BMW Launches Huge Discount Across Entire EV Lineup
BMW has launched a huge discount across its entire EV lineup, offering impressive purchase credits and attractive financing options for the month of October. This immediate and comprehensive response comes in the wake of the discontinued federal EV tax credit, mirroring similar moves by other automakers like Hyundai, which recently slashed Ioniq 5 prices. BMW’s new incentive package provides a $7,500 purchase credit—precisely matching the value of the maximum federal tax credit—for its i4, i5, iX, and i7 EVs, valid exclusively in October.
A Good Month to Buy a BMW EV: $7,500 Purchase Credit
Previously, BMW offered a $7,500 purchase credit specifically for the luxurious i7 sedan earlier this year. However, this new incentive significantly expands that offering to cover its entire EV portfolio. This makes October an opportune time for customers considering a BMW electric vehicle.
BMW’s EV range spans from the accessible i4 four-door coupe (starting at $57,900) to the ultra-luxury i7 full-size sedan (up to $168,500 for the M70 variant). In between are the i5 midsize sedan (starting at $67,100) and the iX midsize SUV (starting at $75,150). The highly anticipated all-new iX3 revealed recently is not yet on sale.
The $7,500 purchase credit makes the base i4 eDrive40 particularly appealing, effectively reducing its price to $50,400. This model offers 335 horsepower and an impressive range of up to 318 miles, combined with BMW’s signature high-end interior and sporty handling.
Important Details for the Purchase Credit:
- Validity: This deal is valid only through October 31.
- Financing Requirement: The credit is exclusively available to customers financing via BMW Financial Services.
- Delivery Deadline: Qualifying customers must also take delivery by October 31.
Beyond the Purchase Credit: Additional October Incentives
BMW’s October incentives are not limited to the $7,500 purchase credit. The automaker is also offering several other attractive deals:
- 2.99% APR Financing: For 60 months on selected EV models and trims. This offer is also valid through October and applies to:
- i4 eDrive40
- i4 xDrive40
- i4 M50
- i5 M60
- i7 eDrive50
- i7 eDrive60
- i70 M70
- Loyalty Credit: An additional $2,000 discount is available as a loyalty credit for qualifying customers who lease or finance through BMW. For the i7 exclusively, this loyalty credit increases to $5,000. This offer is valid for customers who have leased or owned a BMW in the last 12 months, with proof of ownership required.
These comprehensive incentives come after BMW increased prices on many of its models by up to $2,500 back in July, though EVs were not affected by those specific increases, which were likely influenced by tariffs on European brands.
Implications and Market Context
The introduction of such significant incentives hints at a potential slowdown in BMW’s EV sales, though precise figures are difficult to ascertain as the company often lumps EV sales with gas-powered models (e.g., 5 Series/i5 sales are reported as a single figure). However, BMW did confirm that its overall electrified sales (including hybrids) dropped 2.8% in Q3, and sales of the iX SUV were notably down by 33%.
This aggressive push with discounts and financing signals BMW’s proactive strategy to maintain competitiveness and stimulate demand in a rapidly evolving EV market, especially as consumers adjust to the absence of federal tax credits.
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