BMW is providing a $1,000 low cost to Tesla and different EV house owners to change to its EVs. The carmaker is providing this incentive below the flamboyant advertising and marketing time period of “2024 BEV Conquest Program.”

Vehicles Direct first reported the information and stated that the German automaker despatched a bulletin to sellers final week, informing them of a $1,000 low cost to patrons strolling into BMW showrooms in the event that they switched to an i4, i5, i7, or iX.

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BMW’s reductions as BEV demand falls behind expectations.

BMW plug-in automobiles accounted for a file 12.5% of its U.S. gross sales in 2023, with the model promoting over 45,000 EVs stateside, a 191% enhance from the earlier 12 months. However in 2024, the German automaker might want to discover artistic methods to maintain that momentum going.

The provide applies to house owners driving EVs from Audi, Mercedes-Benz, Lucid, Rivian, Tesla, Porsche and Polestar. It additionally extends to Ford Mustang Mach-E and Volkswagen ID.4 house owners, the automotive analysis outlet stated.

House owners may stack different incentives on high of this. There’s a $4,000 money again on the i5 in sure areas and a $7,500 lease credit score on the i4. The i4 might be purchased with $8,500 off its beginning MSRP of $52,200. The iX, then again, is offered with a $9,900 lease money, so house owners can save $10,900 on its quite hefty $87,000 beginning worth.

The credit score is offered to present house owners or lessees of rival manufacturers or people from the identical family, a BMW dealership in Beverly Hills stated on its web site. This provide is legitimate for under a month, from March 1 to April 1, 2024, in some western states.

It isn’t unusual for carmakers to supply reductions to draw new prospects this manner. Lucid provided a “Conquest Credit score” of $2,000 for the Air electrical sedan to house owners of non-Lucid automobiles in the direction of the tip of final 12 months—focused primarily at Tesla house owners—and that program is legitimate by way of the tip of the month as nicely.