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<keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword>, one of the leading <keyword id="22160307" type="General" weightage="20" keywordseo="two-wheeler-manufacturers" source="keywords">two-wheeler manufacturers</keyword> in the country, has announced a price increase for its <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">motorcycles</keyword> and <keyword id="22160306" type="General" weightage="20" keywordseo="scooters" source="keywords">scooters</keyword> starting from July 1, 2024. This information was conveyed by the company in a filing to the exchange on Monday. "Hero <keyword id="20291118" type="General" weightage="20" keywordseo="motocorp" source="keywords">MotoCorp</keyword> will make an upward revision in the ex-showroom prices of select motorcycles and scooters, with effect from July 1, 2024," said the company. The price increase will be up to Rs 1,500 on various models, although the exact amount will differ depending on the specific model and market. "The price revision will be up to Rs. 1,500 and the exact quantum of increase will vary by specific model and market," the company clarified. This means that while some models might see a smaller increase, others could reach the maximum threshold of Rs 1,500. The company has attributed this price adjustment to the rising input costs associated with manufacturing. The company stated that the increase was necessary to mitigate some of these higher costs. "The revision has been necessitated to partially offset the impact of higher input costs," the company stated. The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry. In May 2024 Hero MotoCorp, sold 498,123 units, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments. Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023. However, the company registered growth in export sales. Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

<keyword id="21424173" type="General" weightage="20" keywordseo="German-automaker-Audi" source="keywords" meta.keywordsubtype="org" meta.entityname="German automaker Audi" meta.hostid="153" meta.entityid="German automaker Audi">German automaker Audi</keyword> on Thursday said it will hike prices of its model range in India by up to 2 per cent from June, in order to offset the impact of rising input and transportation costs. The price hike will be effective from June 01, 2024, the automaker said in a statement. "Rising input costs are compelling us to increase prices by up to 2 per cent effective June 1, 2024," <keyword id="19911529" type="General" weightage="20" keywordseo="Audi" source="keywords" meta.keywordsubtype="org" meta.entityname="Audi" meta.hostid="153" meta.entityid="Audi">Audi</keyword> India Head Balbir Singh Dhillon said. The price correction aims to ensure sustainable growth for the automaker and its dealer partners, he added. "It's our endeavour that the impact of rising costs is as minimal as possible for our customers," Dhillon said. Audi India retailed 7,027 units in FY24 posting an overall 33 per cent sales growth. The company sells models like A4, Q3, Q5, RS Q8 in India. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

