The 2024 BMW EVs are said to receive a significant discount in the US, with the i7 receiving a $7,500 price cut.

EV manufacturers slashing the prices of their vehicles is nothing new. A recent example of this phenomenon is Tesla reducing the price of its cars in mainland China due to the pressure provided by Chinese companies such as BYD. Now we’ve got another EV price cut, but this time in the US, where BMW has reportedly informed dealers about discounts on its 2024 EV system.

The news comes to us courtesy of CarsDirect (via Electrek), explains that the German automaker will offer a discount of $5,000 to $7,500, unconditionally, in the month of April. The biggest discount, equivalent to $7,500, is valid on the new BMW i7 e iX while cheap customers BMW i4 and the i5 EV can get a $5,000 discount. These discounts apply whether you finance the EV using BMW Financial Services or not.

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 appears to be the best option, as CarsDirect reports that buyers can get a whopping $9,900 off the i7/iX and, to a lesser but still impressive, $5,500 savings on the i4 and. i5. Combined with the loyalty rewards above, you can lease a BMW i7 for a whopping $13,000.

According to the data provided by Cox MotorsbMW took 2.1% of the US EV in Q1 2024, and a total of 10,713 vehicles were sold. Only time will tell how much the latest EV cuts will help the company increase these numbers in the future.