Jeep’s new electric flagship, the Wagoneer S, has the potential to be more than just a niche product and could play a significant role in the brand’s growth in the UK market, according to Kris Cholmondeley, the new UK boss of Jeep. Currently, Jeep only holds about 0.5% of the UK market share, with the Avenger accounting for the majority of sales. However, the larger and more upmarket Grand Cherokee has struggled to attract buyers. Cholmondeley believes that the Wagoneer S can succeed where the Grand Cherokee has failed, despite its expected price of around £100,000.
Cholmondeley sees the Wagoneer S as a brilliant car that can tap into a segment with ample market opportunity. He acknowledges the risk involved in launching a new car, but believes that with the SUV market accounting for 50% of car sales and a strong competition presence in that segment, Jeep has the potential to make a mark and gain market share.
In addition to the Wagoneer S, Jeep plans to introduce two more electric models in the next 18 months. The first is the Recon, an electric 4×4 that will parallel the Wrangler in terms of off-road ability. Cholmondeley emphasizes the importance of the Recon in establishing Jeep as a reputable 4×4 brand across all segments. The third model, which is yet to be confirmed but speculated to be an electric Compass SUV, will further expand Jeep’s lineup and give the brand access to the popular C-segment market.
Cholmondeley reveals that Jeep will unveil another new model in November, which he believes will be crucial in achieving the brand’s market share ambitions. While he doesn’t confirm that it will be the third-generation Compass, he highlights the significance of the model in the future lineup.
Jeep’s UK sales have been inconsistent in the past, often dominated by smaller cars like the Avenger and Renegade. Cholmondeley aims to stabilize sales and focus on sustainable growth that protects residual values. He believes that Jeep’s only limiting factor will be a lack of ambition due to its history and expresses his personal vision of Jeep becoming a 2% market share brand in the next five to ten years.
Overall, Jeep is banking on its new electric models, particularly the Wagoneer S, to drive growth in the UK market. With a strong focus on SUVs and expanding into popular segments, Jeep aims to increase its market share and establish itself as a reputable 4×4 brand across all segments. Cholmondeley’s leadership and ambition will be crucial in achieving these goals, and he believes that Jeep has the potential to become a major player in the UK automotive industry.