The 2024 BMW EVs have reportedly received a price cut in the US, with the i7 seeing a $7,500 price cut.

Electric car manufacturers are reducing the price of their cars, which is nothing new. A recent example of this phenomenon is Tesla reducing the price of its cars in mainland China under pressure from Chinese companies such as BYD. Now we have another EV price cut, but this time in the US, where BMW has reportedly informed dealers about discounts on its 2024 EV lineup.

The information is presented to us by CarsDirect (via Electrek) notes that the German manufacturer is offering an unconditional $5,000 to $7,500 discount in April. The biggest discount of $7,500 is valid on the new BMW i7 and iX 2024, when customers of BMW i4 and the i5 EV, cheaper, could benefit from a $5,000 discount. These discounts apply whether or not you finance your electric vehicle through BMW Financial Services.

To put BMW EV discounts in perspective, the 2024 BMW i7 has a starting price of $105,700 while the 2024 iX, i5 and i4 cost $87,100, $66,800 and $52,200, respectively.

Interestingly, if you want to maximize savings, leasing seems to be the best way to go, as CarsDirect reports that buyers can get $9,900 off the i7/iX and, not insignificant but still impressive, a $5,500 savings on the i4. and i5. Combined with the aforementioned loyalty rewards, you can lease a BMW i7 for a whopping $13,000.

According to the data provided by Cox MotorsBMW has a market share of 2.1% in the US in the automotive sector. EV in the first quarter of 2024 and a total of 10,713 vehicles were sold. Only time will tell to what extent the latest EV cuts will help the company increase these numbers in the future.