XM Reaches Agreement With GMAC

By | July 19, 2001 at 12:00 AM

XM Satellite Radio is now one step closer to making XM-capable receivers available to the public prior to launching its subscription service later this summer. The company today announced an agreement with GMAC to include the monthly XM subscription fee as part of the lease or finance of new GM vehicles when customers finance through GMAC. Under the accord, customers with GMAC financing can choose not to receive a separate bill for XM’s service. Instead, the XM subscription may be included in their monthly car payments.

“We are excited to see the strong support General Motors is providing to ensure XM Radio is implemented properly,” said Steve Cook, XM’s Senior Vice President of Sales and Marketing. “Rolling the monthly service fee into the monthly car payment is a win-win situation. Consumers will appreciate the ease and convenience while XM and GM benefit by higher subscriber penetration.”

XM has a long-term distribution agreement with General Motors to integrate XM radios into its vehicles beginning this year. GM, which owns a 12 percent share of XM directly and through its subsidiary DirecTV, has said it will make XM-ready radios available in the 2002 models of the Deville and Seville automobiles, due to appear in show-rooms this fall.  

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