At the end of 2022, BMW presented its new crossover SUV, the BMW XM. Although it achieved poor sales results from the very beginning, customers are now increasingly moving away from this SUV. In the last couple of months, demand for the XM model has dropped by 30%.

The BMW XM is a large and expensive SUV, and in Q3 2024 only 307 units were sold, which is 136 units less compared to the same period in 2023. This makes the XM less popular than the Z4 model (543 units), a segment that is certainly not achieving good sales results. Sales of the Z4 did increase by almost 64%, but that was only an increase of 212 units.

In the first six months of 2024, BMW sold 1,096,486 cars worldwide, which is a growth of 2.3 percent compared to the same period in 2023. Although the biggest growth was recorded in the sale of electric cars, and 180,000 of them got new owners ( +34%), customers still mostly opt for cars powered by internal combustion engines and hybrids.

However, in the last three months, the Bavarian manufacturer has recorded a significant drop in demand for almost all models. In Q3, BMW sold 5% fewer passenger cars, 8.5% less SUV models, 13.7% fewer Serie 3 units, while the once-popular Mini brand recorded a surprisingly large drop of 33% compared to 2023.

Source: BMW