FOUNTAIN VALLEY, Calif. (AP) -- Hyundai Motor Co. will become the first automaker to equip all of its U.S. models with XM Satellite Radio, the companies said Wednesday. Shares of XM's parent rose more than 8 percent.
The feature will be factory-installed in all models starting in 2006, including the Sonata, Santa Fe, Elantra and upcoming replacement for the XG350 sedan. By 2007, the automaker expects to sell more than 500,000 vehicles equipped with the satellite radio.
"We are setting a new benchmark as the first automaker to launch standard XM satellite radio across our complete model lineup," said Robert Cosmai, president and chief executive officer of Hyundai Motor America.
XM and rival Sirius Satellite Radio Inc. have been signing deals with automakers to install their devices in new cars. Consumers find satellite radio attractive because it has fewer commercial interruptions and more channels even though they must pay a fee for the service.
Hugh Panero, president and CEO of XM Satellite Radio, said the partnership marks one of the automotive industry's most aggressive rollouts of XM satellite radio.
The company has partnerships with General Motors Corp., Honda Motor Co., Toyota Motor Co., Nissan Motor Co., and Volkswagen AG's Volkswagen and Audi brands for factory installation of the service on some models. The service is available in more than 120 different vehicle models for 2005.
XM has more than 3.2 million subscribers and offers more than 150 digital radio channels at a cost of $12.95 a month.
Hyundai Motor America, which is based in Fountain Valley, is a subsidiary of Hyundai Motor Company of Korea. The company has more than 660 dealerships nationwide.
XM Satellite Radio Holdings Inc. shares rose $2.41, or 8.6 percent, to close at $30.45 in Wednesday trading on the Nasdaq Stock Market, while Sirius shares gained 14 cents, or 2.7 percent, to close at $5.42.
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Re: All new Hyundai's to come with XM Satellite Radio
that's cool because if you notice that GM was the first automaker to even offer XM radio as an option. All automakers that carry it have it as an option..but with Hyundai offering it std equip in 06' should make things interesting.
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Re: All new Hyundai's to come with XM Satellite Radio
bah, Circuit had Sirius units for 100.00. So thats what I went for. Gotta love it, no more 20 mins of commericals than 2 songs, 5 min of DJ, 10 min commericals. I love Sirius.
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All new Hyundai's to come with XM Satellite Radio
Lets start the tuning.
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