BMW IX car prices updated today
The BMW iX ushers in a new era for the brand as their first all-electric SUV. Pricing starts around $85,000, putting it at the higher end of the luxury EV market. We break down MSRPs, available savings, operating costs, and how the iX compares to rivals.
As one of BMW's flagships, the iX large luxury SUV offers the brand's ultimate expression of an electric vehicle. This ground-up EV provides emissions-free mobility paired with the latest technology and signature BMW driving dynamics.
But that advanced engineering comes at a premium price - especially in higher-performing iX xDrive50 guise. Let's explore BMW iX pricing, incentives, operating costs, and whether it can compete with EVs from Audi, Tesla and others.
Overview of BMW iX Pricing and Trim Levels
The 2023 BMW iX is currently offered in two model variants:
- iX xDrive40 - $85,100 starting MSRP
- iX xDrive50 - $103,100 starting MSRP
These base prices position the iX at the higher end of the luxury EV marketplace. The xDrive50 in particular nears the $100k threshold before options.
For the extra cost over a Model Y, buyers are rewarded with greater power, larger size, plush interior materials, and BMW's engineering credentials. But it's a lot to swallow.
BMW iX xDrive40 Pricing and Details
As the iX's "base" model, the xDrive40 still comes well-equipped:
- Dual motors provide AWD capability
- 322 horsepower and over 300 lb-ft torque
- 0-60 mph in under 6 seconds
- EPA range of 325 miles on a full charge
- 20" wheels, heated front seats, panoramic roof standard
This provides strong straight-line performance and generous driving range. But some rivals match it for less money.
BMW iX xDrive50 Pricing and Specs
For maximum acceleration and tech, the iX xDrive50 adds:
- Significantly more powerful motors - 516 horsepower
- 0-60 mph in under 4 seconds
- Sportier chassis tuning and styling embellishments
- Larger 21" standard wheels
- Softer leather upholstery
- Extended interior trim options
- Standard glass cockpit display
The xDrive50 nearly crosses into supercar acceleration territory, demonstrating the performance heights possible with an EV powertrain.
Here is a comparison of iX xDrive40 vs xDrive50 specs:
| Spec | xDrive40 | xDrive50 |
|---|---|---|
| Power | 322 hp | 516 hp |
| 0-60 mph | 5.8 sec | 4.6 sec |
| Range | 325 mi | 285 mi |
| Wheels | 20" | 21" |
| Starting MSRP | $85,100 | $103,100 |
How Does BMW iX Pricing Compare to the Competition?
The iX occupies the upper bracket of the luxury electric SUV segment:
- Tesla Model X - $120k - $140k+
- Tesla Model Y - $65k - $85k
- Audi e-tron - $70k starting MSRP
- Mercedes EQS SUV - $110k+ starting MSRP
- Rivian R1S - $78k starting MSRP
The iX xDrive40 competes closely on price with the larger Audi e-tron SUV. But the xDrive50 pits drivers against the most expensive Tesla, Audi, and Mercedes models. Strong value it is not.
Can Federal Tax Credits and Incentives Lower the Price?
The high sticker price of the BMW iX can be alleviated somewhat by available credits and rebates:
- Up to $7,500 federal tax credit - Being phased out in 2023. Applies at tax time.
- State incentives - Up to $2,000 in CA, NY, CO, CT, MA, etc.
- Utility company rebates - Local discounts up to $1,000 in some areas.
- Fuel savings - No more gas station fill-ups.
Incentives make the iX more affordable, but it still demands a premium over its direct EV rivals. Leasing could save additional money.
Leasing an iX Can Significantly Lower Monthly Payments
In addition to purchase incentives, BMW offers attractive lease specials on the iX that can really cut monthly payments:
- Low money factor lease rates
- Capitalized cost reduction incentives ($7,500+)
- Waived acquisition fee
- High residual values on leased EVs keep payment down
Getting an iX for $800/month with minimal down payment is possible with current lease offers - much more reasonable than the $100k+ purchase price.
Tips for Getting the Lowest Price on a BMW iX
There are ways to negotiate and save money off the iX's sticker price:
- Shop dealerships for best price using quotes as leverage
- Consider leasing to avoid depreciation hit
- Purchase at end of model year for best discounts
- Stick to lower cost exterior and interior colors
- Avoid expensive options like larger wheels, premium audio
- Take advantage of all possible federal, state, and local incentives
While still pricey, some creative negotiating can knock a few thousand off an iX's price.
