2024 Jeep Grand Cherokee prices went up — now they've dropped by as much as $4,000

When we posted on pricing for the 2024 Grand Cherokee just a couple of weeks ago, we wondered yet again at lavish MSRP increases that Stellantis is applying to three of its four U.S. brands. Relative to launch pricing at the start of the 2023 model year, the lower Laredo and Altitude trims were only a few hundred more expensive in 2024, but the Limited, Overland, and Summit were anywhere from $3,190 to $6,490 more expensive.

It's a great thing for Grand Cherokee shoppers that Jeep has since been able to admit, "Hey, maybe we got a little exuberant with prices, let's see what we can do about that." And what the automaker has done is lower MSRPs by either $2,000, $3,500, or $4,000 on the 2024 Grand Cherokee and Grand Cherokee L.

A TikTok user called "zachshefska" first highlighted a bulletin Stellantis sent to Jeep dealers on January 29 — the same day our price post ran — called "2024MY Jeep Pricing Action." The discounts outlined in the bulletin took effect with 2024 Grand Cherokee production beginning January 31, 2024. Jeep loaded the new figures on its configurator, so the latest opening bids for a Grand Cherokee, and their comparisons to the original 2024MY MSRPs are:

• Laredo A: $38,390 (No change)
• Laredo: $39,830 ($2,000 less)
• Laredo X: $40,580 ($2000 less)
• Altitude: $44,435 ($2,000 less)
• Altitude X: $44,935 ($2,000 less)
• Limited: $47,700 ($3,500 less)
• Overland: $62,790 ($4,000 less)
• Summit: $64,445 ($4,000 less)
• Summit Reserve: $68,835 ($4,000 less) 

Dealers with properly completed sold orders submitted by January 30 are eligible for price protection with a few qualifications, meaning some buyers won't need to miss out on the savings assuming their dealers filled in all the blanks.

Since our original comparator was launch pricing for the beginning of the 2023 model year, it's only fair to benchmark these latest prices again. We're leaving out the Laredo A, Laredo X, and Altitude X since those models are new this year. The new pricing on the 2024 Grand Cherokee Laredo is $1,360 less expensive than the same trim was about 18 months ago, the Altitude $1,435 less expensive, the Limited $310 less, the Overland $4,690 more, the Summit $2,485 more, the Summit Reserve $500 more. The big hikes in the Overland and Summit are partly due to those being available in 4x2 configuration until the 2024 model year, when they went 4x4 only; since the 4x4 option adds $2,000 to the price, the real differences from yore are $2,690 and $485. 

A Jeep spokesperson told CarsDirect, "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 U.S. MSRPs on some of our most popular models, like the 2024 Jeep Grand Cherokee."

A few final things to know. These prices all buy the 3.6-liter V6, the only engine available; when the Hurricane inline-six makes its way to the Grand Cherokee, these prices are all but guaranteed to rise. 2024 Grand Cherokee 4xe pricing is unaffected. And CarsDirect also noted, "Last month... some Grand Cherokees had a promotion involving 10% off MSRP. Now, they don't. This type of change could negate the impact of the price cuts on consumers."