This edition of the Auto Sales And SDARS Relationships report has some updated data that sector watchers may find useful. We now include estimates for penetration rates (installation of SDARS receivers) broken down by brand as well as an estimated number of installations in the OEM channel on a year to date basis. In particular, with the first quarter just coming to a close, we felt that this data may be helpful in estimating subscribers. We caution that the installation data is a very rough picture of the situation. Penetration rates are based on production, and this data is based on sales. Please refer to note (3) on the chart below for additional information that is important when considering this data.
In March 2008, only seven of the thirty-five major auto makers saw positive year over year results. Sales are down virtually accross the board, and with the exception of MINI (over a 25% gain), those that saw positive results did so in a very modest way. In the first quarter of 2008, there have been 3,598,448 vehicles sold. This represents a drop of almost 7% from the 3,858,159 vehicles sold through March of 2007. For some perspective, sales through March of 2006 were 3,934,883. For satellite radio sector watchers, the good news is that installations are ramping up on a percentage basis in numbers that more than offset the decline in auto sales. This means that the OEM channel can and will still see growth.
Position - Long Sirius, Long XM, No Position OEM's