BMW’s 2024 BEV Conquest: $1,000 Discount for EV Owners

BMW offers a $1,000 discount to EV owners from rival brands, aiming to boost its electric lineup sales with the 2024 BEV Conquest Program.

BMW is rolling out the red carpet for electric vehicle enthusiasts from other brands with its 2024 BEV Conquest Program. This initiative offers a $1,000 discount to drivers looking to switch to a BMW EV, such as the i4, i5, or iX, from competing brands including not just electric-focused companies like Rivian, Polestar, Lucid, and Tesla, but also established players like Mercedes, Audi, Porsche, and even those driving popular models like the VW ID.4 and Ford Mustang Mach-E.

Furthermore, BMW is sweetening the deal by allowing customers to combine this offer with existing incentives. For example, i4 lessees can already avail of a $7,500 credit, meaning a switch from a vehicle such as a Tesla Model 3 could see savings of up to $8,500. iX enthusiasts stand to gain even more, with lease credits up to $9,900, potentially pushing savings to $10,900 for those trading in a car like the Polestar 2.

However, there are some caveats to this offer. The BEV Conquest Program is set to expire on April 1 and is currently restricted to customers in the western states, leaving those on the east coast to rely on standard incentives.

It remains to be seen how many EV owners will be swayed by this promotion, but it could be an attractive proposition for those with older EVs looking for an upgrade. Given the large number of Tesla drivers, they might form a significant portion of the target audience, although owners of older models like the Audi e-tron could also be enticed to make the switch.

This move by BMW may also be a strategic play to counteract the slower-than-expected growth in the EV market. By targeting current EV owners, BMW aims to maintain its sales momentum in a competitive landscape.