Contrary to expectations, the XM remains BMW’s slowest-selling model, despite a near 16% increase in sales compared to 2023.
BMW maintained its lead in the global luxury car market in 2024, despite a 2.3% decrease in deliveries, reaching 2.2 million units. This figure solidifies BMW’s position at the top of the luxury car segment. Meanwhile, Mercedes-Benz dropped by 3% to 1.98 million vehicles, and Audi saw an 11.8% decline, selling only 1.67 million cars.
According to BMW’s 2024 Annual Report, the XM showed impressive growth of 15.8%, reaching 7,813 units. However, this controversially designed model still ranks last in the brand’s sales chart. In contrast, the Z4 – a convertible – sold 10,482 units, a 4.3% decrease from 2023, but still outperforming the XM. Even though the XM is significantly more expensive than the Z4, it’s unusual for a convertible to outsell an SUV.
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The increase in XM sales is not entirely surprising, as 2024 was the first full year of its market presence, following its launch in early 2023. Of the 7,813 units sold, the US accounted for 1,974, or 25.27% of global XM sales. In the US, the BMW XM, in its standard configuration, is priced at $161,425, significantly higher than the XM 50e sold in Europe (starting at €132,400). Nonetheless, many consider the less expensive X5 M Competition to be a more sensible choice, especially for those who aren’t fans of the XM’s unique design.
BMW had hoped that the XM would be a “safe bet” in the SUV trend, but this decision has left some disappointed. To develop the XM, the company canceled the Vision M Next – a mid-engine sports car that paid homage to the iconic M1 – which was already 95% complete. Had it been released, the Vision M Next could have enhanced BMW’s image after a period of criticism for controversial designs and an excessive focus on SUVs. Instead, the German automaker opted for the XM, an SUV based on an existing platform, sharing its engine with the new M5, a cost-saving strategy similar to the 3.0 CSL and Skytop limited-edition models derived from the M4 Coupe and M8 Convertible.
Thai Son (Tuoitrethudo)
References: Motor1
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