Jeep Grand Cherokee prices cut by up to $28,000

The 2023 Jeep Grand Cherokee has come in for price cuts of up to a whopping $28,000, following slow sales.

Announced late this afternoon (Friday), the hefty price cuts apply to all MY23 examples of the latest WL-series Grand Cherokee, sales of which are down by almost 44 per cent to April this year.

In fact, sales of all Jeep models have declined in 2024, when the US off-road brand’s tally is 40 per cent lower than the same period in 2023 – and last year Jeep Australia posted its lowest annual sales figure since 2009, post the GFC.

In a move that’s likely to upset the 254 Australians who purchased Jeep’s flagship SUV so far this year, the “repriced” five-seat 2023 Jeep Grand Cherokee now starts from $65,450 plus on-road costs.

That's $12,500 less than before ($77,950 plus ORCs) and only about $5000 more than the WK-series five-seater's old base price. The new fifth-generation WL Grand Cherokee arrived Down Under in long-wheelbase seven-seat L guise in mid-2022 and was joined in February 2023 by the short-wheelbase five-seat model, which came with price hikes of more than $17,000 over its predecessor.

But the five-seat MY23 Grand Cherokee’s biggest price reduction goes to the premium Overland grade, which was offered with a $10,000 factory bonus last month and is now $20,500 cheaper than its previous list price at $77,950 plus ORCs – the same price tag previously worn by the entry-level Night Eagle.

The relatively new and range-topping Jeep Grand Cherokee Summit Reserve 4xe – Jeep’s first plug-in hybrid vehicle (PHEV) – also comes in for a price reduction, this time down $18,500 to $111,450 plus ORCs.

The MY23 Grand Cherokee L, meantime, now starts at $69,450 plus ORCs – down $13,300, lowering its price premium over the equivalent Night Eagle five-seater to just $4000.

The seven-seat Overland gets a big $21,300 price cut (now $81,950 plus ORCs), but the biggest price reduction – this time a mammoth $28,000 – is ‘reserved’ for the flagship Grand Cherokee L Summit Reserve, which is now priced at $91,450 plus ORCs.

It’s unclear how many MY23 Grand Cherokees remain available in dealer stock and whether MY24 vehicles will retain their original price tags, but Jeep has confirmed that no 2024-plated vehicles have yet arrived in showrooms.

Apart from the five-seat PHEV’s more powerful 280kW/637Nm 2.0-litre turbo-petrol powertrain, all WL Grand Cherokees are powered by a 209kW/347Nm 3.6-litre petrol V6.