BMW is offering hefty EV rebates through April

2024 BMW i5 eDrive40

While none of BMW’s current EV lineup is particularly affordable, the automaker is taking steps to attract buyers that might balk at the entry-level i4’s more than $52,000 starting price. CarsDirect noticed that all BMW EVs come with rebates in April, with up to $7,500 off some models.

The 2024 i4 and i5 see a $5,000 rebate until the end of the month, while the significantly more expensive i7 and iX get $7,500 shaved off the top. Buyers may also qualify for a loyalty discount of $1,000 or $1,500 on the i4 and i5, respectively. The i7 offers up to $3,000 in loyalty discounts. Rebates apply with a variety of payment methods, including financing through BMW Financial Services, cash purchases, and other lenders.

BMW’s leases bring the most generous discounts, with a $7,500 lease rebate on the i4 and i5. The i7 and iX return the best deal, giving buyers a $9,900 lease credit and up to $13,000 if they qualify for the loyalty discount.

Electric vehicle pricing is a significant hurdle for hopeful buyers, as new models remain more expensive than comparable gas, hybrid, or PHEV variants. BMW’s vehicles also miss out on federal tax credits, which now give buyers up to $7,500 off the purchase price at the time of sale, rather than the convoluted year-end system used before. The automaker has detailed plans to build at least six EVs at its Spartanburg, S.C., facility by the end of the decade, however, which would bring at least partial eligibility for credits, assuming the rules don’t change several more times before then.

Though the discounts could indicate slowing EV sales, BMW has seen surging sales numbers when others have taken a tumble. It’s also expected to debut nine new EVs through 2025, which would give it an expansive electric product offering. That said, it’s almost a given that some of those won’t make it stateside.

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