General Motors to Build More Than 1.8 Million Vehicles With Factory-Installed XM Satellite Radio in 2007
WASHINGTON, Dec. 5 /PRNewswire-FirstCall/ -- XM Satellite Radio (NASDAQ: XMSR), the nation's leading provider of satellite radio with more than 7 million subscribers, along with General Motors announced today that GM plans to build over 1.8 million vehicles with factory-installed XM Satellite Radio in 2007.
GM was the world's first automaker to offer satellite radio when it introduced XM as a factory-installed feature on Cadillac Seville and Deville models in 2001 and continues to lead all automakers in offering factory- installed satellite radio.
"This announcement continues to demonstrate General Motors' commitment to providing XM Satellite Radio services to our new vehicle buyers," said Rick Lee, General Motors Executive Director. "This, coupled with our August announcement to lower the option price of factory-installed XM to $199, supports our effort to offer XM Satellite Radio to more customers."
"General Motors has been instrumental in growing our business by introducing millions of car buyers across the nation to the extraordinary content of XM Radio," said Steve Cook, executive vice president, Automotive, XM Satellite Radio. "XM has been focused on the new car market since inception and GM has led the way for the industry. It is exciting to see GM driving the installation of XM into significantly more cars and trucks as a means to differentiate and enhance the appeal of their vehicles."
GM continues to have the most extensive model line up in the industry with over 50 models featuring XM Radio. Every GM vehicle with factory-installed XM includes a three-month trial service period.
About XM Satellite Radio
XM (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, Chicago, 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: commercial-free music, premier sports, news, talk radio, 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 through partnerships with auto manufacturers such as General Motors, and is available in 140 different vehicle models for 2006. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit xmradio.com.
Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-9-06. Copies of the filing are available upon request from XM Radio's Investor Relations Department.
SOURCE: XM Satellite Radio
CONTACT: Chance Patterson of XM Satellite Radio, +1-202-380-4318,
chance.patterson@xmradio.com
Web site: xmradio.com |
