North American vehicle market continues to embrace in-vehicle navigation despite challenging economic conditions
CHICAGO, March 4 -- NAVTEQ, a leading global provider of digital map data for vehicle navigation and location-based solutions, marked 2008 as a year of continued growth for the in-vehicle navigation industry with the introduction of navigation as a new option on 26 North American car models across 15 automotive brands, including Aston Martin, BMW, Chevrolet, Dodge, Ford, Honda, Hummer, Hyundai, Infiniti, Jaguar, Kia, Lincoln, Nissan, Toyota and Volkswagen. In 2008, 208 car models offered in-vehicle navigation out of the 318 models sold.
As the percentage of vehicle models offering navigation climbed to 72% in 2008, so did general awareness of navigation. In 2008, NAVTEQ's annual consumer awareness tracking study shows that awareness of navigation approached 100%, with 94% of the U.S. driving population considering themselves familiar with navigation, versus 84% in 2005. In addition, real-time traffic information for in-vehicle navigation more than doubled from 2007 to 2008 with a total of 94 car models offering traffic information. Overall, the installed base for vehicles sold with navigation reached 8 million in 2008.
"In 2008, 56% of the U.S. driving population stated that in-vehicle navigation is somewhat or very important in their next vehicle purchase decision," said Dean VonBank, vice president and general manager-Vehicle Americas, NAVTEQ. "Even in a struggling economy we expect increased consumer interest in navigation and are optimistic consumers will continue to demand in-vehicle navigation in 2009."
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 4,000 employees located in 196 offices and in 36 countries.
