The XM has generated tremendous controversy ever since the namesake concept debuted back in November 2021. The subsequent production model was introduced in September 2022 and production started in December 2022 before hitting dealers in the spring of 2023. Given its hefty price tag and polarizing design, the XM was never going to be a top seller, so it’s always interesting to see the figures when a new sales report comes in.
During the second quarter of 2023, BMW USA sold 762 units but deliveries dropped to 443 units in the third quarter. It’s important to note the luxury brand projects that the United States will be the XM’s largest market in the world, with 26% of sales. Internal research showed China should be next with 23%, followed by the Middle East with 8% along with Germany and South Korea – each with 7%.
With the XM heading to more and more dealers across the US, some – including us – had expected sales to go up rather than down. Even so, it’s too early to judge whether the plug-in hybrid SUV is a commercial success or not, especially since the dedicated M model is being sold in many other markets. As a refresher, BMW reported 2,484 sales globally in the first half of 2023.
In related news, the adjacent table shows what worked in Q3 2023 and what didn’t. Deliveries of the X1 jumped by 1,125% compared to Q3 2022, fueled by the launch of the new generation. The fully electric iX also enjoyed a huge boost in sales as demand rose by 220.8% over the same quarter of last year. BMW’s flagship car, the 7 Series, went up by 134% thanks to the all-new model and its electric i7 sibling. The 2 Series, 3 Series, 4 Series, X4, and X7 also saw a spike in demand.
The X2 suffered the biggest drop, with deliveries down by 95.3% compared to Q3 2022, but that’s not all too surprising since production of the crossover-coupe mashup ended last year. Earlier this week, BMW teased the second-generation model, which is expected to break cover in the coming days. The 5 Series was also on a downward trend, with sales decreasing by 62.1%. That was also predictable considering the G30 was on its last legs and the newly launched G60 should boost demand, especially since it’s the first 5er to come as an EV.
Source: BMW USA