In 1998, Jeep introduced a limited-edition 5.9L Limited model for the Grand Cherokee. It was available with the 5.9L Magnum Engine V8 with 250 horsepower. It was only available in four-wheel-drive with a four-speed automatic transmission.The engine and model were only available for the 1998 model year.his is the first generation. For overview of all models, see Jeep Grand Cherokee. The Jeep Grand Cherokee (ZJ) , manufactured from 1992 to 1998 by Jeep, originally came in three trim levels: base, Laredo, and Limited.