The BMW XM, the Bavarian automaker’s luxury performance SUV, continues to limp through the marketplace with troubling sales numbers. Since its production launch in December 2022, the XM has faced sluggish demand, and that trend deepened in the third quarter of this year. Over those three months, BMW moved only 307 units, marking a steep 30.7% drop from the 443 sold in the same quarter last year.
To put this in perspective, even the niche BMW Z4 roadster—typically a low-volume model—outpaced the XM, selling 543 units in the same period. Although Z4 sales saw a significant 64% boost, the fact that a two-seat roadster is outperforming BMW’s flagship performance SUV raises eyebrows.
BMW Sales Slump Continues Across the Board
While the XM’s poor performance stands out, it’s not the only bad news for BMW. Across its entire lineup, BMW is struggling to maintain momentum in 2024. Passenger car sales are down by 5%, SUVs have slipped 8.5%, and the Mini brand took a shocking 33% plunge in sales compared to last year. Even the iconic 3 Series, fresh off a refresh, has seen a 13.7% dip.
The company’s overall year-to-date figures don’t seem quite as disastrous, with sales down just 2.1%—a loss of 5,740 vehicles—but the troubling trends point to deeper issues. The broader Q3 numbers show BMW North America down 9.2%, with 83,412 vehicles sold.
Some Bright Spots Amid the Gloom
Despite the overall sales slide, there are a few bright spots for the brand. The 5 Series sedan saw a hefty 44.7% boost, the 2 Series climbed 25.6%, and the X4 SUV enjoyed a 41.8% rise compared to Q3 of last year. But the wins are few and far between.
As for Mini, the news is equally bleak. Every model in the Mini lineup posted a decline, with the best-performing model, the Cooper S hardtop, down by 3.3%. The Countryman, Mini’s sales leader, took a hit of 16.4%.
Holiday Hope?
With the holiday season fast approaching, BMW will be hoping for a major turnaround. Whether it’s tapping into the allure of gifting a luxury vehicle with a giant bow or leveraging year-end sales, the brand has its work cut out if it hopes to finish 2024 on a more positive note. BMW’s luxury SUVs, like the XM, need to capture the consumer’s attention soon, or the automaker could be facing an uphill battle in the coming year.
