Plug-in hybrid family SUV price cut! 2026 Jeep Grand Cherokee 4xe price dropped by tens of thousands of dollars as brand clears old stock of Toyota Prado, Mazda CX-70 rival

Jeep has cut the price of its outgoing plug-in hybrid Grand Cherokee 4xe by tens of thousands of dollars as the carmaker clears old stock dating back two years.

The American SUV brand launched the 4xe PHEV back in late 2023 and slapped it with a hefty price tag of $129,950 before on-road costs.

Just seven months later, Jeep dropped pricing across the entire Grand Cherokee line-up, including a $28,000 cut for the top-spec petrol-powered long-wheelbase Summit Reserve L. The PHEV price was lowered by $18,500 to $111,450 at that time.

Now Jeep says the remaining stock of the plug-in Summit Reserve is available for $77,760 before on roads, which represents a $33,690 reduction, or a massive $52,190 drop from the original 2023 price.

Jeep announced in March this year that it would drop the Grand Cherokee from its Australian line-up with parent company Stellantis saying the action was to “right size” the local offering.

"While the Jeep Grand Cherokee will continue to be sold in many countries around the world, this decision allows us to focus our efforts on placing the right products in the right segments that can have the greatest relevance for our customers," a Stellantis spokesperson said at the time.

The company says there are just 90 examples of the Grand Cherokee Summit Reserve 4xe left in Australian dealers.

“This move reflects Jeep’s commitment to delivering greater value and accessibility in the premium electrified SUV space, without compromising on luxury, technology, or capability,” the company said in a release.

A quick look at Jeep dealer sites shows a number of ‘new’ examples of Grand Cherokee PHEVs that date back to 2023. One example seen by CarsGuide is a 2023 4xe with just 25km on the odometer and a price tag of just under $103,000 drive-away.

The Grand Cherokee 4xe is powered by a 2.0-litre four-cylinder turbocharged petrol engine and a 17.3kWh battery, offering up a total output of 280kW/637Nm.

Official combined cycle fuel use is 3.2L/100km, and it has an electric driving range of 52km, but that’s on the lenient NEDC cycle, so real-world range will be significantly less than that.

The Grand Cherokee Summit 4xe does come with a lengthy standard features list that includes leather-appointed seating, a 19-speaker 950W McIntosh audio system, 12-way adjustable front massage and ventilated seats with memory function, open-pore real wood interior trim, 10-inch head-up display, air suspension, 21-inch alloy wheels and a dual-pane panoramic sunroof.

The Grand Cherokee was at one point one of the most popular large SUVs in Australia, with the previous generation version setting a sales record back in 2014 with 16,582 units, more than the Toyota Prado in that 12-month period.

With the Grand Cherokee now in runout, Jeep has sold 554 to the end of July this year.

The company still offers the Wrangler off-roader and its Gladiator pick-up twin, the Compass small SUV and the Avenger electric crossover. A new-gen Compass is set to go on sale in the second half of next year.