In an attempt to boost its electric vehicle market share, BMW announced its 2024 BEV Conquest Program, aimed at persuading current EV owners to transition to BMW's electric lineup. The initiative offers a $1,000 incentive for customers who trade in their non-BMW electric vehicles for a new BMW i4, i5 or iX model.
This program targets owners of EVs from a range of manufacturers, including Tesla, Ford, Volkswagen, Rivian, Lucid, Polestar, Audi and Mercedes-Benz. The $1,000 incentive can be combined with other BMW discounts.
For example, BMW is currently providing a $7,500 lease credit for the 2024 BMW i4 and $9,900 in lease cash for the BMW iX. When these offers are combined with the BEV Conquest Program, customers could see reductions up to $8,500 for the i4 and $10,900 for the iX.
BMW's initiative is part of a growing trend among automakers to attract customers from competitors, especially in the burgeoning EV market. The company, an early entrant into the EV space with models like the BMW i3, is intensifying efforts to gain a stronger foothold against competitors like Tesla.
BMW is not alone in this strategy. Lucid Motors, for instance, recently launched a $2,000 conquest bonus for Tesla and other EV owners.
