I have a very similar one on my X. it was a dream to install! (right after i realized that i had to take the old stiffening bar off before putting the hitch on)
Ive hauled lots of trailers with it, and its great! holds up really well and looks pretty well engineered.
any questions feel free to pm me!

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2003 X5 3.0i (02/2003) sport package, Sapphire black metallic / Black Dakota Sport seats. compass mirror retrofit, trailer hitch retrofit, Prodigy P2 trailer brake controller installed, PDC retrofit, Lumbar support retrofit. heated rear seats retrofitted. Running boards retrofitted and subwoofer install in progress. 4.8is Brakes installed front and back. Bluetooth TCU installed, Rear Fog lights installed. Retrofitted reclining rear seat backs.