Huge Supply/Low Sales: The 1 Model Jeep Is Furiously Trying to Sell
The latest sales reports for new vehicles show how disparate Jeep sales are in 2023. On one end, the Jeep Wrangler 4xe is seeing huge sales, keeping it in the No. 1 spot as the best-selling plug-in hybrid vehicle in the U.S. And right behind it is the Grand Cherokee. But then there’s the Jeep Renegade.
Jeep has a 542 market-day supply of the spunky SUV as of July 1. The market-day supply is the number of days it would take to sell a manufacturer’s inventory of specific cars if it stopped production today. Essentially, that means flipping all the unsold Renegade SUVs would take a year and a half based on the rate this Jeep small SUV is selling.
How are supplies for Jeep Renegade competitors?
Jeep just can’t sell enough Renegades, but the supply number is down from 753 in June. So maybe some buyers are stepping up. But for various reasons, the automaker keeps pumping out Renegades rather than pumping the brakes on production.
Let’s compare the supply numbers for the Ford Maverick, Toyota Highlander, and Subaru Outback. The Mav has a 20-day supply, the Highlander 14, and the Outback nine. So those are just some of the hot ones dealers can’t keep on their lots.
Is Jeep offering 2023 Renegade discounts?
Jeep’s supply problems don’t end with the Renegade. The Cherokee has a 372-day supply, with the Grand Wagoneer at 285 days. Across the board, Ram and Jeep seem to be building a lot faster than they can unload. The Ram 2500 pickup has a 457-day supply, and the Chrysler Pacifica Hybrid has a 320-day inventory. Oh, and the Ram 1500 Classic is at 274 days.
Back to the Renegade, with the number of them sitting around, it means Jeep is wheelin’ and dealin’ on them. Autopian reports 9% discounts from MSRP and a $4,500 capitalized cost reduction to lease a Renegade. That lingo is the same as saying a $4,500 discount.
What if Jeep can’t sell the remaining Renegades?
Sure, the Renegade may not be everyone’s idea of the perfect Jeep. But as a grocery-getter or around-town whip, it might be worth comparing to a Honda CR-V or Toyota RAV4 for practicality and price. With a starting MSRP under $28,000, plus a 10% discount or maybe more, Jeep’s cute SUV could cost several thousand dollars less than a CR-V or RAV4.
And before you know it, Jeep will be even more motivated as summer ends. Those shiny 2024 models showing up make the 2023s look a bit shop-worn.