BMW has unveiled its 2024 BEV Conquest Program, an innovative initiative aiming to entice current electric vehicle (EV) owners to make the switch to BMW’s all-electric lineup. The program extends a $1,000 incentive to eligible individuals opting to trade in their current EVs for a brand-new BMW i4, i5, or iX.
The 2024 BEV Conquest Program by BMW encompasses a diverse range of models from various electric vehicle manufacturers, including rivals such as Tesla, Ford, Volkswagen, Rivian, Lucid, Polestar, Audi, and Mercedes-Benz. Remarkably, participants in the program have the opportunity to stack the $1,000 incentive with other existing BMW incentives, potentially leading to substantial discounts on their chosen all-electric BMW models.
When combined with ongoing BMW incentives, the 2024 BEV Conquest Program could yield notable savings for consumers. For instance, BMW currently offers a $7,500 lease credit for the 2024 BMW i4, while the BMW iX boasts a $9,900 lease cash incentive. With the additional $1,000 from the BEV Conquest Program, i4 buyers could enjoy savings of up to $8,500, and iX buyers could potentially save up to $10,900, according to a Cars Direct report.
What sets the 2024 BEV Conquest Program apart is its unique focus on existing electric car owners. While conquest programs are traditionally employed to attract customers from rival brands, BMW’s strategy specifically targets those already in the electric vehicle market. This strategic move could prove beneficial for BMW, which has yet to achieve significant success in its electric vehicle program, despite being an early adopter with the introduction of the BMW i3, competing against the original Tesla Model S in 2013.
Interestingly, BMW is not the only automaker offering incentives to entice Tesla and other EV owners to switch vehicles. In December, reports surfaced about Lucid’s introduction of a $2,000 conquest bonus applicable to the purchase or lease of the luxury Lucid Air sedan. Similar to BMW’s initiative, Lucid’s program covered a range of cars from brands like BMW, Porsche, and Mercedes-Benz, among others. The industry’s increasing focus on enticing existing EV owners marks a strategic shift in the competition for market share in the electric vehicle sector.
