There are intriguing changes happening for the BMW XM. First, the previously named Label Red is now just the Label. Plus, there's an incentive to knock $9,900 off the performance SUV's price.

The reason for changing the moniker to XM Label was to simplify the name, a BMW spokesperson told Motor1. We have reached out to other people at the company for a more detailed explanation but haven't heard back yet. Curiously, the automaker made no official announcement regarding the name change.

Gallery: 2024 BMW XM Label Red

BMW already updated the vehicle's name on its consumer-facing platforms, including the company's homepage. Early promotion for the SUV played up the crimson name by showcasing the color on the vehicle's stripes or in the background of images. Now, the brand isn't using the rouge shade as much when showing off the model.

There's also a significant discount available for the XM. Cars Direct reports that there's a $9,900 loan credit whether or not buyers choose to finance through BMW Credit. The offer is reportedly available from November 2 through November 30, 2023, according to several BMW dealer sites. This is an even bigger discount than the $7,500 tax credit that folks who lease the model get. We have also contacted the automaker for more info about this offer.\

For reference, the XM starts at $159,995, and the Label is $185,995. With this incentive, buyers are getting around five to six percent off the vehicle's base price. 

The XM Label is the most powerful production vehicle ever from BMW's M division. It uses a hybrid-assisted 4.4-liter V8 making a total of 738 horsepower and 738 pound-feet of torque. In comparison, the powertrain in the regular trim of the SUV has 644 hp and 590 lb-ft.

As of the third quarter of 2023, BMW has moved 1,614 examples of the XM. The vehicle wasn't available last year, so we don't know how that figure compares to previous models.

BMW recently touted the XM Label rushing up the Pike's Peak Hill Climb course in 10 minutes and 48.60 seconds. However, this is not a course record for the segment. The Lamborghini Urus Performante ran the stage in 10 minutes and 32.06 seconds. The German automaker celebrated its model's time as the fastest ever for a hybrid production SUV.

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