A supercar had to die so that another SUV could live, but as many have predicted, the polarizing M car isn't exactly flying off dealer lots. Rather than making a mid-engined coupe as a spiritual successor to the M1, BMW built the XM instead. Only 2,315 units were sold in 2023, although Bavaria's excuse is that deliveries didn't start until later in the spring. The numbers are now out for 2024, and they're even worse.
Even though 2024 was the first full year for the XM in the United States, BMW shipped even fewer vehicles. Only 1,974 SUVs were sold, a drop of 14.7 percent compared to 2023. Consequently, the plug-in hybrid mastodont was the company's worst-selling model. Even the Z4 roadster fared better. The sporty cabrio was up 13.1 percent to 2,129 units, helped by the launch of a Z4 M40i with a six-speed manual.
Technically, the XM wasn't dead last. As previously reported, BMW somehow sold an i3 in the first quarter of 2024. The quirky hatchback isn't the only zombie car in the sales chart, either. In the last quarter of the year, someone bought a 6 Series Gran Turismo. The large luxury hatchback left the US market after the 2019 model year, which means the sole car that changed hands was already around six years old. The 6 GT was available in the US only for the 2018 and 2019 MYs. It continued in other markets, receiving a facelift in 2020 before being discontinued last year.
Overall, 2024 was an excellent year for BMW in the US. With 371,346 vehicles delivered, demand rose by 2.5 percent to reach a new record level. The X5 did the heavy lifting, with 72,348 SUVs delivered last year. The smaller X3 was right behind, at 68,798 units, with the 4 Series occupying the last place on the podium with 42,608 cars.
BMW finished well ahead of archrival Mercedes-Benz, which, despite a 9 percent year-over-year growth, sold only 324,528 units. The other German competitor, Audi, was way behind, with 196,576 cars, a massive 14-percent drop compared to 2023. Japan's Lexus had its best year ever in the US, ending 2024 with 345,669 vehicles, ahead of Mercedes but still behind BMW.
But why did the XM fail anyway? Well, beauty may be in the eye of the beholder, but the consensus is BMW gave it awkward styling, to put it nicely. In addition, it's not any faster than the X5 M, which is about $33,000 cheaper and looks normal. Step up to an XM Label with all options, and you're paying nearly $200,000.
If BMW had a time machine, the company would probably go back a few years and greenlight the supercar instead...
Source: BMW
