2 Millionth Stolen Vehicle Recovery Unit Sold in 2000
In response to increased consumer demand for automotive security products, Motorola’s Automotive and Industrial Electronics Group, a business unit of Motorola Integrated Electronics Systems Sector, announced it has shipped its 2 millionth LoJack unit to the LoJack Corp., a marketer of stolen vehicle recovery products. Motorola produces the LoJack units, which are marketed under the LoJack name. LoJack’s strategy to expand the use of its technology in the U.S. and international markets where the combination of population density, new-car sales, and a high rate of vehicle theft have led to an increased demand for the product and allowed LoJack to gain significant market penetration. Together, Motorola and LoJack have reached a milestone by producing and marketing a million LoJack units over a three-year period, while the same activity for the first million units spanned a ten-year period, the 2 millionth unit was shipped in the latter part of 2000. LoJack has increased its rate of expansion in the U.S. during the last three years, adding seven new metro areas to the existing 12 active domestic markets. Within existing markets, LoJack has improved distribution through new car dealers, its primary sales channel. To date, installed LoJack units have resulted in more than 42,000 stolen vehicle recoveries -- a 90 percent recovery rate (based on stolen vehicles equipped with LoJack).
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