From a DaimlerChrysler press release:

After successfully implementing a new pricing strategy for the 2002 Jeep® lineup, the Chrysler Group announces the addition of a new Jeep Grand Cherokee model. The new Laredo Sport model is strategically placed in the heart of the Upper Middle Sport-Utility segment where Jeep Grand Cherokee competes.

"The award-winning Jeep Grand Cherokee provides legendary Jeep capability with a new level of refinement for 2002," said Tom Marinelli, Vice President, Chrysler/Jeep Global Brand Center, DaimlerChrysler Corporation. "With our new Laredo Sport model, we'll attract new sport utility buyers in an extremely active part of the segment, where transaction prices range from $28,000 to $29,000."

The Laredo Sport uses the Chrysler and Dodge minivan eX formula announced earlier this year to create a well-equipped model at a great price. Standard on this 4.0-liter Power Tech I-6 model are premium features including leather seats, an Infinity® sound system and 16-inch wheels.

Arriving in dealerships by mid-November, the manufacturer's suggested retail price (MSRP) for a two-wheel drive Jeep Grand Cherokee Laredo Sport model is $26,025, including $600 destination. The MSRP for a four-wheel drive model is $27,995, including destination.

"Because of its straight-forward nature, Laredo Sport will be extremely easy to shop and easy to buy, especially for the ever-increasing number of customers who use the internet throughout the shopping process," Marinelli continued. "Approximately 65 percent of Grand Cherokee buyers use the internet to gather information before visiting their local dealers to compare and make their purchase. With this initiative, we are offering customers an attractive, complete, high-value model in a critical part of the segment."

After successfully launching the all-new Jeep Liberty with a starting price well under $20,000, the Chrysler Group announced a new pricing strategy for its 2002 Jeep Grand Cherokee and Jeep Wrangler models. The company reduced Jeep Grand Cherokee pricing $2,000 across the board, while making the 4.0-liter Wrangler more affordable with the all-new Jeep Wrangler X model.

Jeep Grand Cherokee is manufactured in Detroit, Michigan and Graz, Austria. Jeep Liberty and Jeep Wrangler are built in Toledo, Ohio.

Following is a full range of current pricing for the Jeep lineup.

Jeep MSRP Dest
Wrangler SE $15,230 $585
Wrangler X $18,410 $585
Wrangler Sport $20,080 $585
Wrangler Sahara $23,450 $585
Liberty Sport 2WD $16,450 $585
Liberty Sport 4WD $17,960 $585
Liberty Limited 2WD $21,260 $585
Liberty Limited 4WD $22,770 $585
Grand Cherokee Laredo 2WD $25,425 $600
Grand Cherokee Laredo Sport 2WD $25,425 $600
Grand Cherokee Laredo 4WD $27,395 $600
Grand Cherokee Laredo Sport 4WD $27,395 $600
Grand Cherokee Limited 2WD $30,270 $600
Grand Cherokee Limited 4WD $32,700 $600
Grand Cherokee Overland 4WD $36,830 $600