Sirius XM Radio recently passed 50 million factory vehicle installations of the company’s satellite radios. Since SiriusXM launched ten years ago, the satellite service’s penetration rate as a percentage of new U.S. auto sales has climbed every year. SiriusXM this year will be factory installed in close to 70% of all new vehicles sold in the U.S. SiriusXM is available in vehicles from every major car company, as well as most specialty auto makers.
“We are proud that SiriusXM has reached this major milestone since it directly reflects the strong commitment by all automakers to satellite radio and the high level of enjoyment by consumers for our unrivalled audio entertainment service,” said Jim Meyer, President, Operations and Sales, SiriusXM. “The growing installation rate means that SiriusXM is not only widely available to most new car buyers, but is also available to more and more used car buyers. We expect to double factory installed vehicles to over 100 million by 2018 and plan to offer our unique content and valuable entertainment to even more customers in the future.”
RBR-TVBR observation: Not bad, and the stock is steadily increasing now as well. Remember, though, that these radios encompass both XM and Sirius OEM installations before the merger and certainly do not mean 50 million vehicles are activated with paying customers.