Jeep prices have gone through the roof. Buyers are bailing and dealers are furious

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Jeep prices have gone through the roof. Buyers are bailing and dealers are furious

By Chris Isidore, CNN
5 minute read
Updated 10:58 AM EST, Thu November 21, 2024


Weak sales of the Jeep Gladiator have led Stellantis to cut one of two shifts at the Toledo factory that makes the pickup. David Zalubowski/AP/File

New York (CNN) — The Jeep Gladiator was unveiled to great fanfare by then-owner Fiat Chrysler in 2018, the first pickup model for the hot brand in more than a quarter of a century. And at first it seemed like it might live up to the hype. ... After rolling out in 2019, sales doubled in 2020, reaching nearly 90,000 in the US despite pandemic-induced production issues and making it one of the few winners that troubled year. ... But the success was short-lived.

After Fiat Chrysler’s merger with PSA Group in early 2021 created Stellantis, the company began focusing on higher-priced, higher-margin vehicles, using limited supplies of parts such as computer chips to build the pricier versions of its vehicles. That left many traditional Jeep and other Fiat Chrysler buyers looking elsewhere. ... A search of Jeep’s site shows only a few Gladiators with a sticker price below $40,000 nationwide, none for less than $39,790. Sticker prices for some Gladiators on dealer lots now go as high as $72,000.

Gladiator sales have fallen steadily from the 2020 peak as a result and are down another 21% so far this year. Jeep overall has become a shell of its former self, with sales down 36% from before the pandemic. Stellantis managed to turn off customers to what was one of the hottest and most desirable brands by jacking up prices and mismanaging its lineup.

The problems at Stellantis are not limited to Gladiator or even to Jeep. The Ram truck brand has also struggled to keep up with truck offerings from General Motors and Ford. Dodge has cut some of its popular models in anticipation of electric versions. Chrysler, once the company’s core brand, is essentially down to one model, the Pacifica minivan, arguably the weakest segment of the US market.

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