Sirius Satellite Radio and Ford have agreed to extend Sirius’ exclusive relationship with Ford until September 2011, on certain terms and conditions. All Ford brands in the US are covered by the agreement.
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Earlier this year, Ford and Lincoln Mercury announced plans to target up to 21 vehicle lines for factory installation of Sirius over the 2006 and 2007 model years, and announced that they expect to generate up to one million Sirius subscribers over the two model year period. In total, nearly 90% of Ford and Lincoln Mercury vehicles will have Sirius as a factory installed option for the 2008 model year. Factory installed volumes are expected to significantly increase.
Land Rover recently announced plans to offer Sirius as a factory-installed option on select vehicle lines, beginning with the 2006 model year. Volvo, Jaguar and Mazda currently offer Sirius as a dealer-installed option, with future plans to offer Sirius as a factory-installed option and/or as an option installed as overseas vehicles enter US ports.
Ford has the option to extend the agreement until September 2013.
The agreement also contains customary terms and conditions, including termination rights. Beginning in January 2009, Ford may elect to become nonexclusive under the agreement, in which case Ford would forfeit all future economic benefits, which could be significant.
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