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Greenville Business Magazine

The Business Narrative: BMW Brand Sales Rise

Oct 04, 2022 11:18AM ● By David Dykes

BMW of North America Reports Q3 2022 U.S. Sales Results

BMW of North America reported Q3 2022 sales results for the BMW and MINI brands in the U.S.

In the third quarter of 2022, BMW brand sales in the U.S. totaled 78,031 vehicles, a 3.2 percent increase from the 75,619 vehicles sold in the third quarter of 2021.

Increased availability of the battery electric BMW iX Sports Activity Vehicle and BMW i4 Gran Coupe fueled sales growth in all three months of the third quarter.

As a result, the company said it also set new quarterly benchmarks for both battery electric (4,337) and plug-in hybrid electric deliveries (10,858 BEV & PHEV combined).

BMW’s battery electric lineup will expand in the fourth quarter as the first-ever fully electric BMW i7 Sedan begins arriving at U.S. dealerships.

BMW Sports Activity Vehicles continue to be an important part of the company’s sales success in the U.S., accounting for over 62 percent of sales year-to-date.

In all, sales of Sports Activity Vehicles are up 16.6 percent through the first three quarters of the year.

An all-new addition to the line-up, the hybrid-electric BMW XM, was unveiled at the end of September and will begin arriving in showrooms early next year.

MINI brand sales in the U.S. totaled 7,178 vehicles in the third quarter of 2022, an increase of 11.4 percent versus the 6,445 vehicles sold in the third quarter of 2021.

BMW Manufacturing Co., LLC in South Carolina is the BMW Group global center of competence for BMW X models and manufactures the X3, X4, X5, X6 and X7 Sports Activity Vehicles.

McMaster, Clyburn, S.C. Broadband Office: Over 100,000 More S.C. Households Received Broadband Access in 1 Year

Gov. Henry McMaster and Congressman James E. Clyburn were joined by officials from the South Carolina Office of Regulatory Staff’s State Broadband Office to announce that just over one year into the state’s efforts, over 100,000 additional households now have access to high-speed broadband service.

Through a combination of state and federal funds, South Carolina has dedicated a total of nearly $480 million to be invested in expanding access to broadband services throughout the state – most notably in rural areas which previous didn’t have any access.

Over $55 million has been awarded in the form of grants to internet service providers. Within the next year, another $400 million will be awarded, beginning with $180 million by December of this year.

Finally, an additional $100 million, at a minimum, will be awarded to South Carolina through the Infrastructure Investment and Jobs Act, according to McMaster’s office.

Taken together, the funds will allow South Carolina to meet its public funding need for bringing high-speed service to unserved South Carolinians, the Republican governor’s office said.

Clyburn has been a tireless and critically important advocate in Congress for expanding access to broadband.

“I want to thank the governor for doing something that a lot of people with less vision did not do,” Clyburn, a Democrat, said.

“Through the State Broadband office and its leadership, South Carolina has created a model that other states are now following. When it comes to education, health, or anything else – broadband will make it all more accessible and affordable.”

For additional information about the state’s ongoing efforts to expand access to broadband, including maps detailing up-to-date progress, go to the State Broadband Office’s website here.

For the full video of the press conference, click here.

SC Economic Outlook

 The South Carolina Leading Index (SCLI) rose in August to a value (following revisions) of 102.71, according to the South Carolina Department of Commerce.

SCLI metrics were mixed. Unemployment claims were 22.6 percent lower than in July. The number of issued housing permits fell 2 percent month-over-month while valuation for the permits rose 0.3 percent. Average weekly manufacturing hours were up 1.5 percent. The Dow Jones Composite Average was down 4 percent.

The Conference Board's national Leading Economic Index decreased in August, following revisions, to 116.2. The Conference Board notes the possibility of a short, mild recession by the end of the year or early 2023.

South Carolina’s total non-seasonally adjusted nonfarm employment rose by 9,600 net jobs to 2,243,000 in August, which was 0.4 percent higher than July numbers and 4.7 percent higher than one year ago.

Sectors reporting net job gains for the month included Government (6,100); Professional and Business Services (4,900); Manufacturing (1,400); Educational and Health Services (1,000); Trade, Transportation, and Utilities (1,000); and Finance (200).

Net job losses were reported in the Leisure and Hospitality (-4,400); Information (-200); Construction (-200); Natural Resources and Mining (-100); and Other Services (-100) sectors.

Compared to one year ago, the state economy added 101,000 net nonfarm jobs.

The average number of initial reported claims for unemployment insurance in the state decreased in August. The average for the month was 2,210 weekly initial claims, down 22.6 percent month-over-month.

In August, the number of building permits issued in South Carolina for new residential construction fell 2 percent to 3,797. That figure was up 4.6 percent from one year ago. Valuation for the permits rose 0.3 percent month-over-month and was 19.5 percent higher than one year ago.

Total closings were up 6.9 percent compared to July, while the median sales price was down 1.8 percent.

Total closings rose in five of the six MSAs, with only Charleston reporting a decline (-3.2 percent). Median sales price rose in three of the MSAs, with Columbia reporting the greatest increase at 0.7 percent.

TD SYNNEX to Host 2,000+ in Greenville 

 TD SYNNEX Corporation, with its distribution headquarters in Greenville, S.C., will welcome more than 2,000 IT leaders from across the U.S. and Canada to Greenville for its annual TD SYNNEX Inspire Conference.

Just over a year after the merger of SYNNEX Corporation and Tech Data, creating the largest IT distributor in the world, the 2022 event will be TD SYNNEX’s inaugural Inspire Conference and is expecting representatives from more than 450 customer partners.

The conference includes keynote speeches from IT industry leaders; an expansive solutions pavilion showcasing the latest technology for markets such as education, government, retail and commercial; breakout sessions; and networking opportunities.

The Inspire Conference challenges IT partners to take advantage of unique TD SYNNEX tools and resources while addressing new possibilities as the IT industry continues to evolve. 

To be held this week, one of the largest corporate events in Greenville, TD SYNNEX will occupy more than 1,000 hotel rooms and use several downtown restaurants in addition to other event venues and conference spaces used at The Greenville Convention Center and Hyatt Downtown.

Allow us to tell your company's Business Narrative. Send your press release to David Dykes or for more information email [email protected]