The BMW XM is one of the most controversial vehicles to hit the automotive scene in recent years. Aside from its hefty price tag and niche positioning, it offends enthusiasts on many levels – from its polarizing styling to its bizarre positioning as the BMW M halo car. And this is clear to see in the dismal sales figures, with the large SUV proving as popular as a snowmobile in the desert.
During the third quarter of 2024, the German automaker managed to sell a mere 307 examples of the XM. With a $159,000 starting price, the range-topping SUV was never going to be a bestseller, but the Q3 numbers suggest it’s nowhere near as popular as the automaker had hoped for. Compared to the same period last year, sales have declined by 30.7%, with 443 units leaving dealership floors in Q3 2023.
Oh Dear, Those Sales Figures Don’t Look Very Good
And this trend isn’t exclusive to the third quarter. Year-to-date sales for the XM have also plummeted compared to 2023. Since January, just 1,385 customers signed on the dotted line for the range-topping Bimmer. YTD sales for the same period last year totaled 1,614, representing a 14.2% fall. In all fairness to the XM, only two BMW SUVs saw increased sales for Q3 2024 (the X3 and X4), with the rest of the X lineup in a slump. That being said, an all-new X3 has been revealed, and the X2 and the X1 have been updated recently, and these new models may spur fresh sales.
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Interestingly, BMW’s other high-end SUVs – the X7 and the electric iX – outsold the XM by a considerable margin. The former racked up sales of 5,328 sales in Q3, while the latter managed 4,679. That’s rather telling, as neither vehicle can be considered cheap. Q1 2024 sales for the XM were just as abysmal, with 409 examples sold between January and the end of March. Perhaps sales of the XM would increase if the German marque were to offer the base 50e derivative in the United States.
A Tough Sell In A Segment Bristling With Talent
The XM is by far the most expensive SUV in the lineup. In the case of the XM Label, it can cost customers as much as $185,000 without options. Fully loaded, the MSRP gets closer to the $200,000 mark. That places the XM in challenging territory, where it is forced to compete with the dynamic Porsche Cayenne Turbo GT ($203,000), the raucous Lamborghini Urus (approximately $245,000), and the refined Bentley Bentayga (approximately $205,000).
All the aforementioned luxury/sport SUVs boast more prestigious badges, which appeal more to the individuals shopping in this segment. This understandably makes the XM a tough sell in a category bristling with desirable alternatives. Earlier this year, it was suggested that BMW was going to kill the XM off without a replacement. A report claimed that the offering would be killed off after 2028, but BMW quashed these rumors, noting that “it has made no official statement on the future of a successor to the BMW XM.” Based on these poor sales, we wouldn’t be surprised if these rumors had some truth to them.
Expert Opinion
We’ve waxed lyrical on why the XM is such a bad concept in nearly every respect, but in a nutshell, perhaps buyers might have forgiven at least some of its failings if something other than the styling stood out. Sadly, although the seats are remarkably comfortable and the powertrain is strong, the overall package remains incoherent, thanks to an unrefined ride, less-than-stellar handling dynamics, and pretender pricing. Is it an ultra-luxury SUV or a super-sporty SUV? Maybe it is all down to the styling and positioning of the vehicle. Some might call that karma. As a hardcore BMW fan, I sincerely hope that the next car created to stand as the halo model of the excellent M lineup is sold in small numbers by design.
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