Plug-in hybrid SUVs are not exactly synonymous with performance. Still, the BMW XM aims to instill some excitement into the segment with a 4.4-liter V8 and electric motor to deliver a whopping 644 horsepower. The XM is the first PHEV from BMW, and as such, it’s the first under the M division of sporty models and the performance wing’s first stand-alone model since the iconic M1 was introduced in 1978.
So, how much can car shoppers expect to pay for an XM, both at its base level and in its top trim with available add-ons? Here’s a look at how much a fully loaded 2024 BMW XM costs.
The base 2024 BMW XM starts at $159,000
The BMW XM brings plenty of verve to the luxury PHEV SUV segment, but its cost is perhaps even more notable than its power output. The 2024 XM starts at $159,000 MSRP, but at least plenty of power and panache are offered, all riding on standard 23-inch wheels.
The XM’s cabin features a leather interior with diamond-quilted trim, a synthetic suede headliner, four-zone automatic climate control, heated seats throughout that are ventilated with massage functions for front passengers, heated and cooled front cupholders, and other amenities. Standard tech and connectivity include BMW’s massive curved display, navigation, a head-up display, Wi-Fi hotspot, wireless charging, and more.
Driving engagement is enhanced by active anti-roll bars, adjustable dampers, an M Sport differential, all-wheel drive, various driving modes, and four-wheel steering. A substantial suite of safety features is also standard.
The more powerful XM Label has an even steeper price
If 644 horsepower isn’t enough, BMW offers even more eye-popping performance with the XM Label Red model that dishes out 738 hp with a manufacturer-claimed 0-60 mph time of 3.6 seconds. That’s supremely quick for a model weighing nearly three tons, though buyers are asked to pay much more for that added power. The 2024 BMW XM Label starts at $185,000 MSRP, $26,000 more than the base model.
The XM Label Red’s added power comes via tuning the 4.4-liter twin-turbo V8. The top model produces 94 more hp and 74 lb-ft more torque than in the base XM.
Otherwise, the Label Red shares the same feature list as the standard model. However, the more powerful guise stands out with an available Toronto Red metallic “accent band” on the exterior and red exterior/interior XM badges, with red interior contrast stitching in the cabin.
Options and packages for the 2024 BMW XM
Many modern BMWs come with a list of optional packages seemingly a mile long, but with the XM’s steep asking price and it already being loaded with features, the XM’s add-ons are relatively limited or come at no cost.
Still, base XM buyers can deck out their ride with a choice of 19 exterior paints. Some, including the eye-catching Sao Paulo Yellow, come at no cost, but several, like Ruby Black Metallic or Frozen Tulum Blue Metallic, require an additional $5,500. Base model buyers can also choose either “extended” or full Merino leather for $1,500 to $2,500. Blue or red M Sport brake calipers or a NightGold Metallic exterior trim strip are no-cost options.
Just two packages are offered for the XM. They include the Bowers and Wilkins Diamond Surround Sound System ($3,400) or the M Driver’s Package ($2,500), including a one-day high-performance driving class at one of BMW’s Performance Centers.
Few accessories are offered, including a set of front and rear windshield cameras or a universal tablet holder.
A 2024 BMW XM in its base guise with all options and accessories, including BMW’s most thorough “care” and warranty bundle, rings in at $181,059, according to BMW’s online build tool.
The $185,000 XM Label Red offers all paint choices as no-cost options, there’s no choice of interior trim, and only the upgraded sound system and M Driver’s Package are offered. Still, ticking these options and BMW Ultimate Care+ 4 Bundle gives the 2024 XM Label Red an all-in MSRP of $197,549.