Bluetooth, Best Buy (BBY) To Boost General Motors (GM) OnStar Sales - iSuppli
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According to research from IHS (NYSE: IHS) iSuppli, General Motors (NYSE: GM) should see subscriber additions for their OnStar service climb from 5.1 million in 2010 to 7.9 million by 2017.
OnStar sales in new cars will also jump from 2.1 million last year, to 3.2 million by 2017. Renewal rates for the service should be in the 60% range for 2011, and stay in that arena over the next several years.
General Motors' OnStar sales should also benefit from a recent sales agreement with Best Buy (NYSE: BBY), which will allow the retailer to sell and install an OnStar unit on non-GM autos. They say that the device will be able to be installed in about 99% of the top-selling non-GM vehicles made within the last decade.
Bluretooth is also available on OnStar now, allowing GM to compete more directly with Ford's (NYSE: F) Sync. Though Ford's technology is better. IHS believes that General Motors will also be able to sell about 2 million Bluetooth systems with OnStar 2010.
General Motors' shares are down 2% today.
OnStar sales in new cars will also jump from 2.1 million last year, to 3.2 million by 2017. Renewal rates for the service should be in the 60% range for 2011, and stay in that arena over the next several years.
General Motors' OnStar sales should also benefit from a recent sales agreement with Best Buy (NYSE: BBY), which will allow the retailer to sell and install an OnStar unit on non-GM autos. They say that the device will be able to be installed in about 99% of the top-selling non-GM vehicles made within the last decade.
Bluretooth is also available on OnStar now, allowing GM to compete more directly with Ford's (NYSE: F) Sync. Though Ford's technology is better. IHS believes that General Motors will also be able to sell about 2 million Bluetooth systems with OnStar 2010.
General Motors' shares are down 2% today.
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