American Honda and SiriusXM Extend Relationship to January, 2020, and Increase Penetration of SiriusXM Substantially
10/23/2013 2:59:00 PM
Sirius XM Radio (NASDAQ: SIRI) and American Honda Motor Co., Inc. have extended their relationship to January, 2020, significantly increasing the penetration of SiriusXM factory-installed technology in new Honda and Acura vehicles.
Starting in 2014, American Honda will steadily increase the penetration of SiriusXM across its entire vehicle lineup. The automaker will expand SiriusXM as factory installed equipment on its best-selling models, including the Accord, Civic, CR-V and Pilot, as well as add SiriusXM for the first time ever to the Fit, CR-Z and Insight. In addition, SiriusXM will become standard equipment on Acura ILX.
American Honda introduced its first vehicles with factory-installed satellite radio starting in 2003, and has produced more than 5.6 million vehicles with satellite radio to date.
"American Honda is one of the original automakers to adopt satellite radio, and its increase of SiriusXM factory-installed satellite radio in Honda and Acura vehicles is a testament to the strong demand among customers and dealers for SiriusXM," said Steve Cook, executive vice president, sales and automotive, SiriusXM. "We are pleased to continue our relationship with American Honda to 2020 and look forward to a very significant number of loyal Honda customers becoming part of our family of more than 25 million satisfied subscribers."
"A wide variety of commercial-free music, live sports, and exclusive entertainment programming has become an important feature for our customers," said Art St. Cyr, vice president of product planning and logistics, American Honda. "Increasing the availability of SiriusXM makes our vehicles more fun-to-drive and enjoyable."
Customers purchasing any new Honda or Acura vehicle equipped with satellite radio will receive a 3-month subscription to SiriusXM's All Access Package with access to SiriusXM's premium programming lineup, including every NFL game, Howard Stern, every NASCAR® race, Oprah Radio® and MLB Network Radio, and more, plus access to SiriusXM Internet Radio on smartphones and other connected devices as well as online at siriusxm.com.
For more information on SiriusXM, please visit www.siriusxm.com.
About Sirius XM Radio
Sirius XM Radio Inc. is the world's largest radio broadcaster measured by revenue and has more than 25 million subscribers. SiriusXM creates and broadcasts commercial-free music; premier sports talk and live events; comedy; news; exclusive talk and entertainment; and the most comprehensive Latin music, sports and talk programming in radio. SiriusXM is available in vehicles from every major car company in the U.S., from retailers nationwide, and online at siriusxm.com. SiriusXM programming is also available through the SiriusXM Internet Radio App for Android, Apple, and BlackBerry smartphones and other connected devices. SiriusXM also holds a minority interest in SiriusXM Canada which has more than 2 million subscribers.
Honda offers a complete lineup of cars and trucks through a network of more than 1,000 dealerships in the United States. In 2013, Honda marks 40 years of the Civic model, with more than 30 years of producing automobiles in the region, which began with the Accord in Marysville, Ohio, in November 1982. Having produced more than 25 million vehicles in North America through 2012 using domestic and globally sourced parts, Honda currently operates 14 major manufacturing facilities in North America, producing a wide range of Honda automobiles, all-terrain vehicles, power equipment products, engines and transmissions.
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "believe," "intend," "plan," "projection," "outlook" or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results may differ materially from the results anticipated in these forward-looking statements.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: our competitive position versus other forms of radio and audio services; our dependence upon automakers; general economic conditions; failure of our satellites, which, in most cases, are not insured; our ability to attract and retain subscribers at a profitable level; royalties we pay for music rights; the unfavorable outcome of pending or future litigation; rapid technological and industry change; failure of third parties to perform; changes in consumer protection laws and their enforcement; and our substantial indebtedness. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our Annual Report on Form 10-K for the year ended December 31, 2012, which is filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and we disclaim any intention or obligation to update any forward looking statements as a result of developments occurring after the date of this communication.
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