Sirius XM tops 50 million factory vehicle installations

Article by Anita Panait, on August 24, 2012

Sirius XM Radio Inc. had passed 50 million factory vehicle installations of its satellite radios, the company said in a statement. The satellite radio provider expects to pass 100 million factory vehicle installations by 2018.  The company added that SiriusXM will be fitted in almost 70 percent of new vehicles sold in the United States in 2012.

Jim Meyer, president of operations and sales at Sirius XM, said that the growing installation rate means that SiriusXM is not only available to most new-car buyers, but also to more used-car buyers. Earlier in August, Sirius XM posted a 14-percent increase in subscribers in the second quarter of 2012, thanks to higher new-vehicle sales.

During the second quarter of 2012, Sirius XM added around 622,000 subscribers, raising its total to 22.9 million. Around 1.02 million people subscribed to Sirius XM in the first six months of 2012.

Sirius XM chief executive Mel Karmazin revealed during a conference call on August 7, 2012, that around two-thirds of new vehicles sold in the United States come with a satellite radio and a trial to SiriusXM, thanks to long-term deals with carmakers. Around 45 percent of the trial users became paid subscribers after their new-vehicle trials ended in the second quarter.

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