BMW may have once again claimed the global luxury sales crown in 2024, but not all models contributed equally to the brand’s success. Among the most polarizing entries in BMW’s lineup, the XM plug-in hybrid SUV stood out—not for its dominance, but for its peculiar position within BMW M’s growing portfolio. With 7,813 units sold in 2024, the XM recorded an impressive 15.8% increase over its first-year performance in 2023. Despite this growth, it remained one of the lowest-selling BMW M models, outpaced even by the niche Z4 roadster, which managed 10,482 sales despite a 4.3% decline.
The XM’s biggest market, as expected, was the United States, where 1,974 units found homes. That means 25.27% of global XM sales came from North America. However, U.S. buyers only had access to the high-performance 748-hp XM Label Red and standard XM (now removed from the U.S. market), both priced well over $160,000. In contrast, European customers could opt for the cheaper, six-cylinder XM 50e, starting at €132,400 ($144,300) in Germany.
BMW X1 and X2 – Best Selling SUVs
While the XM’s growth was notable, it paled in comparison to BMW’s best-selling SUV lineup, the X1/X2, which skyrocketed by 30% to 413,386 units—over 52 times more than the XM. This surge highlights the brand’s stronghold in the compact premium SUV segment, where affordability and practicality reign supreme. At the other end of the spectrum, BMW’s fully electric flagship SUV, the iX, struggled. With 38,365 units sold, it marked a sharp 24.8% drop compared to 2023. While BMW has not detailed the reasons behind the decline, factors could include market saturation, evolving EV incentives, or increased competition in the luxury electric SUV space.
As always, BMW M did not break down individual sales figures for its high-performance X SUVs—the X3 M, X4 M, X5 M, and X6 M—so it’s unclear what their exact market performance is. Meanwhile, the X7, BMW’s full-size luxury SUV, experienced a slight 1.9% decline, delivering 59,949 units—still vastly outselling the XM.
| 2024 | 2023 | Change | |
|---|---|---|---|
| BMW 1 Series & 2 Series | 198,226 | 225,827 | -12.2% |
| BMW 3 Series & 4 Series | 519,228 | 558,46 | -7% |
| BMW 5 Series & 6 Series | 250,674 | 273,877 | -8.5% |
| BMW 7 Series & 8 Series | 56,542 | 59,763 | -5.4% |
| BMW Z4 | 10,482 | 10,957 | -4.3% |
| BMW X1 & X2 | 413,386 | 318,051 | 30% |
| BMW X3 & X4 | 370,198 | 405,562 | -8.7% |
| BMW X5 & X6 | 275,318 | 280,684 | -1.9% |
| BMW X7 | 59,949 | 61,117 | -1.9% |
| BMW iX | 38,365 | 50,989 | -24.8% |
| BMW XM | 7,813 | 6,749 | 15.8% |
| BMW i3 & i8 | 36 | 755 | -95.2% |
| Total | 2,200,217 | 2,252,793 | -2.3% |
The XM’s Place in BMW’s Future
While the XM’s 15.8% growth in its first full year of availability is a positive sign, it remains a niche product. Its ultra-high price tag, unconventional styling, and hybrid-only powertrain make it a tough sell compared to more traditional performance SUVs like the X5 M Competition, which offers similar power for less money. We’ve already heard through the grapevine that the BMW XM is not getting a renewal contract, but some meaningful updates might be underway to give the top M SUV some new life.
BMW M, on the other hand, set a new all-time sales record, delivering 206,587 M models worldwide, a 2.1% increase over 2023. The all-electric i4 M50 was the division’s best-seller once again, showing that performance enthusiasts are increasingly warming up to electrification.