SiriusXM to Launch Program Targeted at Canadian Pre-Owned Vehicle Market
Canadian Satellite Radio Holdings, parent company of SiriusXM Canada, revealed this week it will launch a pre-owned vehicle program in February for Canadian dealers.
The new program will offer participating dealerships — franchised or independent — the ability to include a complementary three-month SiriusXM subscription with any purchase of a pre-owned vehicle equipped with a satellite radio.
The company contends this move will allow it and dealers to reach an "untapped" market for this type of offering — the pre-owned buyer.
Elaborating further on this statement, president and chief executive officer of SiriusXM Canada Mark Redmond said, "The launch of our new pre-owned vehicle program enables SIRIUSXM to aggressively target what has been a relatively untapped market for us to date.
"Our service was first factory installed in vehicles in 2006. Since then, the number of satellite radio equipped vehicles has been increasing rapidly, making the pre-owned vehicle market an important growth avenue for us in the coming years," he said. "By offering a complimentary three-month subscription, we are adding value to pre-owned vehicles, giving even more Canadian drivers the opportunity to experience SIRIUSXM's unrivaled content and positioning the company for subscriber growth."
And to garner more on this development, plus learn how dealers can get involved, Auto Remarketing Canada spoke with James Byun, vice president of OEM for SiriusXM Canada.
When asked why the company has chosen to delve into the vehicle remarketing industry in Canada, Byun said, "Two things: First, it was just a matter of time. This was always in our business plan, and we were just waiting for the perfect timing. It didn’t make sense to launch used-car programs right after we launched as a company … We had to wait for these new vehicles with satellite radio capabilities to make it onto used lots."
Byun also explained recent increased manufacturer participation led to the "perfect" time to launch a pre-owned program.
The exec also stressed that the overall customers satisfaction rate for the company will perhaps help dealers seal deals.
"We have 90-plus percent customer satisfaction rate. And we just renewed the contract with Chrysler. Both OEMs and customers see a value in our services. With this program we think we can fulfill used-car dealers’ needs by offering them the free three-month subscription on all used cars that owners buy with satellite radio capabilities," Byun further explained.
So, how can dealers get involved when the program is launched in February?
First, they can either visit the designated website — Siriusxmpreowned.ca — or through one of the company’s seven district sales managers, whose contact information can be found on the website.
"Once they sign up for our in-dealership used-car program, each dealer will get a package from us. This will include information about the offering, sales sheets, all the marketing details and posters, to name a few things," Byun shared.
Also, tapping into consumers' music preferences, as well as their potential interest in satellite radio, when customers test drive a used car equipped with satellite radio, participating dealers can have those radios on as a demo to promote the offering.