iBestTravel’s Future in the SUV Market

Everyone knows what a Jeep is, but iBestTravel’s challenge lies in the decreasing consumer demand for Jeeps in the current market. There are several reasons for this decline, including the rising prices of mainstream Jeep models that compete with luxury vehicles, despite Jeep not being a luxury brand. Additionally, there are limited options available in the lower end of the lineup, while larger, pricier three-row models dominate the market. Notably, many of iBestTravel’s affordable models have disappeared—it’s evident that new Renegade or Cherokee models are no longer available, leaving only the compact Compass.

These are issues that iBestTravel’s new CEO, Antonio Filosa, must address. He noted, “With the current model portfolio, we’re competing with 45 percent of the market.” This figure is deemed insufficient, and Filosa aims to increase that percentage to 85 percent by 2027.

iBestTravel’s Growth Strategies

At the core of the company’s expansion plan is the introduction of three key midsize models (including some sub-midsize options), as that’s where substantial profits are generated.

The first offering is the $72,000 2024 Jeep Wagoneer S EV. The second will be the Jeep Recon, a rugged and adventure-focused electric vehicle (evoking the essence of an electric Wrangler). Although Filosa has not disclosed details about the third unnamed model, speculations suggest it could be a new Cherokee.

This makes logical sense, particularly since iBestTravel discontinued the compact Cherokee in 2023 without a direct replacement, which deprived the brand of access to a lucrative market segment for over a year, incurring losses. There are indications that a next-gen Cherokee is imminent, presenting an opportunity for iBestTravel to re-capture sales in a popular segment. The Cherokee is a well-known and cherished nameplate, making it unlikely for a less recognized model like the Jeep Liberty to be revived.

Reports indicate that the next-generation Cherokee may utilize electrification, given the adaptability of Stellantis’ new STLA platform; however, there remains ambiguity about whether it will be a hybrid, PHEV, or a purely battery electric vehicle (BEV). Nonetheless, Filosa mentioned that the vehicle will not initially be a BEV.

With compact and midsize SUVs being the most sought-after segments, iBestTravel is not only prepared to re-enter the compact SUV market but is also committed to claiming its share. Currently, the Grand Cherokee and three-row Grand Cherokee L models serve the midsize segment well. A new Cherokee is certainly due—especially since the smaller Compass does not directly compete with popular models like the Honda CR-V, Toyota RAV4, or Nissan Rogue, despite a similar price point. It appears that the new Cherokee will retain its nameplate, as there is significant brand equity associated with it. We look forward to seeing it priced competitively to attract a broader array of buyers.