Audi to hike vehicle prices by up to 2% from June

<ul class="summary-list"><li>Stellantis CEO Carlos Tavares took a subtle jab at <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a>. </li><li>He warned of an industry-wide 'bloodbath' and a race-to-the-bottom on prices. </li></ul>On the surface, you wouldn't think the platform beneath a <a target="_blank" href="https://www.businessinsider.com/electric-car-ev-sales-prices-problem-transportation-2024-1">new generation of automobiles</a> has anything to do with politics and elections.But at Stellantis, new large vehicle underpinnings announced Friday are key to the company's ability to adjust to European and <a target="_blank" href="https://www.businessinsider.com/ev-tax-credit-changes-fewer-models-eligible-2024-1">US government electric vehicle requirements</a> that could change depending on this year's elections.CEO Carlos Tavares says the company's new large platform is flexible enough to handle batteries and electric motors, gas-electric hybrids and internal combustion engines. The company can also build midsize to large vehicles on those underpinnings, including sedans, crossover vehicles, SUVs and even off-road <a target="_blank" href="https://www.businessinsider.com/jeep-sales-falling-iconic-brand-inventory-piling-up-2023-8">Jeeps</a>.That flexibility is important, he said, because policies promoting EVs as a way to fight climate change could be rescinded depending on who is elected U.S. president or to European parliaments this year.Tavares often says that EVs for 40% more to make than vehicles with combustion engines, boosting prices beyond what the middle class can afford. Governments have tried to promote EV sales with subsidies and tax credits, but some countries are starting to rethink those."As soon as you do not fix the affordability issue by giving me a significant subsidy that will fix it, then I stop buying," Tavares said of consumers. "That message is loud and clear."Electric vehicle sales <a target="_blank" href="https://www.businessinsider.com/inside-the-ev-reckoning-electric-car-demand-sales-2023-11">growth is already slowing</a> in many countries with consumers balking at the added cost as well as limited range and too few charging stations. On Friday, <a target="_blank" href="https://www.businessinsider.com/ford-cuts-electric-f-150-lightning-production-affecting-jobs-2024-1">Ford said it was cutting production of the F-150 Lightning</a> electric pickup after weaker-than-expected electric vehicle sales growth.Some political candidates, including GOP front-runner Donald Trump in the U.S., have criticized the move to EVs, indicating they would end policies to promote them.Stellantis, maker of Jeep, Ram, Dodge and other vehicles, has plans for two scenarios, one if populist candidates who are against EVs win, the other if EV-friendly candidates are elected, Tavares said. "One is to accelerate (EVs), the other one is to slow down," he said. "Not necessarily stop. We need to fix the global warming issue."Tavares said in some European countries, governments are imposing electric vehicles on consumers who can't afford them. So many are keeping their current vehicles longer, raising the average vehicle age, which he said is a "disaster" for the planet.Stellantis, he said, makes money on its EVs now, unlike many competitors. Those who can't get strong prices for their vehicles won't have money to invest in lower-cost new ones, and could wind up being consolidated into another company or going out of business, he said.If companies keep <a target="_blank" href="https://www.businessinsider.com/elon-musk-tesla-price-cuts-electric-cars-losing-business-strategy-2023-11">cutting EV prices to attract buyers</a> and don't make money, there could be a "bloodbath" in the industry, Tavares said."I know a company that has brutally cut pricing, and their profitability has brutally collapsed," he added, without naming Tesla.Stellantis said vehicles built off the new large platform will be built at multiple North American and European factories. In North America, it's likely that the first new vehicles to come out will be a replacement for the Dodge Charger muscle car and a new version of the Jeep Wagoneer S.The platform can handle front-wheel drive, all-wheel drive and rear-wheel drive vehicles, the company said. The first will reach the market this year, with eight vehicles from Jeep, Dodge, Chrysler, Alfa Romeo and Maserati on sale by the end of 2026.The company can vary the length and width of vehicles and differentiate them from each other with ride and handling changes as well as infotainment and other interior features. Use of a platform for both battery and gasoline powertrains is unique to the industry, with many competitors building different chassis for each type of propulsion."The flexibility and agility of this platform is its hallmark and will be a driving force for our success in the shift to electrification in North America," Tavares said.A midsize vehicle platform announced by the company last year has similar flexibility, the company said. It's also planning a new small-vehicle platform.

Auto CEO: There will be a 'bloodbath' if every company engages in Tesla's price war 

