GM Builds 500,000 XM-Equipped Vehicles
General Motors [NYSE: GM] announced that the 500,000th XM Satellite Radio [Nasdaq: XMSR]- equipped vehicle will roll off the production line in mid-August. GM, an owner of XM, has been increasing availability and volume of XM-equipped vehicles since introducing the feature on two Cadillac models in November 2001.
In the 2003 model year, GM produced nearly 400,000 XM-equipped vehicles for a 15 percent penetration in its total production. Orders for XM-equipped vehicles have exceeded expectations, and GM has increased its penetration outlook for the 2004 model year to 20 percent, the company said.