Jeep gross sales anticipated to develop 50% by 2027

AUBURN HILLS, Mich. – Stellantis expects to develop gross sales of Jeep autos globally by 50% within the subsequent three years, because the automaker makes an attempt to leverage the quintessential American SUV model for elevated earnings.

The trans-Atlantic automaker on Thursday mentioned it’s going to increase manufacturing and gross sales to roughly 1.5 million items by 2027. To take action, the corporate will develop its automobile and powertrain choices.

“The Jeep model could be a native hero anyplace,” Stellantis CEO Carlos Tavares advised traders Thursday throughout Stellantis’ investor day at its North American headquarters. “We’re going to reinforce the manufacturing footprint of Jeep.”

Jeep plans to increase its automobile nameplates from 10 to 13 by 2027, Jeep CEO Antonio Filosa mentioned. These autos will embrace 27 completely different powertrain choices – conventional inside combustion engine, hybrid, extended-range/plug-in hybrid electric and all electrical. That is up from 18 at present.   

“We need to develop,” mentioned Filosa outlining three pillars of its technique: buyer selection of powertrains, growing market protection and globalization.

A lot of the anticipated development is targeted in North America, the place the model goals to prime gross sales of 1 million items by 2027, up from roughly 700,000 final 12 months.

Jeep is predicted to roll out the just lately revealed Wagoneer S EV later this 12 months, adopted by a Jeep Wrangler-inspired off-road automobile known as the Recon. A brand new mainstream unnamed midsize SUV is deliberate for subsequent 12 months to exchange the discontinued, gas-powered Cherokee SUV. Jeep can also be planning plug-in variations of its present Wagoneer and Grand Wagoneer massive SUVs.

A roughly $25,000 Jeep Renegade EV is predicted by 2027, in keeping with the corporate’s investor deck. Tavares introduced such a automobile final month, saying it might come to the U.S. “very quickly.”

Providing a brand new EV for round $25,000 has lengthy been a goal for automakers comparable to Stellantis, Tesla and others. The significance of such a automobile has grown extra obvious as Chinese language automakers comparable to BYD and Nio develop their gross sales of less-expensive EVs outdoors of China.

By means of the primary quarter of this 12 months, Jeep’s gross sales totaled 31,750, up 47% from the identical interval a 12 months earlier. The model offered practically 643,000 autos final 12 months, down 6% from 2022. Jeep represented 42% of Stellantis’ U.S. gross sales in 2023.