BMW deems South Korea one of the top five markets in the world for the XM, alongside Germany, the U.S., China, and the U.K. For 2026, the polarizing SUV is dropping the base version and putting all its eggs in the XM Label basket. The days when the company’s most powerful production vehicle was known as the Label Red were short-lived. Going forward, it’s simply called the XM Label.
Since Korea doesn’t get the six-cylinder 50e version sold in Europe, the Label is the only XM available locally. BMW claims the 227.7 million won ($155,000/€133,500) sticker is “the most competitive price” among the vehicle’s main markets. For reference, Americans must fork out at least $160,775. Germans pony up €183,400 before options. In the U.K., math starts at £154,800. Over in China, the XM Label kicks off at ￥2,450,000. Of course, that’s before any discounts dealers might offer to move the unsold metal.
Some will remember that when BMW launched the XM, it projected South Korea would account for 7% of total demand. The U.S. was estimated to account for 26%, followed by China at 23% and the Middle East at 8%. Germany tied Korea with 7%. Demand hasn’t been strong, to say the least, and deliveries are down 4.7% through the first half of the year.
BMW sold only 3,627 units through the end of June, making it the slowest-selling product in the lineup. Even the outgoing Z4 did better, with demand for the roadster rising 1.1% to 5,552 cars. Of course, it’s not a fair comparison given the huge pricing gap, but we can all agree that the XM hasn’t lived up to the hype.
Nevertheless, BMW might not be done experimenting in the large SUV segment. Even though the XM is unlikely to get a second generation, it’ll allegedly be indirectly replaced by a “Rugged” model. If our sources are correct, the “G74” won’t be as capable off the beaten path as a Land Rover Defender or Mercedes G-Class. However, the CLAR-based vehicle with plug-in hybrid and electric power is likely to have more off-road ability than any X model before it.
In the meantime, the “G09” is likely to soldier on until November 2028, when production is reportedly scheduled to end. We wouldn’t hold our breath for a mid-cycle facelift given the model’s limited appeal, which makes it hard to justify a business case for investing in an LCI.
Photos: BMW South Korea
