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19 cities where rent is falling fast, even as price hikes continue to frustrate consumers

Reliance Jio and Airtel price hike – new plans and how you can save money

Electric scooters get a price hike of up to ₹16,000 as FAME subsidy ends

<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

<ul class="summary-list"><li>Fast-food prices have risen so much they've hit a "tipping point," one analyst said.</li><li>Restaurants are having to reset their menus with value deals, Chris O'Cull of Stifel said.</li></ul>Prices at fast-food chains have been skyrocketing since the start of the pandemic — and one analyst thinks they may now have reached a "tipping point."<a target="_blank" class="" href="https://www.businessinsider.com/mcdonalds-starbucks-kfc-us-sales-diners-cut-back-prices-expensive-2024-8">McDonald's, Starbucks, and KFC</a> all recently reported decreases in US same-store sales as rising prices kept some customers away.In response, fast-food chains have been turning to combo deals and value menus. <a target="_blank" rel="" class="" href="https://www.businessinsider.com/why-mcdonalds-5-dollar-meal-deal-pulling-in-customers-inflation-2024-7">McDonald's</a>, <a target="_blank" rel="" class="" href="https://www.businessinsider.com/burger-king-launches-5-dollar-value-meal-before-mcdonalds-months-2024-5">Burger King</a>, <a target="_blank" class="" href="https://www.facebook.com/jackinthebox/videos/485945577257950/">Jack in the Box</a>, and <a target="_blank" rel=" nofollow" class="" href="https://www.kfc.com/newsroom/kfc-introduces-new-taste-of-kfc-deals">KFC</a> have all launched $5 combo deals — and even <a target="_blank" class="" href="https://www.businessinsider.com/starbucks-bundling-breakfast-combo-deals-sandwich-croissant-tea-coffee-meal-2024-6">Starbucks</a> experimented with bundling."I think pricing has probably hit a tipping point now where a lot of these restaurants are having to reset their menus with these value menus and value deals," Stifel analyst Chris O'Cull told Business Insider.<h2 id="68de75e7-4102-4a02-b732-66162a1e6127">Too expensive</h2>Before the pandemic, limited-service restaurants in the US generally put their prices up by less than 3.5% a year, <a target="_blank" class="" href="https://data.bls.gov/dataViewer/view/timeseries/CUUR0000SEFV02">consumer price index</a> data shows. All that changed in 2020. The cost of labor and commodities soared — and chains raised their prices in response. In the year to April 2023, prices at limited-service restaurants went up by 8.2%.Those rises are cooling, but remain far above pre-pandemic levels — and are coming back to bite fast-food chains."Consumers are kind of pushing back on spending and are deciding to find cheaper ways to eat," O'Cull said. Low-income diners in particular are <a target="_blank" class="" href="https://www.businessinsider.com/fast-food-expensive-americans-cook-at-home-visit-independent-restaurants-2024-5">buying more groceries</a>, turning to diners or casual-dining chains to get a sit-down experience for just a few dollars more — or they're still getting their fast-food burgers and fries, but are being more prudent about what they buy."Quick service posted its fifth straight quarter of decelerating comp trends, marking a change from prior times of consumer choppiness during which quick service tended to be the most resilient space," William Blair analyst Sharon Zackfia said in a note on Thursday.<div type="image" title="McDonald's fast food restaurant in Manhattan, New York, United States of America, on July 6th, 2024." height="2001" width="3000" msid="112630663" hostid="261" sizebytes="600222"></div>During a slowdown, lower-end consumers cut down on fast food, but this is typically more than offset by the influx of middle- and higher-income consumers, Brian Yarbrough, an Edward Jones analyst, told BI.But in this instance, fast-food chains have raised prices "so much" that it's shrunk the gap between fast-food and fast-casual prices, meaning more low-earners are trading out of the sector than high-earners are trading in, he said.<h2 id="cdef5103-6ac0-4864-b952-122ac26b7600">Traffic boost </h2>As customers turn their noses up at high prices, restaurants have resorted to value meals and combo bundles to draw in new diners. Andy Barish, an analyst at Jefferies, said this represented a return to a pre-pandemic promotional approach.Executives at McDonald's and Burger King have said their $5 deals have proved popular, especially among lower-income consumers.But restaurants have to ensure the deals drive enough traffic to offset the lower prices, Yarbrough said.Bosses also hope that once value menus get customers through the door, they'll end up bulking up their orders with extra items, too. Both McDonald's and Burger King said the average order including their combo meals came to more than $10. Jack in the Box said that its Munchies Under $4 deal didn't drive as much traffic as expected, but did lead to higher average order sizes.O'Cull of Stifel said he thought the value deals had been a "positive" for both fast-food chains and their franchisees: "For the time being, I think they'll probably stick with this."

