BMW offering $1,000 incentive to trade Tesla for one of its EVs

It's a nice gesture – but is it enough?
  • BMW is offering a new type of incentive to encourage people to trade in their Tesla for one its own EVs
  • The offer also applies to owners of various other brands, including Porsche, Rivian, and Lucid
  • It is available to US buyers, who can also benefit from tax credits

Published on Mar 7, 2024 at 5:25PM (UTC+4)

Last updated on Mar 7, 2024 at 9:35PM (UTC+4)

Edited by Adam Gray

BMW is attempting a new ‘trick’ to convince Tesla owners to abandon their ‘Musk-mobile’ and switch to BMW.

And it’s pretty straightforward: they’re offering actual cash money.

READ MORE: Bugatti Veyron is spotted being loaded on to Emirates flight, showing unfathomable display of wealth

The idea is super uncomplicated and simple.

In short, BMW will guarantee an additional $1,000 discount to buyers who decide to trade in their electric vehicles made by other car manufacturers.

The offer applies to owners of any vehicle built by Tesla, Audi, Mercedes, Lucid, Rivian, Porsche, and Polestar.

Owners of the Ford Mustang Mach-E and Volkswagen ID.4 SUV are also eligible.

The ‘2024 BEV Conquest Program’ – this is what BMW calls this initiative – is available for would-be buyers of the BMW i4, i5, i7, and iX.

The offer is available to US buyers only, who can also benefit from various Federal and local tax incentives, including the one that still hasn’t decided whether the Tesla Model Y is an SUV or not.

Jokes aside, the timing is certainly right, because electric cars aren’t exactly taking off as expected.

For every brand that unveils a new one – Dodge is the latest with the new Charger Daytona EV, the first electric muscle car – there’s always another one that’s not entirely sure this is the way to go.

Even though BMW’s idea is certainly commendable and generous, we’re not entirely sure it’s enough to shift the balance.

The thing is, most of the aforementioned vehicles – from the Mustang Mach-E to the Porsche Taycan – cost way more than $50,000.

In some cases, with certain range-topping models from Tesla or Lucid, they go for six figures.

With that in mind, a $1,000 incentive is maybe not going to be enough to make a difference in this market.

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