The 2024 BMW XM SUV goes big: big V8 engine, big horsepower, and a truly enormous price tag. Now offered in two flavors – standard trim and the limited-production BMW XM Label (formerly “Label Red”) designation – the polarizing SUV otherwise offers no changes from its 2023 model year debut. We’ve driven both, and ultimately, the BMW XM will deliver on everything it promises thanks to an extroverted and unmistakable design, prodigious power courtesy of its hybrid powertrain and the usual suite of sophisticated BMW technology. That said, drivers looking for a more authentic motorsport experience might be better served by the X5 M or X6 M SUV. As strange as it sounds, the only standalone M product since the BMW M1 does its best work when treated as a light-duty sports vehicle and full-time SUV.
2024 BMW XM Engine, Transmission, and Performance
The 2024 BMW XM is the first-ever plug-in hybrid electric vehicle (PHEV) from the M Division. You get a twin-turbocharged V8 engine supplemented by electric power and M xDrive all-wheel drive. A familiar eight-speed ZF box handles shifting duties, and you can drive the 2024 BMW XM on electric-only power for around 30 miles. The standard SUV boasts 644 horsepower and 590 pound-feet of torque; Label variants increase those figures to 738 and 738, respectively. Notably, the BMW XM Label is the most powerful production BMW M vehicle to date.
BMW claims that zero to 60 mph occurs in just 4.1 seconds in the standard BMW XM, and Label models do it in half a second better. We haven’t run the instrumented tests, but we believe them. Unfortunately, nobody who’s driven an XM at BMWBLOG thinks its ride is very comfortable – it feels about as stiff as the lighter and faster X5 M. But overall, the 2024 BMW XM offers exceptional performance on the street.
2024 BMW XM Fuel Economy and MPG
EPA-estimated fuel economy for the 2024 BMW XM is 14 mpg when running on gas and 46 mpge when utilizing electric and gas power combined. While most shoppers are prioritizing the performance of the BMW XM, its PHEV powertrain could potentially attract more environmentally-minded shoppers. Its competitors are vehicles like the AMG GLS 63 and Range Rover SVR models. Both named vehicles return better all-petrol efficiency, though. This is part of the BMW XM’s confusing duality, making it a tough value proposition.
Interior and Cargo Space
The interior of the 2024 BMW XM is unquestionably luxurious. Plus, you’ve got all the creature comforts you expect at this price point. Heated, massaging, and ventilated seats, heated and cooled cupholders, and a Harman Kardon sound system with 16 speakers come standard. You can opt for a $3,400 Bowers & Wilkins system; we probably would at this price point.
The high-performance SUV offers 64.3 cubic feet of cargo capacity, trailing the X5 M (72.3) and 2024 AMG GLE (74.9). It does offer more usable space than the X6 M, though – by around 5 cubic feet. It also beats out the Porsche Cayenne (60.3). Every XM comes with a bespoke bag that fits neatly in the trunk, too – so you can flaunt your exorbitant SUV ownership status wherever you go.
2024 BMW XM Technology and Connectivity
Like most other modern BMW vehicles, the XM gets a curved display comprising a 12.3-inch digital instrument cluster and a 14.9-inch central information display. That means the latest version of BMW iDrive software and wireless Apple CarPlay/Android Auto support. With no options to speak of on the BMW XM, hopefully, it already comes with everything you want. It should, since things like app integration, voice commands and navigation, and SiriusXM compatibility all come standard.
Safety and Driver Assistance Features
Again, nothing much to read about here. The 2024 BMW XM comes loaded with powerful driver aids. That includes surround view cameras and Parking Assistant Plus, so the vehicle can essentially self-park. Features like Lane Departure Warning and Blind Spot Detection come standard alongside Active Cruise Control with Stop & Go. BMW Assist eCall and Teleservice come standard, too.
2024 BMW XM Pricing
The plug-in hybrid XM starts at $159,000. The XM Label commands a whopping $26,000 premium. You need to really like how the XM looks and drives for it to offer any objective value over a competitor. Competing vehicles – both outside and inside the brand – often get you more performance for less cash (Porsche Cayenne Turbo, X5 / X6 M). The XM does allow you to stand out, though, boasting much more attention-grabbing looks than any other vehicle in the stable.
2024 BMW XM FAQ
The XM makes 644 horsepower and 590 pound-feet of torque. The XM Label makes even more – 738 horsepower and 738 pound-feet of torque.
The BMW XM is the first standalone BMW M product since the BMW M1 in the 1970s and early 1980s. It’s also the first PHEV M vehicle.
There’s no limit to production for the BMW XM. Label models are limited to 500 units.
No, the XM uses a plug-in hybrid powertrain that combines a twin-turbo V8 with electric battery power.