We recently compiled a ranking of budget-friendly alternatives to the new BMW X5 and in this article we’re going to talk about the cheapest. Check out our free report on the 12 Cheaper Alternatives To BMW X5.

A look at the New BMW X5

Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY), commonly referred to as BMW, is one of the largest luxury vehicle companies based in Munich, Germany. The BMW X5 Luxury Midsize SUV line has a range of models, starting from the BMW X5 sDrive40i, priced at $65,700. The core model has a 3.0-liter twin-turbo engine, which can produce 375 horsepower (hp), and 398 lb.-ft. of torque. It accelerates 0 to 60 miles per hour in 5.3 seconds, with the highest recorded speed being 130 miles per hour. The electrified model, the BMW X5 xDrive50e has a 3.0-liter twin-turbo electric motor engine,  which can produce 483 horsepower (hp), and 516 lb.-ft. of torque. The model is priced at $73,100.

Other models in the BMW X5 line include the BMW X5 M60i and the BMW X5 M Competition, priced at an MSRP of $90,000 and $124,800, respectively. All models have an elegant interior and exterior, with highway assistant technology and the Active Lane Change feature. The BMW X5 M Competition can produce 617 horsepower (hp) and 553 lb.-ft. of torque. It accelerates from 0 to 60 miles per hour in 3.7 seconds, explaining the strength and unmatchable experience of the vehicle.

According to Car and Driver, the BMW X5 has an owners rating of 9.5, out of a possible 10. According to reviewers, the BMW X5 offers a pleasant ride and is impressive with its technological features, especially its infotainment system. Edmunds, on the other hand, has a star rating of 3.5, out of a possible 5. Reviewers synonymously agree with its top-notch performance, spacious interior, and advanced technological offerings. A reviewer, Christian Wardlaw, raised concerns over the limited storage space.

What’s New at the BMW Group?

In 2023, the BMW Group boosted sales of its electric vehicles by more than 375,000 units. This positions the company among its direct competitors in the electric vehicle industry. On April 10, Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY) announced that the company will continue to increase its investment in the electromobility segment. The company sold 82,700 units of its fully electric BMW, MINI, and Rolls Royce vehicles to customers across the globe during the first quarter of 2024.  The first three months of 2024 also brought large sales from the company’s MINI line. More than 62,000 customers bought a MINI in the first quarter of 2024. By the end of February, the company launched the brand new MINI Countryman. The new model is produced in Leipzig and comes with a combustion engine and an electric model. You can also read our piece on the most valuable electric car companies in the world.

The company’s commitment to expanding its offerings explains its financial results. On March 21, Bayerische Motoren Werke Aktiengesellschaft (OTC:BMWYY) reported earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $1.35. The company reported revenue worth $46.65 billion during the quarter, ahead of market consensus by $2.4 billion, with a year-over-year revenue growth rate of 11.6%. On this occasion, Walter Mertl, a member of the Board of Management responsible for Finance, stated:

“We are investing in the future of our company like never before. Construction and modernisation of our plants and the planned expansion of our portfolio are progressing quickly this year. Our capital expenditure and R&D spending will reach new levels. We are expecting a capex ratio above 6% and an R&D ratio above 5%. Both metrics will then return to their usual strategic range. Despite these major investments in our future, we are targeting a free cash flow of over six billion euros in the Automotive Segment in 2024. This speaks to the financial strength of the BMW Group. We continue to focus on cost discipline and sustainable profitability – the long-term target range of 8-10% for EBIT margin in the Automotive Segment remains our benchmark.”

Some of the Biggest luxury Car Companies

Mercedes-Benz Group AG (OTC:MBGAF) and AB Volvo (publ) (OTC:VOLAF) are among some of the most luxurious car producers in the world. Let’s take a look at some of their recent offerings. You can also read our piece on the best selling car brands in the world.

Mercedes-Benz Group AG (OTC:MBGAF) is a luxury vehicle company based in Germany. The company was founded in 1926 and is headquartered in Stuttgart. The company aims to reduce CO2 emissions per passenger per car by the end of 2030 by 50% from its current levels recorded in 2020 and install more than 10,000 charging points by the end of this decade. Upholding its commitment to electric intelligence, on April 24, Mercedes-Benz Group AG (OTC:MBGAF) announced the launch of its new Mercedes-Benz G 580, backed by EQ technology. The vehicle has a 16-kWh high-voltage lithium-ion battery, 759 horsepower (hp), and 859 lb.-ft. of torque. The electric G-Class vehicle supports off-road capabilities and has a robust ladder frame, making its design unmatchable. The battery has a usable capacity of 116 kilowatts per hour (kWh) and is integrated into the ladder frame to ensure a low center of gravity.

AB Volvo (publ) (OTC:VOLAF) is a luxury vehicle company in Sweden, that produces and sells SUVs, station wagons, and sedans. The company launched the Volvo EX90 series this year. The fully electric car hosts 7 seats and holds a strong emphasis on safety. It has an electric range of up to 600 kilometers and is estimated to be charged within 30 minutes. The vehicle accelerates from 0 to 60 miles per hour in 4.9 seconds and has 517 horsepower. Users can connect their vehicle with 5G and Google built-in to enhance their driving and seating experience. It is available in several colors including crystal white, onyx black, denim blue, and platinum gray, to name a few. The vehicle by AB Volvo (publ) (OTC:VOLAF) houses a sensor set featuring lidar, a driver alert system, and an occupant sensing help assistant to identify risks and prevent collisions.

Now that we have discussed the luxury car industry, let’s take a look at the 12 cheaper alternatives to BMW X5. You can also read our piece on the countries with the most car exports.

Our Methodology

To come up with the 12 cheaper alternatives to the BMW X5, we consulted over 10 rankings on the internet. We then sourced the manufacturer’s suggested retail price (MSRP) from the official sites of the vehicle’s parent companies. We ensured that all models in our list were priced below the cheapest BMW X5 model. We then sourced the owner ratings from two sources including Edmunds and Car & Driver. We tabulated the average owner rating, with 10 being the highest and 0 being the lowest rating. Our list only includes models with a star rating of more than 7.5. Our list is in descending order of the manufacturer’s suggested retail price (MSRP) primarily, and the owners rating secondarily.

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The Cheapest Alternative to BMW X5

1. Hyundai Venue Compact SUV 2024

Price: $19,900

Owners Rating: 7.7

The 2024 Hyundai Venue Compact SUV ranks first on our list of the cheapest alternatives to BMW X5. The vehicle has a manufacturer’s suggested retail price (MSRP) of $19,900. The five-seater has a gas engine with a cargo capacity and a combined MPG (gas mileage) of 18.7 cubic feet and 31 MPG respectively. The car has a basic warranty of 5 years. The car is rated 8 on 10 on Car and Driver. Reviewers agree that for the price the interior of the vehicle is pretty open and airy with substantial space. The vehicle also supports lane keep assist and collision avoidance technology, making it one of the cheapest alternatives to the BMW X5.

To learn more about the new BMW X5 and budget-friendly alternatives to it, check out our free report on the 12 Cheaper Alternatives To BMW X5.

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Disclosure: None. This article is originally published on Insider Monkey.