What Are the BMW iX's Expected Ownership Costs?
Beyond the purchase price, owning an iX comes with operating expenses to factor in:
- Home Charging - About $700 in electricity costs per year to charge overnight. Requires install of home charger.
- Maintenance - Much lower than gas SUV but still around $700 annually for basic service needs.
- Insurance - Around $150 monthly for comprehensive coverage, more with collision.
- Public Charging - DC fast charging for trips can add up over time depending on usage.
- Tires - Large low-profile tires on 21" wheels wear more quickly.
- Battery Replacement - $15k - $20k down the road when battery capacity diminishes.
Operating costs are still substantial for a luxury vehicle like the iX, but gas savings help offset the premium pricing.
How Much More Expensive is the iX Than an Equivalent X5?
The electric iX commands a premium over its gas-powered BMW SUV stablemates:
2023 BMW X5 xDrive40i
- 3.0L turbo inline-6, 335 hp
- $68,400 starting MSRP
- 21 mpg combined
2023 BMW iX xDrive40
- Dual motor electric, 322 hp
- $85,100 starting MSRP
- 305 mpge combined
You'll pay over $16,000 more for the otherwise equivalent iX SUV. But you may recoup some of that in fuel savings over time.
BMW iX: How Much Does Full Coverage Insurance Cost?
Due to their high MSRPs, EVs like the iX typically cost more to insure than gas-powered models:
- Comprehensive coverage - Covers theft and damage, approx. $150/month
- Collision coverage - Covers accident damage, approx. $350/month
- Expect around $500 per month through major insurance providers.
The iX's six-figure cost makes premium insurance a must. Get quotes to find the best rate.
Out-of-Warranty BMW iX Battery Replacement Costs
Like any EV, the iX's battery pack will degrade over a decade-plus of use, necessitating costly replacement:
- BMW warrants batteries for 8 years/100k miles.
- Out of warranty, replacement cost is $20,000 or more.
- Even while under warranty, if capacity falls below 70% you may need to pay a pro-rated cost.
To avoid huge battery replacement bills, leasing the iX is a smart financial move over purchasing.
What is the Resale Value Outlook for the BMW iX?
As a high-end EV, the iX will likely depreciate faster than comparable gas BMW SUV models:
- Year 1: Predicted to retain around 87% of MSRP
- Year 3: Will have depreciated to around 64% of original value
- Year 5: Approx. 44% residual value remains
strong>While better than many EVs, it still doesn't match gas BMW's resale values. Leasing again provides the better option to avoid this substantial depreciation hit.
BMW iX vs Model X: 5 Year Total Cost of Ownership
Here is how the iX and Model X ownership costs compare over 5 years:
| Cost | BMW iX xDrive50 | Tesla Model X |
|---|---|---|
| Car Price | $103,100 | $120,000 |
| Electricity | $3,500 | $3,500 |
| Insurance | $30,000 | $28,000 |
| Maintenance | $3,500 | $2,500 |
| Total Cost | $140,100 | $154,000 |
The Model X's higher starting price gives it only a slight edge in long-term costs. But Tesla's lower maintenance needs help offset the initial pricing difference.
FAQs
How much is the BMW iX base model?
The iX xDrive40 starts at $85,100 MSRP before any incentives.
What tax credits can you get on the iX?
It currently qualifies for the full $7,500 federal tax credit, along with state incentives.
Does the BMW iX require premium gas?
No, it's a fully electric EV with no gas engine.
How long does it take to charge the iX?
About 11 hours with a home Level 2 charger, or 30-40 minutes at a DC fast charging station.
Are maintenance costs lower?
Yes, EVs have fewer mechanical parts to service and maintain. But repairs can still be costly.
Verdict: Is the BMW iX Worth Its High Price?
The cutting-edge BMW iX clearly delivers on technology, luxury, and brand cachet. But its pricing elicits some caveats:
Positives
- Leading range and performance
- Luxurious, tech-laden interior
- Qualifies for EV tax incentives
- Excellent fast charging capabilities
Negatives
- Much pricier than rivals
- Expensive long-term ownership costs
- Unknown battery replacement expenses
- Faster depreciation than gas BMWs
For loyal BMW fans seeking a fully-electric flagship, the iX warrants its high tariff. But buyers focused on value likely still find better options elsewhere. The iX caters to early adopters with deep pockets.
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