Large SUV price slashed by up to $28k: Jeep Grand Cherokee heavily discounted to move stock of Mazda CX-90 and Hyundai Palisade rival

Jeep has announced severe price cuts for its Grand Cherokee and Grand Cherokee L large SUVs, with discounts as steep as $28,000 for flagship Summit Reserve models.

The price of entry has fallen by $12,500 for the Grand Cherokee Night Eagle five seater to $65,450, while the seven seater is $13,300 cheaper at $69,450, all before on-road costs.

While it's typical for brands to offer discounts approaching the end of financial year to shift stock, it's rare to see such significant cuts.

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The Jeeps in question are 2023 plate vehicles though there are no specification differences between them and MY24 examples. The vehicle arrived in Australia in May 2022.

The range is mostly powered by a 3.6-litre V6 developing 210kW and 344Nm.

Saving for V6-powered Night Eagles are between $12,500-$13,300 (5/7 seat), the mid-spec Limited $11,000-$12,800, Overland $20,500-$21,300 and Summit Reserve seven-seat $28,000.

Savings also apply to the five-seat Summit Reserve 4xe plug-in hybrid to the tune of $18,500.

It uses a 2.0-litre turbo-petrol four-cylinder and two electric motors powered by a 17.3kWh battery. The result is 280kW/637Nm and WLTP 52km EV-only driving range.

The Grand Cherokee is capable off road.

When Jeep launched the fifth-gen Grand Cherokee range locally it planned to move upmarket. The vehicle is dearer than rivals such as the Hyundai Palisade (from $66,800) and Mazda CX-90 (from $74,400).

Sales have slowed since the Grand Cherokee's introduction, with Jeep shifting just 254 examples down 43.8 per on last year.

Jeep Australia did not specify an end date to the sale or communicate how many examples are in stock.

It's the first major price cut for a combustion vehicle ahead of EOFY. Electric vehicle makers, including Tesla, BYD, Peugeot, Renault and Nissan, have all slashed prices lately.

Jeep Grand Cherokee prices (before on-road costs, in stock MY23 models)

Jeep Grand Cherokee L seven-seat prices (before on-road costs, in stock MY23 models)