Since its launch in 2009, BMW's (NASDAQOTH:BAMXF) X1 has scored big with consumers. In fact, when it launched in Europe, it sold so well that the U.S launch date had to be pushed back due to lack of supply. What's more, in September, X1 sales increased 13.6% compared to the same time last year, and helped contribute to BMW's record-breaking sales -- great news if you're looking for your next car stock. Here's what else you need to know about this hot-selling model.
Consumers and the allure of a compact SUV
At slightly more than 14 feet long and 5 feet high, the X1 falls into the category of "compact SUV." There are a number of engine options for the X1, but the base, which has a starting MSRP of $30,800, is the sDrive28i. Powered by a turbocharged 2.0-liter inline four-cylinder engine that produces 240 hp and 260 pound-feet of torque, the X1 can go 0-60 in 6.2 seconds, has an EPA-estimated fuel economy of 23 mpg city/34 mpg hwy/27 mpg combined, and sports a drag coefficient of 0.33.
More importantly, consumers love the X1. For the first nine months of 2013, BMW sold 116,451 X1s, compared to 102,519 for the same time last year -- a 13.6% increase. Furthermore, September U.S sales of the X1 increased to 1844 units sold, compared to 1570 units sold in September 2012 -- that's an increase of 17.5%. Additionally, the X1's sales increase is in contrast to the overall U.S market's September sales decline of 7.7% for small premium brand utility vehicles .
The future of BMW
BMW has a number of things going for it, and so far, 2013 is shaping up to be a great year for the company. Not only has it scored a success with its X1, but it's also seen incredibly strong worldwide sales of its 3 Series (up 27.6% year to date), 5 Series (up 2.7% year to date), and 6 Series (up 22.6% year to date). Even better for investors, BMW's luxury auto market share in America reached 17.5% in September, second only to rival Daimler's (NASDAQOTH:DDAIF) Mercedes-Benz market share of 18.3%.
Furthermore, like I've said before, as far as car stocks go, BMW's luxury car market share in China is second only to Volkswagen's (NASDAQOTH:VWAGY) Audi market share. As such, BMW has a strong, and growing presence in one of the fastest-growing luxury car markets in the world. All these factors suggest, BMW could make a great addition to your investing portfolio.
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Fool contributor Katie Spence has no position in any stocks mentioned. Follow her on Twitter @TMFKSpence. The Motley Fool recommends BMW. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.