The fourth and current generation of the Dodge Caravan starts in 2001. Most changes occur in the engine and interior design, while the exterior looks basically the same as in previous models. In the face of tough competition from Honda Odyssey and Toyota Sienna, Chrysler saw some of its share in the minivan market drop, particularly in terms of interior features, although it still tested better for handling and suspension.

Trim options for the 2001 Dodge Caravan are now limited to SE and Sport in the shorter wheelbase, and SE, Sport, and ES in the longer wheelbase Grand Caravans. While the 2.4-liter, 4-cylinder engine remains standard for base models, the 3.0 V6 is gone. In addition, the 3.3 and 3.8-liter engines receive an upgrade to 180-horsepower and 215-horsepower respectively.

Upgrades include larger headlights and wraparound taillights. A first for minivans is the power sliding door and power rear liftgate, as well as a removable center console with internal power source. The console can be placed between the front or middle seats. The AutoStick auto/manual option in the Grand ES adds a separate control for manual gear shifting. Side airbags are optional. Other niceties include a pop-up rear organizing shelf that can securely hold up to six bags of groceries, and a cell phone and charger bracket on the front console.