<ul class="summary-list"><li>Germany's automotive industry is facing an increasingly difficult outlook.</li><li>Volkswagen may close factories in Germany for the first time, and BMW and Mercedes-Benz are struggling.</li></ul>Germany's car giants were once the envy of the world, but now find themselves facing a myriad of threats.BMW and Mercedes-Benz have issued profit warnings in recent weeks amid <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">slumping EV sales in Europe</a> and <a target="_blank" class="" href="https://www.businessinsider.com/chinas-electric-vehicle-market-could-face-a-brutal-reckoning-2024-5">brutal competition in China</a>, while Volkswagen is <a target="_blank" class="" href="https://www.businessinsider.com/volkswagen-considers-closing-factories-germany-job-salary-cuts-autos-2024-10">also facing a reckoning</a>.On Wednesday VW said net profit for the three months to September 30 plunged by almost 64% to 1.57 billion euros, with a 30% decline to 12.8 billion euros for the first nine months of the year. A 4% rise in vehicle sales in North America and 16% growth in South America for the nine months was offset by a 1% decline in western Europe and a 12% slide in China — VW's biggest market outside Europe. It now expects to deliver about nine million vehicles this year, or about 240,000 fewer than 2023.Volkswagen is seeking to cut billions in costs after issuing two profit warnings in three months. On Monday, its top union official said the company was planning factory closures in Germany for the first time, along with pay cuts and layoffs. The Golf and Polo maker is one of Germany's biggest employers with about 300,000 workers.Mercedes-Benz is also <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">pursuing "cost improvements"</a> after last week's lackluster earnings, while BMW stock has been hit by the recall of some <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bmw-recalls-1-5-mln-vehicles-over-braking-system-issue-1033765005">1.5 million cars over a braking issue</a>.<div type="image" title="New Volkswagen cars at a factory" height="2574" width="4625" msid="114777386" hostid="261" sizebytes="794156"></div><h2 id="58206ab8-4040-4a0f-ac1e-b07e60c53b6a">Fight for survival in China</h2>All three giants face a similar problem: they're no longer selling enough cars in China, the world's largest car market and a one-time cash cow for European automakers. About 21.7 million new vehicles were sold in China last year, per the China Passenger Car Association figures, compared with about 15.6 million in the US and 10.5 million in Europe.Like VW, BMW and <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">Mercedes</a> also reported a slide in sales in China in the third quarter, amid waning demand for luxury vehicles and the growing dominance of Chinese EV makers.<div type="image" title="BYD Yangwang U8" height="4093" width="6140" msid="114777389" hostid="261" sizebytes="1395046"></div>Helena Wisbert, professor of automotive economics at Ostfalia University in Germany, told Business Insider: "BMW and Mercedes are selling fewer cars, because the new players in the market for EVs have become really competitive, especially in China."Wisbert said that German manufacturers have failed to anticipate the changing behavior of Chinese consumers and diversify their product lines. She added that Mercedes, BMW, and Volkswagen offer comparatively few hybrid and <a target="_blank" class="" href="https://www.businessinsider.com/extended-range-electric-vehicles-erev-gas-generator-range-anxiety-2024-8">extended-range vehicles</a> — categories that have proven extremely popular in China.European carmakers are under intense pressure from Chinese rivals such as <a target="_blank" class="" href="https://www.businessinsider.com/ev-electric-vehicle-china-brands-byd-nio-wuling-zeekr-geely-2023-5">BYD, Nio, and Xiaomi</a>, which offer luxurious EVs vehicles with better <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-makers-battle-for-market-dominance-with-smart-features-2024-5">software experiences</a> — and all at far lower prices.<div type="image" title="Chinese customers assess the Xiaomi SU7 at a flagship store in Shanghai, China." height="2800" width="4200" msid="114777392" hostid="261" sizebytes="344146"></div>To make matters worse, some Chinese automakers are now eyeing expansion in Europe, even with <a target="_blank" class="" href="https://www.businessinsider.com/chinese-electric-vehicles-european-tariffs-retaliation-vw-bmw-mercedes-tesla-2024-10">the European Union planning tariffs on BYD and its rivals</a>.Wisbert said the brand strength of BMW and Mercedes in Europe gave them a crucial advantage over Chinese interlopers — but added that VW would likely face competition from Chinese brands that can build and sell EVs far more cheaply. "In the long run, it's a big threat, especially for Volkswagen."<h2 id="4b4f7370-2052-4695-8ad7-e34b879663db">Slow sales in Europe</h2>At the same time, Germany's automakers are also dealing with a slowdown in EV sales in Europe.Mercedes said last week that <a target="_blank" class="" href="https://www.businessinsider.com/mercedes-benz-sliding-ev-sales-and-weak-demand-in-china-2024-10">sales of battery-powered cars</a> fell 31% in the third quarter compared with the same period last year, while deliveries of Volkswagen Group EVs in Europe were <a target="_blank" class="" href="https://uploads.vw-mms.de/system/production/files/cws/040/668/file/151d368085a7d93bdc93358b5dc3bc7714ea72d0/20241011_Deliveries_Tables_icl_BEV.pdf?1728635690">down 12% in Q3</a>.Demand for electric vehicles has slowed in Europe amid a lack of affordable options and the end of subsidy schemes in some countries, including Germany, where new EV deliveries <a target="_blank" class="" href="https://www.businessinsider.com/ev-sales-europe-slumping-warning-sign-us-2024-9">plunged by 69% in August</a>."The European market has failed to return to health as quickly as hoped post-Covid," Matthias Schmidt, an independent auto analyst based in Germany, told BI in an email."That is causing an over-capacity and under-utilisation problem leading to the need for restructuring across European operations, alongside new market entrants such as Chinese carmakers and Tesla increasingly eating up market share."<div type="image" title="Union workers rally outside a Volkswagen plant" height="5464" width="8192" msid="114777385" hostid="261" sizebytes="1564854"></div>Wisbert said that despite Volkswagen and BMW starting to sell battery-electric vehicles more than a decade ago, German companies failed to make EVs their "focus" and are now losing out to rivals such as Tesla and BYD that can build and sell electric cars more cheaply."They missed the chance to get the cost for the battery under control. That's the problem because their competitors can sell cars at a really low price level because they have the battery cost under control," Wisbert said.She warned that attempting to save money by scaling back EV plans would render German carmakers even less competitive in the future. Volkswagen and Mercedes have both adjusted their EV strategies and pushed back targets in recent months as sales stagnate."Right now they're cutting their plans for future investment — and that's not the best way to stay competitive in the future," said Wisbert.Investors are also sounding the alarm, sending Mercedes-Benz shares down more than 11% this year, with BMW sliding 28%. VW, meanwhile, is down about a fifth this year, and close to half the stock price of October 2019. Analysts at UBS have a "sell" recommendation on the stock, and the potential cost and disruption that could be sparked by a "major restructuring."VW, Mercedes, and BMW did not respond to requests for comment from BI.

