Should You Buy a 2022 BMW X5 or Wait for the 2023 Version?

The 2023 BMW X5 isn’t changing much. That’s OK because the 2022 BMW X5 is just fine. The BMW X5 is BMW’s best-selling midsize SUV for its mix of utility with seats for up to seven, great optional engine power, and luxury and tech features. Now is the time of the year when dealers traditionally have leftover current-year versions of vehicles on the lot, and it may be a good time to get a good deal on a 2022 BMW X5 before the 2023 X5s get there.

Consumer Reports calls the 2022 BMW X5 “one of the best”

The BMW X5 has been called "one of the best" by Consumer Reports.
2023 BMW X5 | BMW

Consumer Reports recommends the 2022 X5. J.D. Power, however, gives it an average score for its reliability. BMW isn’t changing the X5 for 2023, other than a few different options and a slight price increase. The 2022 BMW X5 comes in four versions: the X5 xDrive40i or sDrive40i, X5 xDrive45e, X5 M50i, and M. The sDrive model is rear-wheel drive, while the xDrive is all-wheel drive. The 2023 BMW X5 comes in five flavors: the $61,600 sDrive40i, the $63,900 xDrive40i, the $65,700 xDrive45e, the $85,400 M50i, and the hotrod M for $108,900.

The X5 was all-new in 2019

2022 BMW X5 in black vermillion trim was the major option for 2022.
2022 BMW X5 Black Vermilion | BMW

The BMW X5 was all-new for 2019. At the time it was a groundbreaking design with BMW’s legendarily-smooth 3-liter inline-six engine. Though its 335 horsepower puts it in the middle of its class today, it was on top of the horsepower wars four years ago. 

But even the 2022 wasn’t a big upgrade over 2021, with minimal changes. The big news for 2022 was the addition of a blacked-out Black Vermilion Edition that has special red trim.

The BMW X5 has options galore

Dashboard and front seats in 2023 BMW X5. The leather can be ordered in five colors and two textures.
2023 BMW X5 | BMW

While the base version can be ordered in rear- or all-wheel drive, you can also add M Sport trim, which includes sport seats and new wheels, you can also add leather in four colors, and several exterior and interior trim bits. The higher-level models get additional interior trim colors and the M versions also get M-specific trim, suspension, exhaust, and wheels.

The Premium includes a heads-up display and wireless charging, while the Executive builds on that and adds a panoramic Sky Lounge roof, and climate and seating packages are available, too. But watch out. With options your $61,425 X5 can quickly become a $70,000 X5.

The X5 can hold 72.3 cubic feet of stuff with the seats folded down, that’s 10 more than the smaller X3. For comparison, the 2023 RAV4 holds 69.8 cubic feet of stuff with its seats folded.

The competition is closing in on the X5

A gray Lexus RX350Lin a driveway
2022 Lexus RX 350L | LExus

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In sales, at least, the 2022 Lexus RX just beats the 2022 BMW X5, according to GoodCarBadCar, which tracks vehicle sales. The Audi Q8, Mercedes GLE, and Volvo XC90 are all in the same category. The Mercedes and Volvo are less expensive and offer similar levels of luxury and tech. But, the BMW has driving dynamics the others don’t beat. The base GLE, however, has more power and about the same levels of utility. But, it doesn’t have a seven-seater option.

Like the BMW, the RX can be ordered as a hybrid.

If you like the X5, but want to spend more, there’s the X6

Rear angle view of gray 2023 BMW X6 shows its sloping roof line that robs the rear of cargo space.
2023 BMW X6 | BMW

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If you want to spend a bit more and get less practicality, there’s the X6. That could be a bit of an unfair comparison because the X6 is basically an X5 with a hatch-like rear roof and a bulldog face. That sporty hatch does cut down on space, but the X6 comes with the M-tuned suspension standard, and that makes it handle like a sports car.  

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