BMW is trying to entice drivers who’ve already embraced electric vehicles to join its ranks with its new 2024 BEV Conquest Program. This offer grants drivers from rival brands an extra $1,000 discount to slide behind the wheel of one of BMW’s EV models, such as the i4, i5, or iX.
The program doesn’t solely focus on EV makers such as Rivian, Polestar, Lucid, and Tesla, but also encompasses traditional automakers. BMW intends to extend the discount to owners of its competitors’ vehicles, including Mercedes, Audi, and Porsche, as well as popular mainstream models such as the VW ID.4 and the Ford Mustang Mach-E.
Even better, BMW allows owners to stack incentives, as reported by Cars Direct. For instance, those interested in leasing the i4 can already benefit from a $7,500 credit. By trading in a vehicle like a Tesla Model 3, they could potentially save up to $8,500.
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Those eyeing the iX can pocket even greater savings. Currently, the electric SUV comes with lease credits of up to $9,900. So, if a customer switches from a Polestar 2, for example, they could potentially save up to $10,900.
However, the BMW 2024 BEV Conquest Program does have some limits. For starters, the deal will only be good until April 1. The offer also appears to be limited to customers in western states, which means that EV owners on the east coast will have to make do with the regular incentives.
While it’s unclear how many owners will be tempted by this deal, there are plenty of people with older EVs who may be considering a new vehicle. Since the majority of EV owners are driving Teslas, that’s likely the demographic that will be most affected by this deal, but there are plenty of older Audi e-trons on the road, and their owners may be ready for a change.
The strategy may also be a response to slowing growth in the EV segment. Although EV buyers are still making the switch from the internal combustion vehicles, it’s not happening as fast as some automakers projected, and BMW may be targeting existing EV owners to help keep sales momentum up.
