A new analysis by iSeeCars shows, by model, how many units of the 2024 and 2025 versions dealers have when the brand new 2026 versions of these hit their lots. It becomes a financial problem. iSeeCars experts write, “Dealers eager to make room for new arrivals may be more willing to negotiate on these new models that have been waiting on lots for up to two years.”
iSeeCars looked at the percentage of 2024 inventories by model that are still available for sale. The higher the number, the more leverage the buyer has. iSeeCars Executive Analyst Karl Brauer says, “But if dealers are struggling to move an older, leftover 2024 or 2025 model, it can be an opportunity for buyers who want new car peace of mind and warranty coverage at a reduced price.”
The research firm has provided the percentage of leftover 2024 inventory on dealer lots by model. Among the top 10, three are Jeeps. The Grand Cherokee number is 70.8% (average price $64,014) of its 2024 inventory for sale, on average by dealer. The Jeep Grand Wagoneer L ($92,497) has 24.1%, and the Jeep Wrangler plug-in hybrid model ($60,720) has 18.2% of 2024 inventory.
The industry average for all 2024 models on the lot is 0.4%. The study analyzed 2.6 million new car listings to identify the highest percentage of 2024 and 2025 models still sitting on dealer lots.
Two things about the Jeeps are notable. The Jeep models are expensive by industry standards. The average price of a new car is about $49,000, which is an all-time high.
Additionally, Jeep parent Stellantis N.V. (NYSE: STLA) has had terrible problems with its Jeep brand. “Jeep has been in a rut this decade, despite the brand’s well-known off-road capabilities that have carried it for most of the past century. It has experienced six consecutive years of U.S. sales declines,” CNBC reports.
Stellantis has tried everything in the book to fix its Jeep sales problem. However, there are some hurdles it may not be able to clear. For instance, the Consumer Reports “best car brands” study rates Jeep at the bottom of the 31 brands it measures. Those results are based on reliability, owner satisfaction, safety, and road-test scores.
Jeep has announced plans for a turnaround. However, so far it has done little to affect dealer and buyer opinion.
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