Sirius XM Radio today announced that it had passed the 50-million mark of factory vehicle installations of its satellite radios.
By 2018, the company expects to reach 100 million installations. According to a company statement, Sirius XM will be installed in nearly 70 percent of new cars sold in the US this year.
“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,” said Jim Meyer, president of operations and sales.
At the beginning of August, Sirius XM announced a 14 percent increase in subscribers in the second quarter of 2012, with the growth being due to higher new-vehicle sales. During the same quarter, the company gained about 622,000 subscribers, bringing the total number to an impressive 22.9 million. In the first half of this year, no less than 1.02 million people subscribed to Sirius XM Radio.
According to Sirius XM CEO Mel Karmazin, roughly two-thirds of new vehicles sold in the United States are factory-equipped with a satellite radio and a trial to SiriusXM service, as the company has long-term agreements with carmakers. Of the trial users, about 45 percent became paid subscribers in the second quarter of the year.