‘Did you know that this car came out?’: Expert says dealerships are full of this new Jeep model. Then he reveals the real reason no one’s buying it

Stellantis bet big on electrification with the Jeep Wagoneer S, a high-powered, high-priced luxury SUV for the electric vehicle (EV) era. Instead, they're sitting unsold at dealerships due to consumer EV hesitation, high costs, and a shift in priorities.

Auto-focused TikTok creator Chris Pearce (@thechristopherpearce) dishes on the Jeep Wagoneer S problems, with thousands languishing on dealer lots. In a new clip, we see price tags showing reductions of $10,000, which isn't convincing buyers.

“It’s just sitting unsold at dealerships, with some markdowns hitting $10K-$12K,” Pearce tells us in the clip that’s been viewed more than 275,000 times.

A costly misstep for Jeep Wagoneer S

Stellantis's latest move into the EV market with the Jeep Wagoneer S was intended as a milestone. It was conceived as a luxurious, high-performance SUV boasting 600 horsepower and premium interior. Instead of a fast mover, the EV seems to have hit a roadblock after only a few months of release.

Pearce tells us the Jeep Wagoneer S is languishing on dealership lots, even with substantial discounts ranging from $10,000 to $12,000. Those deeper discounts come after an initial $5,000 markdown was announced in late January.

The Jeep Wagoneer S comes with a Manufacturer's Suggested Retail Price starting at just over $70,000—a hefty sum, especially in today's economic climate. Even with the price lowered down to around $58,000, consumers remain hesitant. This pricing places the Wagoneer S in direct competition with established EV brands like Tesla and Rivian, as well as luxury hybrid vehicles.

Given that SUVs and off-road vehicles are Jeep's traditional stronghold, one has to wonder: Is $60,000 or more too pricey for an electrified Jeep?​

Slowdown in EV adoption continues

The challenges faced by the Wagoneer S aren't unique to Jeep; they're indicative of broader trends in the EV market. It’s maybe best to think of the state of EV sales in the U.S. as a question of “Is the glass half full, or half empty?” In the half-full view, EV sales in 2024 reached a record 1.3 million units, with Tesla models accounting for three of the five best-selling models.

The half-empty view? Major automakers such as GM are lowering EV production targets to account for “slow demand” and the fact that EVs are less reliable in terms of profitability that traditional gasoline-fueled vehicles.

There’s a variety of opinions on the factors that contribute to EV hesitation among consumers:​

• Charging Infrastructure Limitations: The availability of charging stations remains inconsistent, making long-distance travel daunting for potential EV buyers.​
• Range Anxiety: Despite advancements, many consumers fear that EVs won't meet their daily driving needs without frequent recharging.​
• High Prices: Even with government incentives, the upfront cost of EVs can be prohibitive for many buyers.​
• Declining Used EV Prices: The rapid depreciation of used EVs makes new models less attractive investments.​

These factors paint a challenging picture for entrants like the Wagoneer S as consumers weigh the benefits against the costs, and potential inconveniences of transitioning to electric vehicles.

Green vs. gas: who wins?

​Of course, part of the intended lure of EVs is the green factor of reducing carbon emissions as a whole. But drivers do have to weigh the ecological green versus the green in their pocket. Let's break it down.

Electricity vs. Gasoline: Electricity rates are generally more stable and often cheaper than gasoline. Plus, many EV owners charge their cars overnight at home, taking advantage of off-peak rates. According to the Alternative Fuels Data Center, EVs can reduce fuel costs dramatically due to their high efficiency.

Maintenance: EVs are like the minimalist artists of the car world, with fewer moving parts than traditional vehicles. No engine oil changes, no spark plugs to replace, and brake wear is reduced thanks to regenerative braking. Consumer Reports found that EVs can cut repair and maintenance costs by 50% compared to gasoline-powered cars.

Total Cost of Ownership: While EVs might have a higher sticker price, the savings over time can make up for it. Lower fuel and maintenance costs contribute to a reduced total cost of ownership. The U.S. Department of Energy notes that EVs are more efficient and can lead to significant fuel cost savings.

Commenters on Pearce’s clip had a bearish view on both EVs as a whole, and Jeep’s parent company.

“Less about it being an EV and more about it being a Stellantis product,” one of them wrote.

Or there was a comparison shopper who noted, “Tesla is offering $299 lease deals for a model Y. Why would I need this car?”

And at least one observer said the Wagoneer S would need more dramatic price cuts.

“Nobody is buying ANYTHING. These will have to come down to $40k-$50k range before anybody can afford them,” they wrote.

@thechristopherpearce Crazy discounts on the Jeep Wagoneer S #carnews ♬ original sound - Chris Pearce

The Daily Dot reached out to Pearce via direct message, and to Stellantis via email.

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