BMW is offering electric vehicle customers from other brands a $1,000 discount if they purchase select models until April 1, 2024.
For the next three weeks, the automaker’s new “2024 BEV Conquest Program,” available in Western states, will award buyers or lease-holders of any Tesla, Rivian, Polestar, Lucid, Porsche, Mercedes-Benz, and Audi models who purchase an eligible BMW product with a $1,000 cash-back offer. The discount is also open to drivers of the Ford Mach-E and Volkswagen ID.4, according to Cars Direct, who broke the story Monday, March 4.
Only the BMW i4, i5, i7, and iX are available for regional promotion. However, eligible buyers have the opportunity to combine the discount with government incentives, including the $7,500 electric vehicle lease-holder tax credit available for the i4, or with other cash-back offers provided by the automaker, including $4,000 off i5 purchases and $9,900 off iX leases.
Electric vehicle sales rose 50% in 2023, thanks primarily to Tesla, which accounted for more than half of the market’s growth. But BMW’s own performance was surprisingly strong last year, as it drove 8% of the increase, making it the market’s third-highest contributor, according to J.D. Power.
That being said, many of the challenges that limited electric vehicle sales in 2023 are expected to become even more obstructive in the coming months. Part of the reason 2024 is projected to be a challenging year for battery-powered car manufacturers is a recent revision to the Biden Administration’s tax credit system, which heavily limits which models can qualify for a government incentive. BMW was one of several automakers to enter January without a single qualifying electric car, making the new discount timely.
