BMW offering $13,000 discounts on EVs in the US but you only have days to apply – certain drivers can get extra discount | 38694W5 | 2024-04-22 12:08:01
BMW is looking to bump its electric vehicle sales by slashing up to $13,000 off vehicle price tags, but the clock is ticking.
The German luxury automaker reportedly reduced prices on its fleet of EVs by thousands of dollars – select BMW buyers will get thousands of extra discounts.
Prices were cut in a bulletin sent to dealers, according to documents obtained by Cars Direct.
The bulletin offered discounted rebates on the company's all-electric vehicles – the i4, i5, i7, and iX.
Rebates range from $5,000 to $7,500, with a way to increase savings to nearly $13,000 off the total retail price of the car.
But the offers only last until April 30, Cars Direct reported.
The 2024 BMW i4 and i5 sedans offer a $5,000 purchase incentive, available as either a Loan Credit or a "Non-FS Credit."
Non-FS credits are for buyers who pay cash for the transaction. It doesn't require drivers to use BMW financing.
The larger 2024 BMW i7 sedan and iX SUV feature a $7,500 purchase incentive, along with loyalty discounts of up to $3,000.
Drivers who are looking to lease an electrified BMW will get even more money off, according to the site.
The car manufacturer is offering a $7,500 lease credit on the i4 and i5, and up to $9,900 off a i7 and iX lease.
Leasees can also grab the $3,000 loyalty discounts on the cars, bringing the top-end discounts to $12,900.
<!-- End of Brightcove Player --> A representative for BMW told The U.S. Sun consumer interest in their battery electric vehicles "remains strong."
The company said it doesn't comment on pricing.
EV TAKEOFF
After months of blistering headlines, the EV market had a spate of wins in the first quarter of 2024.
BMW and its subsidiaries reported delivering 82,700 fully electric cars globally in the first quarter of the year.
The sales included the company's one-millionth fully electric vehicle.
<p class="article__content--intro"> Pros and cons of EVs vs gasoline-powered vehicles </p> </div> </div> In the US, BMW reported 10,713 EV sales in the US – the number represented 12.7% of the company's sales volume across the country.
Several other EV manufacturers reported sales wins in the first quarter.
Rivian, Lucid, Cadillac, and Ford all reported record EV sales in the first quarter.
Meanwhile, Tesla reported a slowdown in global growth.
The shift in sales showed potential cracks in Tesla's EV market dominance as other companies continue to ramp up production.
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