BMW is Willing to Pay to Attract Customers from Other EV Brands

by Chris Teague

Published: March 6th, 2024

bmw is willing to pay to attract customers from other ev brands

Tesla might not be the most dominant EV maker in the world, but it’s on top of the market here in the United States. Legacy automakers like Ford and General Motors are in the hunt, but so far, no one has been able to topple Tesla’s top spot. BMW is hoping to take some of the shine off of Tesla’s crown with a new incentive that gives buyers a $1,000 discount to buy one of its new EVs.

Cars Direct reported that the BMW 2024 BEV Conquest Program includes several other brands, including Audi, Mercedes-Benz, Polestar, Porsche, Rivian, and Lucid. Ford Mustang Mach-E and VW ID.4 owners can also take advantage of the deal. BMW will pay owners of those brands $1,000 to switch to an i4, i5, or iX, though the discount only applies to specific models from most brands. Importantly, buyers don’t have to trade their current EV in to take advantage of the deal.

BMW already offers a $7,500 credit for leasing the i4 sedan, which can be combined with the conquest incentive. Cars Direct noted that the iX also comes with a significant discount of up to $9,900 in lease cash. That said, BMW’s EVs are not cheap, so the incentives should be a welcome move for hopeful buyers. While not currently eligible for federal tax credits, BMW’s EVs can be leased to receive the $7,500 discount others get.

The German automaker is far from the only one offering discounts and incentives to bolster EV demand. Kia recently announced $5,000 off the brand-new EV9, and General Motors has discounted some of its models that lost federal tax credit eligibility. At the same time, automakers like Ford have reported that hybrid sales are up in recent months, demonstrating that buyers want fuel economy benefits but don’t want to pay the higher price for an all-electric model.

[Image: BMW]

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Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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3 of 10 comments

AZFelix on Mar 06, 2024

This $1000 EV discount coupon is also available in a high-performance version made with weight saving carbon fiber and embossed with an 'M' logo. The exclusive package option is available with any new BMW EV for only $1500 (+tax) .

1 Reply
Kcflyer on Mar 06, 2024

Wouldn't it be cheaper to make them less ugly?

5 Reply
- Dr Mindbender on Mar 07, 2024
  
  LOLOLOL that's one of the funniest/truest comments I've read.
  
  1

Recent Comments

Bd2 Lexus is just a higher trim package Toyota. ^^
Tassos ONLY consider CIvics or Corollas, in their segment. NO DAMNED Hyundais, Kias, Nissans or esp Mitsus. Not even a Pretend-BMW Mazda. They may look cute but they SUCK.I always recommend Corollas to friends of mine who are not auto enthusiasts, even tho I never owed one, and owned a Civic Hatch 5 speed 1992 for 25 years. MANY follow my advice and are VERY happy. ALmost all are women.friends who believe they are auto enthusiasts would not listen to me anyway, and would never buy a Toyota. They are damned fools, on both counts.
Tassos since Oct 2016 I drive a 2007 E320 Bluetec and since April 2017 also a 2008 E320 Bluetec.Now I am in my summer palace deep in the Eurozone until end October and drive the 2008.Changing the considerable oils (10 quarts synthetic) twice cost me 80 and 70 euros. Same changes in the US on the 2007 cost me $219 at the dealers and $120 at Firestone.Changing the air filter cost 30 Euros, with labor, and there are two such filters (engine and cabin), and changing the fuel filter only 50 euros, while in the US they asked for... $400. You can safely bet I declined and told them what to do with their gold-plated filter. And when I changed it in Europe, I looked at the old one and it was clean as a whistle.A set of Continentals tires, installed etc, 300 EurosI can't remember anything else for the 2008. For the 2007, a brand new set of manual rec'd tires at Discount Tire with free rotations for life used up the $500 allowance the dealer gave me when I bought it (tires only had 5000 miles left on them then)So, as you can see, I spent less than even if I owned a Lexus instead, and probably less than all these poor devils here that brag about their alleged low cost Datsun-Mitsus and Hyundai-Kias.And that's THETRUTHABOUTCARS. My Cars,
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