OnStar will drop the price of its FMV retail mirror to $99 including installation this spring to help boost sales.
Under the new program, OnStar will offer the $99 price tag from May 6 through June 16 for the Dads and Grads/Mother’s Day season. Retailers say the price will then rise slightly to $149 with installation for the remainder of June.
The mirror continues to carry the same service fees to consumers for roadside and emergency services plus handsfree calling starting at $199/year, said OnStar.
Retailers will receive several stipends and free merchandise to help offset the cost of the program, sources said.
These include a $25 stipend for every mirror sold. And during the $99 promotion, retailers will also get an extra $65 “bounty” for each mirror activated. Plus retailers will be offered free mirrors to offset higher prices on older inventory.
OnStar noted that the mirror responded well to a price promotion held over the Christmas holidays when the price dropped to $199.
OnStar also reported demographic data on the typical FMV (For My Vehicle) aftermarket mirror user.
The mirror is most often used by those who own a Toyota (almost 16%) followed by Ford (over 12%), Chevrolet and Honda each at about 12%.
31 percent of Ford vehicle owners who installed FMV already had Ford Sync available.
OnStar compares the full cost of the mirror to a cup of coffee. Even with the premium service that includes turn-by-turn directions (at $299 a year), plus the $99 mirror, the cost of ownership would amount to $1.09 per day, less than a cup of coffee.