GM’s XM Satellite Radio Option Now $199
XM Satellite Radio is One of the Fastest Technology Rollouts in GM History
2006-08-16 -DETROIT - General Motors has lowered the option price of factory-installed XM Satellite Radio (NASDAQ: XMSR) by 39 percent to $199, from $325, beginning with most model-year 2007 vehicles. More than 90 percent of GM’s model-year 2006 and 2007 U.S. retail vehicles offer factory-installed XM Satellite Radios as either an option or as standard equipment.
“The economies of scale and engineering efficiencies brought by the rapid pace of XM Radio installations across GM’s product lineup allow us to pass along cost savings to our customers,” said Mark LaNeve, vice president of GMNA Sales, Service and Marketing. “XM Radio has become a must-have feature for many customers and demand just continues to grow. Chevrolet alone has produced over two million XM-equipped vehicles.”
Consumer acceptance has made factory installation of XM Satellite Radio one of the most rapid technology rollouts in GM history. More than 60 percent of current GM customers with XM-equipped vehicles say they will prefer their next vehicle be equipped with XM Radio and 80 percent say they will recommend it to friends and family. General Motors, the industry leader in offering factory-installed satellite radio equipped vehicles, has built over 4 million XM-equipped vehicles since 2001 -- more than all other vehicle manufacturers combined.
“The strong support of General Motors and its customers has been a key factor in establishing and maintaining XM’s leadership position in satellite radio and in-car entertainment,” said Steve Cook, Executive Vice President, Automotive, XM Satellite Radio.
XM is the exclusive satellite radio partner of GM, which offers more than 50 vehicle models that feature XM Satellite Radio -- the most extensive model line up of satellite-equipped vehicles in the industry. GM was the first vehicle manufacturer to introduce satellite radio in 2001 as a factory-installed option on 2002 Cadillac DeVille and Seville models. XM Satellite Radio is standard on all Cadillac models. All GM retail vehicle sales with factory-installed XM radios include a three-month trial service period.
General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM operates one of the world’s leading finance companies, GMAC Financial Services, which offers automotive, residential and commercial financing and insurance. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.
About XM Satellite Radio
XM Satellite Radio (NASDAQ: XMSR) is America’s number one satellite radio company with more than 7 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM’s 2006 lineup includes more than 170 digital channels of choice from coast to coast: the most commercial-free music channels, sports, talk, comedy, children’s and entertainment programming; and the most advanced traffic and weather information.
XM, the leader in satellite-delivered entertainment and data services for the automobile market. XM is available in more than 140 different vehicle models for 2006 and at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com.
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