XM Leaning on Carmakers

Stock quotes in this article: XMSR , SIRI , HMC , TM , GM , F  

"While the retail market continues to be an important driver of our growth, the recent softness in this market underscores the validity of XM's automotive-centric strategy," XM said in a statement Tuesday.

Last week, XM said it expected auto partner Honda (HMC Quote) to factory-install 650,000 radios in its 2007 model year vehicles, up from 550,000 in 2006.

Sirius shares fell 28 cents to $3.89 and XM was down 28 cents to $14.33 in late afternoon trading Tuesday.

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