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Annual Sales Benchmark the In-Vehicle Navigation Industry
CHICAGO, Dec. 20 /PRNewswire-FirstCall/ -- 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 years 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 Companys 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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