[DallasCajun]

Performance Competition and Price/Shopping Competition aren't always the same thing...but I can see these models being cross shopped for the simple reason that the XM (Label or Base) is just as much of a rare and distinctive model as compared to the Cayenne Turbo/GT and Urus models.

There are Lambo guys, Porsche Guys, etc that just want their brand to sit at the top and aren't going to get anything else anyway. Then there are those that want the distinction of what they own/drive to be rare. And TBH, a Cayenne Turbo GT doesn't look much different that any other Cayenne that you see all day every day. And at least around Dallas it's not that rare to see a Urus either. I've had my XM for 2 months and only had 3 sightings in that time yet I see those other ones a LOT. And if you add the SQ8/RSQ8, Bentayga and even G63 to the equation the quickly becomes more unique of a vehicle.

So I'd call them competitors as in many ways they have the same set of potential buyers...and in many ways they don't.