AN iconic car brand is poised to release three new up-market motors with an eye to rival Audi – but the models come with a hefty price tag.
Jeep’s upcoming new electric flagship vehicle, the Wagoneer S, will be one of three models due to hit Britain’s roads over the next 18 months.
The company’s UK boss believes the new motor will be more than just a niche product and help play a key role in the US company’s growth.
Jeep’s current market share in the UK stands at around 0.5 per cent, with the supermini-sized Avenger accounting for about 75 per cent of those sales.
Meanwhile, the more upmarket and bigger Grand Cherokee as struggled to make an impact with buyers.
The Wagoneer S is expected to cost close to the £100,000 mark when it’s released but the head of Jeep in the UK, Kris Cholmondeley, believes the vehicle can be a big success here.
He told Autocar: “The Wagoneer S is a brilliant car, and the segment is big enough.
“We haven’t succeeded with the Grand Cherokee; we have to be honest with that. So we have to learn from that and reflect on how we execute it.
“If you look at the Wagoneer S’s credentials, versus market trends it’s got every chance. There’s clearly a risk, but there’s a risk with the amount of competition for every car you launch.”
He added that SUVs make up 50 per cent of the car market and where the Wagoneer S is going to sit there is plenty of competition but Jeep could “muscle in” on the competition.
The Wagoneer S is being seen as a rival to the Audi Q6 E-tron.
Jeep’s upcoming flagship motor will be followed by the Recon, an electric 4×4 parallel to the Wrangler with similar off-road capability, according to Autocar,
A third model will also follow but the identity of that has still to be confirmed, but according to the publication it is a new, electric Compass SUV and will be based on the same platform as the new Peugeot 3008 and Vauxhall Grandland.
Mr Cholmondeley said the Recon will be “very important” to Jeep too, ensuring it is “known across all segments as a 4×4 brand of repute”.
He said: “Good brands have big cars because they’re the halo models. So the Recon and Wagoneer S will be very important in the trajectory of the brand.
“We won’t succeed if we maintain with just the Avenger being successful.”
Mr Cholmondeley said the firm would reveal details about the third new model in November although he declined to confirm it would be the third-generation Compass.
He did say though that it “will be key to achieving the market share ambitions that we have”.
The Compass is due to sit above the Avenger in the future line-up of Jeeps, giving the manufacturer access to the UK’s most popular C-segment market.
Over the past decade, Jeep’s UK sales have fluctuated, often being dominated by small cars in its range, such as the Renegade and later the Avenger.
Mr Cholmondeley is hoping to be able to stabilise Jeep’s position by focusing on sustainable growth.
He said that Jeep’s “only limiting factor will be a lack of ambition because of our history”, saying: “Personally, I could see Jeep becoming a 2 per cent [market share] brand in the next five to 10 years.”
