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Jeep aims for a 50% increase in plug-in hybrid SUV sales in 2024

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  • Jeep aims to increase its U.S. PHEV sales by 50% in 2024, targeting 160,000 to 170,000 units.
  • The brand is launching its first all-electric SUVs, starting with the Wagoneer S EV.
  • Jeep's strategy includes a mix of traditional hybrids, plug-in hybrids, and all-electric models to cater to diverse consumer needs.

Jeep, a brand synonymous with rugged off-road vehicles, is making a significant shift towards electrification. In 2024, Jeep plans to increase its U.S. sales of plug-in hybrid electric vehicles (PHEVs) by as much as 50%, targeting between 160,000 and 170,000 units. This ambitious goal underscores Jeep's commitment to bridging the gap between its traditional gas-guzzling SUVs and the emerging market of all-electric vehicles.

Jeep's CEO, Antonio Filosa, emphasized the importance of flexibility in the current automotive market. "It’s the best time to be flexible, as we are," Filosa stated during an interview after unveiling the brand’s new electric vehicle in New York. "One of the pillars of growth for the market is going to be freedom of choice". This approach is evident in Jeep's diverse lineup, which includes traditional hybrids, plug-in hybrids, and upcoming all-electric models.

The Role of PHEVs

Plug-in hybrids, which combine an internal combustion engine with electric vehicle technologies, are seen as a crucial step towards full electrification. These vehicles offer the benefits of electric driving for a certain number of miles, with the reassurance of a gasoline engine for longer trips. Jeep's PHEV sales last year totaled 113,113 units, including 67,429 Jeep Wranglers and 45,684 Jeep Grand Cherokees. Through the first quarter of this year, sales have already reached 31,750 units, up 47% from the same period last year.

New Models on the Horizon

Jeep's electrification journey is set to continue with the launch of its first all-electric SUVs in the U.S., starting with the Wagoneer S EV. This will be followed by a Wrangler-like EV called the Recon and a replacement for the discontinued Cherokee midsize SUV in the first half of next year. Additionally, Jeep plans to introduce new plug-in "range-extender" models to its gas-powered Wagoneer and Grand Wagoneer large SUVs in 2025.

Market Response and Future Plans

Both Antonio Filosa and Stellantis Chief Technology Officer Ned Curic are optimistic about the market's response to Jeep's hybrid and electric offerings. "We’re deciding at the moment how will the market respond to our hybrids," Curic mentioned. "We have a good mix on our roadmap between EV, PHEV, and internal combustion engine". This strategic mix is designed to cater to a wide range of consumer preferences and regulatory requirements.

Jeep's ambitious target to grow its plug-in hybrid SUV sales by 50% in 2024 is a testament to the brand's adaptability and forward-thinking approach. By offering a variety of electrified options, Jeep aims to meet the evolving demands of consumers and contribute to a more sustainable automotive future. As the market for electric and hybrid vehicles continues to expand, Jeep's commitment to innovation and flexibility positions it well for success.

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