interest rates at 20-year highs!
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!
