DETROIT and ORLANDO,
Fla., Nov. 13, 2018
/PRNewswire/ -- VOXX Automotive, a leading designer,
manufacturer and supplier of electronic products for the world's
automakers, has been named a finalist for the 2019 Automotive
News PACE Awards, a juried program that honors suppliers to the
automotive industry. VOXX Automotive is a business unit
of VOXX International
Corporation (NASDAQ: VOXX).
VOXX Automotive's eFob Phone-as-a-Key (PAAK) technology was the
reason for its selection as a finalist. This important evolution in
keyless entry means more than consumers no longer need to carry
their car keys. They can access, drive and share their vehicle
seamlessly through the use of a smartphone and an eFob-enabled
Bluetooth mobile application and infrastructure with the confidence
knowing the system affords bank-level encryption and
cybersecurity.
"This global field of PACE finalists illustrates the
technological transformation that's taking place in the industry,"
said J Ferron, PACE director of judging. The PACE Awards, in their
25th year, are given to suppliers for game-changing product and
process innovations that have succeeded in reaching the market.
Winners are determined by an independent panel of judges.
Besides VOXX Automotive, finalists include suppliers
specializing in sensor technology, artificial intelligence and
connected mobility. Interestingly, its eFob PAAK technology is the
sole vehicle access system being considered for the award.
"For the past quarter century, this award has come to be
recognized as the industry benchmark for innovation," said
Michael Schroeder, VOXX Automotive's
senior vice president, OEM Sales and Business Development. "VOXX
Automotive is honored to be a finalist in this highly regarded
awards program. More importantly, it affirms our view that the VOXX
Automotive eFob technology will have a profoundly positive impact
on the automotive industry, car buyers, drivers and, as vehicle
sharing becomes ubiquitous, and fleet operators expand around the
world."
VOXX Automotive believes its eFob PAAK technology is something
consumers want as it makes car keys a thing of the past.
Importantly, it is expected to further accelerate the expansion of
car sharing, a market projected to grow at a 34.8% year-over-year
rate between now and 2024, based on analysis by Global Market
Insights. It is also seen to have a similar impact on the growth of
the car rental market, estimated to show a compound annual growth
rate of 10.24% between now and 2220, according to Research and
Markets. It represents yet another way the company helps automakers
differentiate themselves from other marques in the increasingly
competitive global automotive market.
About VOXX Automotive
VOXX
Automotive, headquartered in Orlando, Florida with OEM
operations in Detroit, Michigan, is a global automotive designer,
manufacturer and supplier of a broad range of consumer visible
electronic products for the world's automakers on an OEM basis. The
Company is an innovative leader in rear-seat infotainment
solutions, vehicle security and seamless access systems, remote
start systems, car sharing systems, smartphone telematics
applications and more. VOXX Automotive counts among its
customers FCA, Ford, GM, Hyundai,
KIA, Lincoln, Mazda, Nissan, Subaru,
and Toyota, among others. For more information, please
visit www.voxxintl.com/bu/automotive.
About VOXX International Corporation
VOXX
International Corporation (NASDAQ: VOXX) has grown into a
worldwide leader in the Automotive, Consumer Electronics, Consumer
Accessories and Premium Audio industries. Today, the Company has an
extensive distribution network that includes power retailers, mass
merchandisers, 12-volt specialists and many of the world's leading
automotive manufacturers. The Company has an international
footprint and a growing portfolio, which comprises over 30 trusted
domestic and global brands. Among the Company's brands are
Klipsch®, RCA®, Invision®, Rosen®, Audiovox®, Terk®, Acoustic
Research®, Advent®, Code Alarm®, 808®, Prestige®, EyeLock, Jamo®,
Energy®, Mirage®, Mac Audio®, Magnat®, Heco®, Schwaiger®, and
Oehlbach®. For additional information, please visit our Web site
at www.voxxintl.com.
Safe Harbor Statement
Except for historical
information contained herein, statements made in this release that
would constitute forward-looking statements may involve certain
risks and uncertainties. All forward-looking statements made in
this release are based on currently available information and the
Company assumes no responsibility to update any such
forward-looking statements. The following factors, among others,
may cause actual results to differ materially from the results
suggested in the forward-looking statements. The factors include,
but are not limited to risks that may result from changes in the
Company's business operations; our ability to keep pace with
technological advances; significant competition in the automotive,
premium audio and consumer accessories businesses; our
relationships with key suppliers and customers; quality and
consumer acceptance of newly introduced products; market
volatility; non-availability of product; excess inventory; price
and product competition; new product introductions; foreign
currency fluctuations and concerns regarding the European debt
crisis; restrictive debt covenants; the possibility that the review
of our prior filings by the SEC may result in changes to
our financial statements; and the possibility that stockholders or
regulatory authorities may initiate proceedings against VOXX
International Corporation and/or our officers and directors as
a result of any restatements. Risk factors associated with our
business, including some of the facts set forth herein, are
detailed in the Company's Form 10-K for the fiscal year
ended February 28, 2018.
VOXX
Contacts
|
|
|
Company
Contact
|
Investor
Relations:
|
Media
Relations
|
Michael
Schroeder
|
Glenn
Wiener
|
Steve Hoechster
(HEX-ster)
|
VOXX
Automotive
|
GW
Communications
|
GW
Communications
|
248-307-3883
|
212-786-6011
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212-786-6015
|
mschroeder@voxxintl.com
|
gwiener@GWCco.com
|
shoechster@GWCco.com
|
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SOURCE VOXX Automotive