XM extends contracts with Honda and Toyota

By From Automotive News | Feb 01 2007
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XM Satellite Radio Inc. has extended contracts with Toyota Motor Sales U.S.A. Inc. and Honda Motor Co. for factory installations of XM radio in the companies' vehicles.

Toyota and Lexus models will be equipped to play XM radio through 2017 under the contract. Toyota expects to produce more than a million XM-equipped vehicles annually by 2010.

Honda and Acura models will be outfitted for XM radio through 2016 under Honda's new contract. American Honda has produced more than 1.5 million cars with XM installed to date.

XM also equips General Motors, Hyundai, Nissan and Volkswagen/Audi models with satellite radio. The service is offered in more than 140 different 2007 models.

XM has more than 7.6 million subscribers for its 170 channels.

Sirius Satellite Radio, XM's only satellite competitor, has just over 6 million subscribers for its 130 channels. Both charge $12.95 a month.

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