Just take a look at the BMW XM's poor sales; It's easy to criticize BMW for approving the polarizing SUV over a new supercar—but I won't do that. Even if the M division had nearly finished developing an M1 successor, the management team ultimately decided to go with the plug-in hybrid SUV instead. Why? In the late 2010s, the company's logic was that the XM would sell better than a new flagship performance car.
Given the success BMW has had with SUVs, can you really blame them? In a statement made last year, Sarah Lessmann, Product Manager at BMW M GmbH, explained why the XM was chosen over a production version of the sleek 2019 Vision M Next. The concept illustrated a mid-engine supercar with a plug-in hybrid setup based around a four-cylinder mill, delivering nearly 600 horsepower.
“The BMW M1 was a perfect fit for its era, while the BMW XM is tailor-made for today's customers. In former times, sports cars were extremely appealing to a broad range of customers and highly relevant for car manufacturers. However, customers around the world today are looking for SAVs/SUVs that deliver practicality and high performance in one luxurious package. These vehicles have the potential to significantly drive growth for car manufacturers moving forward.”
- Sarah Lessmann, Product Manager at BMW M GmbH
In other words, BMW reckoned the XM would be more profitable than the M1 revival. Although it's touted as a standalone model, the SUV is heavily related to the X5M and X7 M60i, riding on the same CLAR platform. It means that the electrified mastodon wasn't developed from scratch. It did pioneer the plug-in hybrid V-8, but that powertrain has now trickled down to the new M5 sedan and wagon, so BMW was able to amortize the cost if its development.
Speaking of which, prohibitive costs put the nail in the M1 replacement's coffin. An older report from Car Magazine cited a BMW M research and development team member saying, "The biggest challenge by far is cost, which is why the board has buried the projected halo car." The coronavirus pandemic created a perfect storm, abruptly ending the modern-day E26.
BMW has developed two special cars since then that have been more successful. Launched in 2022 to celebrate half a century of M, the 3.0 CSL debuted with a sold-out status. Although pricing was never disclosed, customers reportedly paid around $788,000 (€750,000). Of the 50 cars, some were sold for even more money, as the #44 example grabbed $1.07 million (€1,017,500) at RM Sotheby's Munich auction a year ago. BMW Spain had the #41 car listed for $841,000 (€800,000).
The 3.0 CSL was essentially a re-bodied M4 CSL with a manual gearbox and a bit more power, yet wealthy people happily threw money at BMW to claim one. Those customers knew what they were buying, as underneath the coachbuilt body, it was basically an M4 CSL with three pedals and 10 extra horses. The M anniversary car was handicapped, since the inclusion of a stick shift forced the engineers to detune the engine by 74 lb-ft to 406 lb-ft. Horsepower grew to 553 hp, making it the most potent inline-six BMW ever.
Then there's the Skytop. BMW filled the order books for the stunning convertible shortly after publicly unveiling the concept car. Official pricing was never disclosed either, although reports claim the sharknose tribute with Z8 design cues cost $526,000 (€500,000) a piece. Certainly, a lot of money for a two-seater M8 with a new body featuring a removable targa top.
Echoing the 3.0 CSL, the Skytop largely carries over the interior of its donor car. Despite the exorbitant asking price, BMW didn't go through the trouble of creating a new cabin for those 50 cars. Nevertheless, customers didn't have a problem with that, instantly splurging on one of the most beautiful cars to carry the famous roundel in recent decades.
Lest we forget BMW also considered a production version of last year's Concept Touring Coupe. Essentially a Clownshoe reboot based on the Z4 M40i roadster, the shooting brake was supposed to have a production run of 50 cars, at about $250,000 apiece. Sadly, the two-door wagon never came to be.
Having observed its success with the 3.0 CSL and Skytop, BMW's management team should feel more confident about green-lighting a supercar. If Mercedes can charge $2.72 million for an AMG One, its domestic arch rival could demand seven figures for a flagship performance model. A hybrid setup is unlikely to deter buyers, considering the One was also a roaring success. Mercedes customers even patiently waited years for AMG to finish development. After delays, the One was crowned the fastest production car at the Nürburgring.
It's likely too late for the "i16" to come back as a production model. The mid-engine sports car project was scrapped several years ago, back when the COVID-19 pandemic was in full swing. A new range-topping performance vehicle doesn't have to break records or feature an F1 engine like the AMG One did. We've been waiting for a new M1 for decades. Before the i16, there was the 2008 M1 Hommage, which didn't make the cut either. Deep within the buildings in Munich, a supercar is a subject that keeps coming back every now and then. So far, the bean counters have won, but we're not losing hope.
Since the 3.0 CSL and Skytop cost several more times than their donor vehicles, BMW could work out the math for a supercar with a much higher asking price. We realize it would be a far more expensive endeavor by not having a ready-made platform to build upon. However, if there’s a market for a million-dollar 4 Series, the Bavarians can realistically expect deep-pocketed people to spend serious money on a dedicated supercar.
The M division has pledged to keep the inline-six and V8 until at least the end of the decade, so there’s still time for a swan song for internal combustion. Even if it's not a fully fledged supercar, we'd be happy with a spiritual successor to the i8. That's what the plug-in hybrid M Vision Next (and later the i16) was supposed to be, until the electrified machine was canned.
The XM bet clearly didn't work, so BMW owes us a supercar.
