Editor's note: Earlier versions of this story incorrectly reported a price for the 2011 Jeep Patriot. Chrysler has not yet announced pricing for the 2011 model.
The small Jeep arriving in 2013 will open the brand to a wider range of buyers because it is expected to be the brand's lowest-priced model, Jeep's top executive said today.
The unnamed vehicle also will be Jeep's smallest vehicle, and share a Fiat platform and powertrain. Jeep announced plans for the vehicle last November.
While the main goal is to develop a B-segment Jeep for global markets outside North America, Jeep brand CEO Michael Manley said the new vehicle will be sold here and is expected to attract two demographic groups to the brand.
Because of the pricing, the new vehicle “would open the brand to a much younger buyer” here, Manley said in an interview.
Today, the lowest-priced Jeep is the 2010 Patriot, which is priced at $15,995 for the front-wheel-drive model, including shipping. The all-wheel-drive model costs $17,495, including shipping.
The base 2011 Wrangler stickers for $22,795. Manley did not reveal the pricing strategy for the new vehicle.
Manley was interviewed during a press event for the Jeep 2011 model line at the Chrysler Group's headquarters in suburban Detroit.
Additionally, the new Jeep would be targeted at baby boomers who left the brand because another vehicle was more practical for their families, such as a minivan or crossover.
“You will see people returning to the [brand] later in their life” because of the pricing strategy for the new vehicle, he said.
Manley said that although the new model “will be significantly smaller than a Wrangler, it will be a true Jeep. You will get capability, safety and value.”