SmackFu has the right answer: the question excludes key information relevant to making the comparison.
If you compare apples to apples-- that is, a 1988 Jeep Cherokee to a (hypothetical, as they are no longer made) 2003 Jeep Cherokee, it is fair to assume that the energy necessary to obtain raw materials and fabricate the vehicle are roughly the same. If anything, advancements in mining and steel-making, factory pollution controls, etc. might make the current manufacture more environmentally friendly. At any rate, if the manufactuing burdens are comparable, there can be little debate that the newer model will produce less pollution than the older model, due to legislated environmental standards and more efficient technology.
The hidden bias in your question is the assumption that the new car must be fabricated, without considering the (sunken) costs of manufacturing the old car. Or, alternatively, the present cost of junking the old car vs. the as-yet-unnecessary future cost of someday junking the new car. (Not to mention that you introduce another false dilemma in one of your responses-- although you buy a new car, you’re not responsible for having two cars-- the old and new-- on the road. It’s fair to assume that the car market is zero sum; that is, the person who buys your old car would, had you chosen not to sell, would directly or indirectly cause the purchase of the new car you elected not to buy.)
Thus, to respond to your initial question, if all things are considered equally, it would be greener to buy a new vehicle. Of course, this answer doesn’t weigh your financial condition, or any of the numerous other factors that go into making a practical decision.
As to your sharpened question of “how much energy and resources does it take to manufacture a car, and how much pollution is generated in the process,” the answer is… dunno. Here’s one link that purports to estimate the waste and pollution for the manufacture of an average car. Here’s another one with some rough estimates and percentages and whatnot. For what it’s worth here’s a quote from the latter:
Vehicle use has the largest overall environmental impact when compared to other vehicle life-cycle stages, because these quantities are emitted every year over the lifetime of a vehicle (typically 10 to 15 years).