Volkswagen stumbles in China as Germany's auto giants struggle to compete in the EV race

<ul class="summary-list"><li>Car companies are cutting costs heading into the end of the year.</li><li>A price war in China poses a threat to profitability.</li></ul>It's been a busy few days for auto companies.Ford and Volkswagen each pulled back vehicle production plans this week. After the last shift on Friday, November 15, Ford will <a target="_blank" class="" href="https://www.businessinsider.com/ford-pauses-electric-f-150-lightning-production-cuts-manager-bonuses-2024-10">pause F-150 Lightning production</a> until next year, while VW said it is considering historic plant closures in Germany that would lay off hundreds of workers.Meanwhile, Tesla fell behind China's BYD in quarterly revenue for the first time, and GM CEO Mary Barra warned of an unsustainable price war in the Chinese EV market.Amid the flurry of news, two themes stand out: the China threat and <a target="_blank" class="" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5">EV slowdown</a> loom large for automakers.<h2 id="26021238-9d8a-4010-bec4-f6bfd9ac81e2">Another EV price war threatens profitability</h2>In China, the world's largest auto market, EV leaders <a target="_blank" class="" href="https://www.businessinsider.com/why-byd-is-beating-tesla-ev-rivals-china-2024-11">BYD</a> and Tesla are engaged in a bitter price war that initially weighed heavily on BYD's bottom line.But by August, BYD (which also sells hybrid cars) reported its best-ever passenger car sales, driving up revenue 24% in the third quarter to $28.24 billion, topping Tesla for the first time. It's the latest sign that after nearly two years of deflating the value of its cars, <a target="_blank" class="" href="https://www.businessinsider.com/tesla-sales-miss-ev-slowdown-new-wave-customers-2024-4">Tesla is finally starting to feel the pinch</a> of a slowdown in the EV market.The Chinese EV market is more competitive than ever, according the GM's Barra, who <a target="_blank" href="https://www.businessinsider.com/general-motors-gm-ceo-mary-barra-ev-china-not-sustainable-2024-10">questioned the sustainability</a> of a broader price war in the region driven by an uptick in Chinese EV startups selling inexpensive vehicles.Inexpensive Chinese EVs have long threatened the US EV market. They aren't just well-priced; many are also good-looking and well-equipped. Ford CEO Mark Ford said last week that he's been driving the <a target="_blank" class="" href="https://www.businessinsider.com/chinese-ev-xiaomi-su7-driven-by-fords-ceo-faster-model-2024-10">Chinese-made Xiaomi SU7</a> for six months and doesn't want to give it up.Some car companies already sell <a target="_blank" class="" href="https://www.businessinsider.com/cars-imported-from-china-us-ev-tariffs-buick-lincoln-volvo-2024-5">China-built EVs</a> in the US, but Biden Administration bans on Chinese vehicles keep competitors like BYD from entering the market. Europe is also slapping tariffs on Chinese EVs as these cars upend their retail market.<h2 id="8dfa0b70-314e-4d64-b16a-ce59212e9bed">Companies will have to build fewer cars for now</h2>As <a target="_blank" class="" href="https://www.businessinsider.com/germany-auto-giants-volkswagen-bmw-mercedes-struggle-sales-china-evs-2024-10">Volkswagen loses ground</a> to BYD in Europe, the automotive giant is considering massive production pull-backs, including closing three German factories for the first time in its history.In the US, Ford announced its own EV production pull-backs this week, stopping assembly of its electric F-150 Lightning pickup truck until next year in a bid to improve profitability for its money-losing EV segment.Both companies are coupling these production rationalizations with other cost-cutting measures. At Ford, managerial bonuses tied to quality and manufacturing costs will be slashed to 65% of last year's levels. VW has said it plans to lay off workers and may cut wages.Over-production isn't just <a target="_blank" class="" href="https://www.businessinsider.com/ev-pile-up-dealer-lots-deals-discounts-leasing-2024-8">a problem for EVs</a>, though. Overall vehicle inventory levels remained elevated at the end of October, driving up manufacturer-funded discounts, according to JD Power. Dealers ended October with about 2 million units in stock, a 4% increase from September and a 25% increase from the previous year.Some companies are more affected by inventory bloat than others. <a target="_blank" class="" href="https://www.businessinsider.com/stellantis-jeep-ceo-falling-sales-shrinking-profit-margins-dealers-strike-2024-10">Stellantis</a>, which is navigating the toughest year in its short history, is specifically focused on reducing inventory levels in the US, and reported some progress on that effort in the third quarter.

