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Columbia Business Monthly

The Business Narrative: New Annual Record

Jan 16, 2024 12:14PM ● By Donna Walker

BMW of North America Reports Q4 2023, Full Year 2023 U.S. Sales Results

BMW of North America reported Q4 2023 and full year 2023 sales results for the BMW and MINI brands in the U.S.


In the fourth quarter of 2023, BMW sales in the U.S. totaled 107,881 vehicles, a 6 percent increase from the 101,738 vehicles sold in the fourth quarter of 2022.


For the full year 2023, BMW sales increased by 9 percent on total sales of 362,244 vehicles compared to the 332,388 vehicles sold in 2022.


Company officials said that represents a new annual record for BMW sales in the U.S. 


BMW Electric Vehicle Sales 

Following the market launch of the first-ever BMW i5 in November, BMW now offers four full battery electric vehicles in the U.S. – the BMW i4, BMW i5, BMW i7, and BMW iX.


BMW sold 14,374 battery electric vehicles in the fourth quarter of 2023, a 65.4 percent increase over the 8,689 battery electric vehicles sold in the fourth quarter of 2022. For the full year 2023, BMW sold 45,417 battery electric vehicles, which represents 12.5 percent of total sales for the year.


In addition, the company sold 25,318 plug-in hybrid electric vehicles in 2023, bringing the total number of electrified vehicles sold to 70,735, or 19.5 percent of total sales.


“We attribute the success of 2023 to two main factors – the strength, breadth, and quality of our product line-up, and the close collaboration with our national dealer network,” said Sebastian Mackensen, president and CEO, BMW of North America.


MINI Brand         

MINI brand sales in the U.S. totaled 10,728 vehicles in the fourth quarter of 2023, an increase of 4 percent versus the 10,319 vehicles sold in the fourth quarter of 2022.  For the full year 2023, MINI brand sales increased by 13.5 percent on total sales of 33,497 vehicles compared to the 29,504 vehicles sold in 2022. 


BMW Group Plant Spartanburg in South Carolina assembles the BMW X3, X4, X5, X6, X7, and XM Sports Activity Vehicles and Coupes and their variants. More than 1500 vehicles are assembled daily and exported to 120 countries.


The BMW Group has announced that it would invest $1.7 billion in its U.S. operations, including $1 billion to prepare the Spartanburg plant for the production of fully electric vehicles and $700 million to build a new high-voltage battery assembly plant in Woodruff, South Carolina.


By 2030, the BMW Group will build at least six fully electric models in the U.S., according to company officials.

Amentum Awarded $946M Contract to Manage U.S. Army Fixed Wing Aircraft Fleet Used in Transport Missions

Chantilly, Virginia-based Amentum was awarded a $946 million contract to provide complete system maintenance and modernization solutions for the U.S. Army’s government-owned fixed wing transport aircraft fleet.


Leveraging advanced technologies and best practices, the company will provide life-cycle transport aircraft system modernization, integration, logistical and operational solutions, as well as pilot services and management processes.


Under this contract, Amentum performs life-cycle services including sustainment, modernization, and logistics for a combined fleet of 150 aircraft. The Army’s transport fleet includes C-12, C-26, T-6, and UC-35 aircraft.


Amentum has teamed with Stevens Aerospace and Defense Systems of Greenville, South Carolina, as the primary depot maintenance facility.


The hybrid firm-fixed price contract will begin January 2024, has one base year and five one-year options, and is contracted through Army Contracting Command – Redstone Arsenal. The customer is the U.S. Army’s Program Executive Office – Aviation, Fixed Wing Project Office.


Work on the contract will be performed in various domestic and international locations.

Palmer Johnson Enterprises Acquires South Carolina-based Continental Engines

Palmer Johnson Enterprises has acquired Greenville, South Carolina-based Continental  Engines, a leading distributor specializing in diesel engines and generators.


Financial terms weren’t disclosed.


Officials said the Continental acquisition is a significant step in Palmer Johnson's nationwide expansion and its commitment to diversifying its offerings within the off-highway equipment industry.


“Continental Engines brings an excellent reputation, a team of great people, decades of diesel expertise and strong  vendor partnerships to the Palmer Johnson family of companies,” said Craig Parsons, CEO of Palmer Johnson Enterprises. “Expanding east has been in our strategic playbook for over a decade.”


Continental Engines, operating across the East Coast, represents leading brands such as Hatz, JCB, Hyundai Doosan Infracore, Daedong, CRX, Yamaha, Kirloskar, AMT, Gorman-Rupp Pumps and DFX  Technologies. 


“With this acquisition, Continental will gain expanded engineering ability, a North American service footprint, and new product expansion. We are all excited to continue this growth across the country and appreciate what the future holds for us with the support of the Palmer Johnson family of companies,” said Jeff Cooper, who will stay on as president of Continental Engines. 

Colliers Elects David M. Feild as President; John W. Folsom Continues as CEO, Chairman

Colliers International South Carolina, Inc.’s board of directors recently announced leadership changes as it elected David M. Feild as its president.


John W. Folsom, who has led the company as president for over 30 years, will continue as the company’s chief executive officer and chairman.


Under the board’s approved succession plan, Feild will assume the CEO role in early 2025. Officials said the strategic move aligns with the company's vision and its carefully designed succession plan.


Said Folsom: "This is certainly an exciting time for Colliers as we make these transitions to ensure the longevity of our organization, both for our employees and clients as well as our shareholders. I am confident Colliers will continue to thrive under David's leadership."


Feild, a seasoned commercial real estate professional with over 25 years of experience, has played an integral role in the company's growth.


Officials said his decade-long tenure as market president for Colliers’ Upstate region has been marked by exceptional strategic insight, unwavering commitment to excellence and a track record of fostering growth across multiple service lines within the firm.


He holds numerous community leadership positions including immediate past chair of the board of directors for Ten at the Top and vice chair for Advocacy for the Greenville Chamber of Commerce board of directors.


He is currently a member of the 2024 Class of Leadership South Carolina. Feild is a Riley Fellow from his alma mater, Furman University, and a past board member of its Alumni Association. 


Said Feild: “The economic development landscape across South Carolina continues to present an enormous opportunity for our clients and talented professionals at Colliers. Johnny and the leadership team have created a 117-year legacy of client service, community involvement and shareholder value."


Feild added, "We are very well-positioned for added success across the state, and I am incredibly excited for our future.”


Colliers International South Carolina Inc. was founded in 1906 in Columbia by Walter A. Keenan as The Keenan Company. Following Keenan’s leadership, the company was led by his son, Walter M. Keenan.


Neel Keenan, grandson of Walter A. and son of Walter M., has been with the company since 1976 and is a senior vice president.


Colliers | South Carolina is the largest full-service commercial real estate firm in South Carolina with 62 licensed real estate professionals covering the state with locations in Charleston, Columbia, Greenville and Spartanburg.

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