Fiat Chrysler Automobiles NV (FCHA.MI) on Thursday disclosed its new group of Jeep Wagoneer and Grand Wagoneer sport utility vehicles, and the top of the Jeep brand revealed to Reuters he needs to match or beat the sales of opponent models made by General Motors Co (GM.N).
From a luxury picture standpoint, “we want to beat Range Rover,” global Jeep brand President Christian Meunier said in an interview. “From a business standpoint, we want to beat GMC and Cadillac.”
GM’s GMC Yukon and Cadillac Escalade model lines are leading sellers in the North American large, luxury SUV segment. A year ago, GMC sold about 75,000 Yukons. Cadillac sold 35,424 Escalades, while Ford’s Lincoln brand sold 18,656 Navigators in 2019.
Luxury sport utilities based on the underpinnings of enormous pickup trucks represent one of the most profitable segments in the global auto industry. Wagoneer and Grand Wagoneer costs could run from $60,000 to $100,000, Meunier said. That is similar to the Escalade and Yukon lineups.
Most such vehicles are sold in North America and in certain Middle Eastern markets. Fiat Chrysler’s Jeep brand has not had a section in this segment for decades. In Jeep’s nonappearance, GM’s Cadillac Escalade and GMC Yukon and Ford’s Expedition and Lincoln Navigator models have ruled the section in North America.
Jaguar Land Rover’s Range Rover models have characterized the premium finish of the huge luxury SUV market in North America and in different markets.
Vehicles as extensive as the Grand Wagoneer, which is gotten from a Ram pickup truck, are uncommon in China, the world’s biggest market. The Wagoneer and Grand Wagoneer will be built in a factory in suburban Detroit – a handicap for selling in China.
Nonetheless, Meunier said, “there’s an opportunity for China which we will test in the next few weeks.”