Sirius XM (SIRI) Signs Major Extension Deal With General Motors (GM)

By Amit Chowdhry ● September 14, 2020
  • Sirius XM Holdings Inc (NASDAQ: SIRI) announced it signed an extension of its long-term agreement with General Motors Company (NYSE: GM) that will continue the relationship between the two companies into 2027

Sirius XM Holdings Inc (NASDAQ: SIRI) announced it signed an extension of its long-term agreement with General Motors Company (NYSE: GM) that will continue the relationship between the two companies into 2027. And as part of the new agreement, GM will increase vehicles equipped with SiriusXM to nearly all Chevrolet, Buick, GMC and Cadillac vehicles beginning with model year 2021.

Chevrolet, Buick, GMC and Cadillac customers who are purchasing or leasing SiriusXM equipped vehicles will continue to receive a three-month trial subscription to SiriusXM All Access. SiriusXM All Access delivers SiriusXM’s full lineup of varied content, plus access to SiriusXM outside their vehicles on the SiriusXM app and on connected devices and speakers in their homes. The customers who purchase or lease pre-owned Chevrolet, Buick, GMC, and Cadillac vehicles will also continue to receive a 3-month trial subscription to SiriusXM All Access.

Plus GM will continue to roll out its integration of SiriusXM with 360L to nearly 1 million Chevrolet, Buick, GMC, and Cadillac vehicles. And the number of GM vehicles equipped with SiriusXM with 360L will continue to increase in the years ahead. 

SiriusXM with 360L combines satellite and streaming content delivery into a single in-vehicle entertainment experience, upgrading the way the subscriber interacts with the service by providing more choice along with more personalized user experiences and access to thousands of hours of on-demand content in the vehicle.

KEY QUOTES:

“General Motors was the first automaker to begin factory-installing SiriusXM on select Cadillac models in 2002, and we are very proud to be extending and expanding that longstanding relationship into 2027. GM, forever a leader in delivering innovative technology to their customers, has produced tens of millions of vehicles with SiriusXM installed over the course of nearly 20 years and will deliver SiriusXM to more of their customers than ever as part of this new agreement.”

— Steve Cook, EVP, Sales and Automotive, for SiriusXM

“Our long-standing relationship with SiriusXM reinforces GM’s commitment to provide our customers with the features and services they love. No matter where they’re going, or how long a trip will be, SiriusXM has a channel or content option for everyone, making the ride that much more enjoyable.”

— Santiago Chamorro, Vice President for Global Connected Services, GM

Disclosure: I own a small number of SIRI and GM shares.