SiriusXM Radio (NASDAQ: SIRI) today announced that beginning in 2013 Toyota will significantly increase the availability of SiriusXM across its entire vehicle line-up. This represents an expansion of an existing deal that runs through 2017. Toyota has offered satellite radio in several models for quite some time, but has not been as aggressive as other automakers in equipping cars. The new deal should add significantly to the install rate on Toyota vehicles as well as serve to make satellite radio more available to consumers.
Over the past two years the dashboard has become quite an interesting place. Cars are getting more capable and the services available through the multi-media systems are more extensive. SiriusXM, through this deal, will now be standard on the majority of Toyota’s multimedia systems such as EnTune. For some models this will be the first time SiriusXM will be available as a factory option across all trim levels.
Toyota provides customers purchasing new Toyota vehicles with a factory-equipped satellite radio a three-month SiriusXM subscription featuring commercial-free music, premier sports talk and live events, comedy, news, and exclusive talk and entertainment. Investors should note, these are unpaid promotional trials that are not counted in SiriusXM's subscriber numbers. If consumers convert to self paying, they then become counted in the totals.