The China threat and the EV slowdown— 2 takeaways from a busy few weeks in auto news

Amid the ongoing geopolitical tension, the <keyword id="19904988" type="General" weightage="20" keywordseo="energy-sector" source="keywords">energy sector</keyword> will continue to face challenge while the <keyword id="20468174" type="General" weightage="20" keywordseo="consumer-goods" source="keywords">consumer goods</keyword>, automotive, healthcare is set to expand in 2025, highlighted a report 'Industry Outlook 2025' by <keyword id="20618515" type="General" weightage="100" keywordseo="Economist-Intelligence-Unit" source="keywords" meta.keywordsubtype="org" meta.entityname="Economist Intelligence Unit" meta.hostid="261" meta.entityid="Economist Intelligence Unit">Economist Intelligence Unit</keyword>. The report noted that the Fossil fuel markets will continue to face risks from geopolitical conflicts, particularly in the Middle East and Ukraine. However, investments in <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> will remain strong, especially in China, as the world pushes toward cleaner and more sustainable energy sources. The report said "Fossil-fuel markets will continue to face <keyword id="20064250" type="General" weightage="20" keywordseo="geopolitical-risks" source="keywords">geopolitical risks</keyword> amid conflicts in the Middle East and Ukraine, but investment into renewables will remain strong, particularly in China." It also added that the financial sector faces a mixed outlook with falling interest rates anticipated to narrow bank profit margins, potentially leading to smaller dividend payouts for shareholders. Yet, regulatory easing could provide relief, with the Basel III endgame likely seeing further delays, softening the impact on banking institutions amid a challenging economic landscape. For the consumer goods and retailing the report added that the Global retail volumes are forecast to grow by 2.2 per cent in 2025, thanks to easing inflation. However, stricter regulations on online retailing will target high-volume, low-price retailers, to ensure fair competition and consumer protection. It said "Global retail volumes will expand by 2.2 per cent, helped by disinflation, but regulations around online retailing will tighten further" As per report, the <keyword id="20359760" type="General" weightage="20" keywordseo="automotive-sector" source="keywords">automotive sector</keyword> is set for a record year, it said "After a difficult few years, annual new-vehicle sales will reach a record 97.2m units in 2025. This includes a 2 per cent rise in new car sales, a 4 per cent increase in commercial vehicle sales, and a significant 16 per cent growth in <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword>, reflecting the sector's recovery and the shift toward cleaner mobility. In technology the report added more countries will adopt satellite internet, although the primary users will be enterprise clients, including military and maritime sectors. Amazon's Project Kuiper will challenge the existing market dominance of Starlink and EutelSat OneWeb, offering more competition and potential growth in satellite connectivity. The resulting tensions will continue to affect investment into production and market entry, with companies taking advantage of government incentives to build out more flexible supply chains. <keyword id="23684177" type="General" weightage="20" keywordseo="investment-in-technology" source="keywords">Investment in technology</keyword>, particularly artificial intelligence (AI), will also be strong as projects gather pace. However, technology companies will face pressure from several directions as regulations tighten (particularly in Europe), investors become more impatient for profits and their energy usage comes under more scrutiny.

