It’s likely that when you hear the words “Sirius XM Radio,” you automatically think “car radio” and there’s a good reason why. Currently, the company has contracts with nearly all major carmakers, including Ford, General Motors, and Toyota. While Sirius XM currently has a 70% growth metric in the new car market, it’s slowed down a bit in the last few years, causing the company to search for a new market—and they’ve found it in used cars.
Companies like CarMax and Vehix, which sell used cars, say that the used car market currently has only 30% of satellite radio penetration, making it the perfect market for Sirius XM. The satellite radio provider has used this new market to deploy a variety of initiatives, such as a two-week free subscription, pre-owned vehicle program and Service Lane, to encourage users to subscribe to the company.
Earlier this month, Sirius XM Radio even announced that its services will now be available to auto dealers through a Reynolds ERA Dealership Management System via the Reynolds Certificate Interface Program. This means that a greater number of dealers will be authorized to provide its services, allowing the company to boost their growth through the used car market.
If you’re looking for a new used car, make sure you stop into Mama’s Used Cars today and see if we have the right one for you.