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GM to Offer Satellite Radio Service to GMAC Vehicle-Loan Customers

July 19, 2001

General Motors Corp. will offer customers with vehicle loans from General Motors Acceptance Corp. (GMAC) the option of paying for XM Satellite Radio Holdings Inc.'s radio service as part of their monthly auto payment.

GM, which owns 12 percent of XM Satellite, said it will offer the option when customers lease or finance a new vehicle through its dealers and GMAC, the company's finance unit.

XM Satellite has a long-term agreement with General Motors to place its satellite radios in GM's vehicles starting this year. The Washington-based company plans to begin airing as many as 100 channels of news and music from two satellites to U.S. motorists and residences for $9.99 a month by the end of September.

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