Prices for the Jeep Grand Cherokee have been reduced by up to AUD 28,000 (US$ 18,800) - or up to 23% - as the US car maker's sales slump to their lowest levels in nearly 15 years.

It follows a series of steep price rises across the Jeep line-up during the pandemic which saw a Wrangler Rubicon's cost climb by AUD 19,000 in 12 months - and the latest Grand Cherokee arrived in showrooms with price hikes of up to AUD 17,500.

Jeep reported its lowest result since 2009 in Australia in 2023, in the wake of the Global Financial Crisis.

The company's best result in Australia was in 2014, at the height of the previous-generation Grand Cherokee's run.

Since the start of 2024 Jeep sales are down 40%, in 33rd position overall - behind Porsche, Mini and its sibling, US pick-up specialist Ram.

And over the first four months of 2024, the Jeep Grand Cherokee has been outsold by the Porsche 911, which starts from approximately AUD 300,000.

Effective today, Jeep Australia has cut prices across the Model Year 2023 (MY23) Grand Cherokee line-up - across five-seat and seven-seat 'L' bodies - by between AUD 11,000 and AUD 28,000.

Model Year 2024 (MY24) vehicles have not arrived in showrooms, a Jeep Australia spokesperson told the publication - so the price cuts apply to current stock.

The largest price cut has been applied to the Jeep Grand Cherokee L Summit Reserve petrol V6 seven-seater, while the five-seat Limited receives the smallest increase.

AUD 12,500 cut to the base price - now AUD 65,450 plus on-road costs for the Night Eagle five-seater, down from AUD 77,950 - is the lowest it has been since the previous base Grand Cherokee five-seater left showrooms at AUD 60,450.

No reason for the price cuts was given in Jeep Australia's media release, which was published at approximately 4:15pm on 148th May, 2024.

2024 Jeep Grand Cherokee price in Australia

- Grand Cherokee Night Eagle five-seat: AUD 65,450 (down AUD 12,500 or 16%)
- Grand Cherokee L Night Eagle seven-seat: AUD 69,450 (down AUD 13,300 or 16.1%)
- Grand Cherokee Limited five-seat: AUD 72,950 (down AUD 11,000 or 13.1%)
- Grand Cherokee L Limited seven-seat: AUD 75,950 (down AUD 12,800 or 14.4%)
- Grand Cherokee Overland five-seat: AUD 77,950 (down AUD 20,500 or 20.8%)
- Grand Cherokee L Overland seven-seat: AUD 81,950 (down AUD 21,300 or 20.6%)
- Grand Cherokee L Summit Reserve seven-seat: AUD 91,450 (down AUD 28,000 or 23.4%)
- Grand Cherokee Summit Reserve 4xe five-seat plug-in hybrid: AUD 111,450 (down AUD 18,500 or 14.2%)