BMW Rolls Out Massive October EV Discounts Across Entire Lineup

BMW offers $7,500 purchase credit and low financing rates to make October the month to go electric.

In response to the disappearance of the federal EV tax credit, BMW is giving buyers a $7,500 purchase credit on its full electric vehicle lineup for October. This incentive mirrors the previous maximum federal EV tax credit and applies to models ranging from the i4 four-door coupe to the flagship i7 sedan, making it one of the most aggressive promotions from a luxury automaker this year.

A Deal That Covers the Entire BMW EV Family
BMW’s EV portfolio includes the i4 starting at $57,900, the i5 midsize sedan at $67,100, the iX midsize SUV at $75,150, and the i7 full-size sedan topping $168,500 for the M70 variant. With the $7,500 purchase credit, the base i4 eDrive40 effectively drops to $50,400, delivering 335 horsepower and up to 318 miles of range alongside BMW’s signature sporty handling and premium interior.

Additional October Incentives
Beyond the purchase credit, BMW is offering 2.99% APR financing for 60 months on select EVs, including the i4 eDrive40, i4 xDrive40, i4 M50, i5 M60, and i7 trims. Loyal BMW customers may also qualify for a $2,000 loyalty credit, which rises to $5,000 for the i7, providing additional savings for those who have leased or owned a BMW within the past 12 months.

Impact on Luxury EV Market
Luxury EVs are notoriously sensitive to pricing changes, and BMW’s October promotion could stimulate sales while countering declining EV figures. Electrified vehicle sales, including hybrids, fell 2.8% in Q3, with the iX down 33%. By offering significant incentives, BMW is hoping to attract buyers who might otherwise consider alternatives from Tesla, Mercedes, or even mass-market EVs like the Hyundai Ioniq 5.

Why October Is the Month to Buy
With incentives expiring on October 31 and requiring delivery by month-end, now is a prime opportunity for drivers seeking luxury, performance, and electric mobility in one package. BMW’s aggressive approach underscores the challenges and opportunities in the evolving EV market, where timing and incentives can make the difference between a sale and a missed opportunity.