BMW XM’s Label Red Waiting List Is Open, so I’ll Take Home a 2024 X5 PHEV or X6 M

Here, let us give you an example solely focused on North America’s massive U.S. market. Since 2023 started, we found out that BMW's 2022 sales shrunk by 1.3% compared to 2021, but the situation is probably not going to repeat itself going forward. After all, just three months have passed and already we are looking at big novelties like the awkward BMW i Vision Dee shown at CES in Las Vegas, the “lighter, stronger, faster” limited-edition 2024 M3 CS sedan, lots of model updates for the expanding spring blossom, as well as a quartet of mid-size premium SUVs to make sure the Spartanburg plant remains a top priority for the Bavarians.

Naturally, the company also went to the top of the ultra-luxury super-SUV game and recently its German portal opened up the forms for placing your name on the waiting list for an example of the 2024 BMW XM Label Red full-size SUV. The latter will begin production sometime later this year with first deliveries programmed just before the year runs out, probably much to the chagrin of fresh Ferrari Purosangue owners.

Sure, it might not be logical to compare a Prancing Horse with a BMW but come on – we all know the 715-hp V12 Purosangue versus 738-hp PHEV BMW XM drag races and track trials will be the pride and joy of vloggers in early 2024. And then it is going to be an aftermarket competition for whoever has the most outstanding or outrageous SUV to stand out in the posh crowd. Many, myself included, will gladly bet on the streamlined, coach-door Ferrari Purosangue to win the hearts and minds of many automotive enthusiasts, even though the BMW wins both the hp and ‘affordability’ sections.

After all, the almost-$400k rumored MSRP of the Purosangue is an order of magnitude higher than anyone can imagine for the BMW XM Label Red, even if it ends up in the ballpark of a $230k Lambo Urus S based on the current $159k starting MSRP of the 644-hp BMW XM. But I would rather not save a pretty penny (in my dreams, at least) and spend it all on a lavish Ferrari Purosangue that looks much better than a Rolls-Royce Cullinan, for example, than be the talk of the town when arriving in a BMW XM as if I did something wrong – like cheat on Mother Theresa with an alien mistress.

This is, because, to me – and please take no offense in that, BMW fans – the XM feels completely otherworldly. And not in the best sense, frankly. Anyway, if I had to settle on a BMW on a mandatory basis for my pick of a cool ride, I would have no trouble going after a 2024 X5 or X6 (if I still wanted to attract attention) when $60k or $70k thresholds need to be maintained. The refreshed X5 starts at $65,200 while the X6 sibling kicks off at almost $74k, in the United States, and they represent stiff competition for other peers from the mid-size luxury SUV segment.

Alas, if you want me to give you a second opinion about what is more affordable and (arguably) just as stylish – though not necessarily better or more reliable – I would also take a peek at Cadillac’s cool XT6, which is cheaper in 3.6-liter V6 AWD form (at $58,190), and also at the newly refreshed Range Rover Velar!

Going up the high-performance ladder we find the facelifted 2024 BMW X5 M and X6 M, solely in Competition guise, from now on. For the first time, the 4.4-liter V8 engine is joined by a mild hybrid setup but still churns out 617 horsepower. Along with the 553 lb-ft of mountain-moving torque, which equates to 750 Nm, that is enough to trump one of their major foes – or even two.

Those would be the 2023 Mercedes-AMG GLE 63 S 4Matic+ SUV and the 2022 Mercedes-AMG GLE 63 S Coupe, of course. But here is the thing, even though the latter have ‘just’ 603 hp, they are just as feisty – also reaching 60 mph (96 kph) in 3.7 seconds. Plus, they are also a tad less costly than the $122,300 and $127,200 X5 M Competition and X6 M Competition, respectively – at $120k and $117,850, as it turns out!

So, is it going to be hard to choose among these fresh BMW sport utility vehicle offers? For me, if I was mandated to go home with one of these five options (XM Label Red, 2024 X5 & X6, or 2024 X5 M and X6 M Competition), it would be easy to select a favorite. Although it sounds nasty with 738 hp on tap and I feel attracted to the PHEV idea of mixing gas with electricity and the convenience of plug-in charging, the XM is simply too preposterous for me to even consider.

The X6s, likewise, have nothing but quirky looks, especially from the sides and at the rear. That leaves me with one of the X5s and I think I would be off into the sunset with the improved plug-in hybrid tech housed inside the $72,500 (+$995 destination and handling) 2024 BMW X5 xDrive50e. Almost 100 ponies more than before plus an additional 10 EV miles are more than enough, to the tune of 483 hp and a 40-mile (64+ kilometers) EV range!