NAVTEQ Announces One Million Vehicles Sold in North America with Embedded Navigation Systems in 2005
Written by NAVTEQ
Tuesday, 20 December 2005
Annual Sales Benchmark the In-Vehicle Navigation Industry
CHICAGO, Dec. 20 -- NAVTEQ (NYSE: NVT), a leading global provider of digital maps for vehicle navigation and location-based solutions, announced today that for the first time since the introduction of in-vehicle navigation in North America, annual sales of embedded navigation systems exceeded one million units. Based on customer sales data from January 2005 through October 2005, approximately one million vehicles were sold with factory-installed navigation systems, representing growth of more than 40% over recorded sales from the same time period in 2004. Over 90% of car models offering navigation systems in North America use NAVTEQ(R) maps.
The in-vehicle navigation industry in North America has grown significantly since its inception in 1996, with the most notable increases occurring over the past five years.
"The success that the in-vehicle navigation industry has experienced in 2005 is a result of increased consumer awareness and recognition of the value of navigation. The adoption of navigation has broadened from an option offered primarily on luxury vehicles to a technology that is now available on more mainstream vehicle models", commented Dean VonBank, Vice President & General Manager - North American Vehicle Business Unit. "This year's success has set a benchmark and validates the potential of the North American in-vehicle navigation market. NAVTEQ is excited to be a part of this milestone."
About NAVTEQ
NAVTEQ is a leading provider of comprehensive digital map information for automotive navigation systems, mobile navigation devices, Internet-based mapping applications, and government and business solutions. NAVTEQ creates the digital maps and map content that power navigation and location-based services solutions around the world. The Chicago-based company was founded in 1985 and has approximately 1,800 employees located in 127 offices in 21 countries.
NAVTEQ is a trademark in the U.S. and other countries. (C) 2005 NAVTEQ. All rights reserved.
This document may include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to various risks and uncertainties, including those set forth under the caption "Risk Factors" in the Company's Quarterly Report on Form 10-Q for the quarter ended June 26, 2005,as filed with the Securities and Exchange Commission.
Actual results may differ materially from these expectations due to changes in global political, economic, business, competitive, market and regulatory factors. NAVTEQ does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
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