BMW’s 2 Money Maker SUVs Are on the Decline This Year
The BMW X3 and X5 have long served as the sales leaders for the German brand in the United States, which is no real surprise given their standing in the red-hot compact and midsize luxury SUV ranks. Though both models continue to attract buyers by the thousands — they remain BMW’s best-selling models — 2023 isn’t shaping up to be a banner year for either X3 sales or X5 sales.
BMW X3 and X5 sales are on the decline
The BMW X3 and X5 continue to be popular, to be sure, but perhaps not as much so far into 2023 as years past. Recent sales figures from GoodCarBadCar show the sales of both models are down significantly, both over the course of the year and in models moved in September.
BMW X3 sales are down sharply in both categories. BMW moved 4,890 units in September, down about 19.5 percent from its monthly sales for the month last year. Annual sales of the X3 aren’t faring much better. Though BMW sold over 42,000 X3 models through the three quarters of the year, that presents a 17 percent drop from annual sales through Q3 in 2022.
September sales of the X5 were down 23 percent versus 2022, a drop of about 1,600 fewer units sold. Annual sales through September have dropped 8.35 percent from this time last year.
Don’t expect the alarm bells to be ringing at BMW HQ anytime soon, however. The X3 and X5 still remain one of the top choices among buyers in the compact and midsize SUV segments. Although both significantly trail the popularity of the Lexus RX, which has sold over 83,000 units this year through Q3.
It is worth noting the Audi Q5 has surpassed both BMW models in sales so far this year. Audi has moved over 54,000 units through Q3, a staggering increase of 47 percent over last year.
The 2024 X3 and X5 at a glance
The 2024 BMW X3 is a carryover model from 2023. It’s available in several flavors, including a RWD model, the sDrive30i, or the AWD version dubbed the xDrive30i, both of which are powered by a sprightly 2.0-liter four-cylinder developing 248 hp. The base model starts at $46,900 MSRP, with the AWD model commanding $48,900.
Both models feature 19-inch wheels, LED headlights, a power liftgate, synthetic leather upholstery, dual 10.25-inch displays, a Wi-Fi hotspot, navigation, and several driver aids.
The AWD-only M40i trim is also available starting at $61,900. It’s motivated by a 3.0-liter six-cylinder increasing the X3’s horsepower to 382 hp with 369 lb-ft of torque with added luxe and performance features.
Those who want the ultimate compact performance BMW SUV are offered the X3 M or the even more powerful X3 M Competition variant. These models deliver 473-503 hp and come with M-tuned performance upgrades all around.
While the X3 carries over unchanged, the 2024 X5 receives a host of updates. Most notably, the powertrains of the non-M versions now feature a mild hybrid system with the standard engine’s output increased to 375 hp. The PHEV variant, which now goes under the xDrive50e moniker, has received a boost of 94 hp and now offers up to 40 miles of all-electric driving. Additionally, the 2024 X5 wears a revamped front fascia.
Pricing for the 2024 X5 starts at $65,200 for RWD sDrive40i, with AWD adding $2,300. As standard, the sDrive40i and xDrive40i feature synthetic leather upholstery, heated front seats, a 14.9-inch touchscreen and digital gauge cluster, navigation, a 5G Wi-Fi hotspot, interior ambient lighting and a panoramic sunroof. The X5 rides on 20-inch wheels and features an adaptive suspension.
The M60i model is powered by a 4.4-liter V8 developing 523 hp with a sport-tuned adaptive suspension, rear-wheel steering, upgraded brakes, and an M-specific differential. Pricing starts at $89,300. Like the X3, buyers can further up the ante with the X5 M and X5 M Competition.
The xDrive50e plug-in hybrid is also available starting at $72,500.
While BMW X3 sales and X5 sales are down right now, that doesn’t mean you shouldn’t check out these luxury models.