Consumer goods, auto and healthcare sector to expand but energy may face challenge in 2025: Report

<ul class="summary-list"><li>The percentage of customers canceling multiple streaming subscriptions has increased.</li><li><a target="_blank" href="https://www.businessinsider.com/disney-netflix-hulu-peacock-more-price-hikes-streaming-2023-8?r=US&amp;IR=T">Streaming companies have been raising prices</a>, cracking down on account sharing, and introducing ads.</li></ul>As content streaming companies continue to raise their prices and <a target="_blank" href="https://www.businessinsider.com/netflix-password-sharing-crackdown-has-been-a-huge-success-data-2023-8?r=US&amp;IR=T">crack down on account sharing</a>, a bigger percentage of customers have been canceling their subscriptions.The volume of people in the US nixing subscriptions to major streaming services like Apple TV+, Discovery+, Disney+, Hulu, Max, Netflix, Paramount+, Peacock, and Starz, rose to 6.3% in November 2023 from 5.1% a year earlier, according to data from subscription-analytics provider Antenna.And nearly one quarter — 24% — of US subscribers canceled at least three of those subscriptions over the past two years, as of November. That's up from 15% in November 2021.Netflix said in May 2023 it would start <a target="_blank" href="https://www.businessinsider.com/netflix-charging-8-to-add-another-user-to-your-account-2023-5?r=US&amp;IR=T">charging US subscribers an extra $8</a> to add additional users who live outside their household to their accounts, and <a target="_blank" href="https://www.businessinsider.com/netflix-subscription-prices-go-up-increase-ads-password-sharing-growth-2023-10?r=US&amp;IR=T">raised prices</a> for both its lowest tier ad-free plan and its premium plan just a few months ago. <a target="_blank" href="https://www.businessinsider.com/hbo-max-more-expensive-ad-free-price-increase-january-2023-1?r=US&amp;IR=T#:~:text=Starting%20Thursday%2C%20the%20ad%2Dfree,since%20it%20launched%20in%202020.">HBO raised its Max subscription prices</a> last January. Amazon Prime Video recently announced that it will be <a target="_blank" href="https://www.businessinsider.com/amazon-prime-video-will-cost-299-month-free-avoid-ads-2023-9?r=US&amp;IR=T">introducing ads</a>, which subscribers will have to pay an additional $2.99 a month to avoid. Apple raised the price of an Apple TV+ subscription by $3.00 in October. And <a target="_blank" href="https://www.businessinsider.com/streamer-apple-tv-hulu-netflix-disney-raise-subscription-prices-2023-10?r=US&amp;IR=T#:~:text=Hulu's%20ad%2Dfree%20tier%20went,increased%20from%20%2410.99%20to%20%2413.99.">Disney raised the prices for both Disney+ and Hulu</a> back in August.All those little increases add up. Many consumers, it seems, are saving where they can.This doesn't necessarily mean that those subscriptions stay canceled, though. Some users — who Antenna refers to as "serial churners" — repeatedly subscribe and cancel streaming accounts, rather than maintaining continuous subscriptions.

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