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Citigroup Inc. Message Board

  • mashiach Mar 1, 2011 7:14 AM Flag


    February 2011 Auto Sales Forecast Bodes Well For Sirius XM
    February 25, 2011 (8:00 am) Spencer Osborne

    With only a few days left in the month industry analysts are projecting a February that continues to demonstrate a healthy recovery for the automobile sector. The news should be music to the ears of Sirius XM Satellite Radio (NASDAQ: SIRI) investors as it is through car sales that the company garners most of their subscriptions.

    Auto sector analyst Michelle Krebs of Edmunds is projecting total auto sales in the neighborhood of 937,000. This would represent a Seasonally Adjusted Annualized Rate (SAAR) of 12.64 million. Should this SAAR come to fruition, it would be the highest SAAR since the Cash For Clunkers back in 2009, as well as the fifth consecutive month with a SAAR over 12 million. Sales of 937,000 also represents a 20.1% increase from last year and a 14.4% increase from last month.

    While the total auto sales is not yet at the 1,000,000 we have come to term as a magic number for Sirius XM, it is the overall projections that 2011 will bring 13 million in sales, well above a 1,000,000 per month average. Sirius XM reported great numbers for 2010 and guided to at least a repeat performance in 2011. In 2010 auto sales came in at 11.6 million. Should auto sales beat 2010′s performance by well over 1 million units, Sirius XM’s guidance for 2011 should be met without issue. In fact, if the auto sector continues the current trend Sirius XM may be raising guidance as soon as their next quarterly call.

    Auto sector sales performance and manufacturing data is integral to Sirius XM’s growth. Stay tuned to SiriusBuzz next week for our unique look at the actual numbers with the additional feature of breaking down the auto sales figures by type of subscriber.

    [via Edmunds]

    Position – Long Sirius XM Radio

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