Updated with official statement from BMW of North America: “In anticipation of the approaching deadline to register for the 2023 running of Pikes Peak, BMW submitted a preliminary entry.  However, a final decision on our participation has not been made at this time.”

Despite not being on the market yet, we can exclusively report that the 2024 BMW XM Label Red is included in this official list of competitors invited to participate in the 2023 Pikes Peak International Hill Climb. The official entry list which can be seen in a PDF format here, lists the most powerful BMW ever made as one of the entrants.

Launching Summer 2023

Unfortunately, there are no additional information at this point, but the timing seems to match the start of the communication of the new BMW XM Label Red. BMW introduced the “regular” 650 horsepower XM last year, and at the time, they also casually mentioned the XM Label Red as coming in Summer 2023.

The Pikes Peak International Hill Climb, also known as The Race to the Clouds, is an annual automobile hillclimb to the summit of Pikes Peak in Colorado. It features a series of electric vehicles and hybrid cars. The BMW XM Label Red is entered as hailing from Duncan, South Carolina, and having behind the wheel none other than BMW Performance Chief Instructor Matt Mullins.

750 hp and $185,000

The BMW XM Label Red uses a pumped up version of the same powertrain and it makes a mightily impressive combined 735 horsepower and 735 lb-ft of torque. It makes that total power output by bumping up the engine power to 585 horsepower and 553 lb-ft of torque. Obviously, this will be the faster version but BMW hasn’t released official performance figures just yet, so how much faster is still very much in question.

Why is it called Label Red and not XM Competition? According to BMW, the XM Label models deserve a unique name since they are more than just a Competition model. In Europe, the BMW XM Label Red (rumored to be limited to less than 2,000 units) will sell for around 195,000 euros. In the United States, the very same XM Label Red will be sold for around $185,000.

Despite being the heaviest BMW ever made, the XM is quite a performer. We had a chance to sample a prototype last year and we will soon drive a production series. Of course, the goal is to hop behind the wheel of the XM Label Red later this year. But until then, we will have to live vicariously through Mullin.