Fast-food price hikes reach 'tipping point' as chains try to reset their menus with value deals and combos

Mobile phone users might have to spend notably more for their recharge packs after the general election, as reports indicate that telecom firms are gearing up for a fourth round of <keyword id="891186" type="General" weightage="20" keywordseo="tariff-hikes" source="Orion">tariff hikes</keyword> in recent times. According to a report by brokerage Axis Capital, a meaningful hike of approximately 25% by operators is anticipated soon. This surge is attributed to a stable competitive environment, the necessity to bolster profitability post heavy <keyword id="21245910" type="General" weightage="20" keywordseo="5G-investments" source="keywords">5G investments</keyword>, and ongoing government support. Despite the apparent magnitude of the increase, the report suggests it should be manageable for both urban and rural users. Urban households may witness a rise in telecom expenditure from 3.2% to 3.6% of total expenditure, while for rural subscribers, spending could escalate from 5.2% to 5.9%. Analysts predict that the consumers are likely to remain loyal and pay up, especially if they continue to enjoy high-speed connectivity — a vital need of these modern times. For <keyword id="20055601" type="General" weightage="20" keywordseo="telecom-operators" source="keywords">telecom operators</keyword>, the projected roughly 25% hike in headline rates is expected to correspond to a 16% growth in the average revenue per user (ARPU), as estimated by Axis Capital. While <keyword id="2003276" type="General" weightage="20" keywordseo="jio" source="Orion">Jio</keyword> reported an ARPU of Rs 181.7 for the quarter ending March, Bharti Airtel and <keyword id="19899016" type="General" weightage="20" keywordseo="vodafone-idea" source="keywords">Vodafone Idea</keyword> (Vi) are yet to disclose their March quarter numbers. However, their figures stood at Rs 208 and Rs 145 respectively for the October-December 2023 period. Peeyush Vaish, TMT industry leader at Deloitte, South Asia, anticipates a 10-15% increase in ARPUs, adding approximately Rs 100 per subscriber by the end of this calendar year. This hike is expected to be driven by price increases for 4G/5G bundled packs and the phasing out of low-value packs. Analysts foresee Bharti Airtel and Jio emerging as the primary beneficiaries of the <keyword id="21656632" type="General" weightage="20" keywordseo="wireless-pack-price-hike" source="keywords">wireless pack price hike</keyword>. While Vi is also expected to boost its ARPU by fortifying its network and minimising subscriber churn, the overall revenue impact may still be limited compared to its competitors. At the end of Q4 FY24, Jio’s total assets stood at Rs 4,87,405 crore, while its net profit from January to March climbed to Rs 5,337 crore from Rs 4,716 crore a year ago. On the other hand, Bharti Airtel’s consolidated Q4 revenue came in at Rs 37,599 crore, with its net profit of Rs 2,072 crore dropping 31.1% compared to a year ago. (With inputs from The Economic Times)

Mobile recharge packs to get more expensive as telcos gear up for another round of tariff hikes: Report

<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>McDonald's said some customers are more "wary" of its price increases. </li><li>Execs said that low-income diners are placing smaller orders and eating out less often.</li></ul><a target="_blank" href="https://www.businessinsider.com/mcdonalds-chicken-sandwiches-nuggets-business-as-big-as-beef-burgers-2024-2?r=US&amp;IR=T">McDonald's</a> keeps putting up menu prices — and it's putting off some diners."We certainly know consumers are more wary or weary of pricing," CFO Ian Borden told investors at the company's earnings call on Monday. CEO Chris Kempczinski said that diners had been placing smaller orders, especially low-income customers.McDonald's had said at its earnings call in October that its price increases largely hadn't put customers off.Diners have taken to social media to complain about the <a target="_blank" href="https://www.businessinsider.com/fast-food-isnt-cheap-anymore-2023-11">price of fast food</a>, which they say no longer delivers the same value it used to.McDonald's put menu prices up by around 10% in the US in 2023, Borden said. It raised prices by a similar amount in 2022, too.But as inflation cools, customers should expect less dramatic price hikes this year, Borden said, adding that franchisees set their own prices."Where you see the pressure with the US consumer is that low-income consumer," Kempczinski said. "Call it $45,000 and under. That consumer is pressured. From an industry standpoint, we actually saw that cohort decrease in the most recent quarter, particularly I think as eating at home has become more affordable."The cost of food to eat at home rose about 1.3% through 2023, according to the <a target="_blank" href="https://www.bls.gov/news.release/cpi.nr0.htm">Bureau of Labor Statistics' consumer price index</a>. But during that time, the cost of eating out at limited-service restaurants, which includes fast-food chains like McDonald's, grew 5.9%.Kempczinski said that he expects low-income diners to be more attracted to the lowest-priced items on the menu rather than promotions.The "absolute price point being probably more important for that consumer … to get them into the restaurants," he said, adding its temporary deals will resonate less with this consumer in 2024.Instead, the chain plans to concentrate on its D123 platform, which prices some items at $1, $2, and $3, he said.Reiterating <a target="_blank" href="https://www.businessinsider.com/mcdonalds-price-loses-lower-income-customers-inflation-pressure-2023-10">comments</a> he made to investors in October, Kempczinski said that McDonald's wasn't seeing "any real change in behavior" among middle and high-income diners, among whom he said the chain was continuing to gain share."The battleground is certainly with that low-income consumer," Kempczinski said.Have McDonald's rising prices put you off? Email this reporter at gdean@insider.com.

McDonald's says its price hikes are putting off some customers

<ul class="summary-list"><li>Egg prices are going up again as the US copes with a new outbreak of avian influenza. </li><li>The country's largest egg producer confirmed a new outbreak of the flu at a Kansas facility last week.</li></ul>The <a target="_blank" href="https://www.businessinsider.com/egg-prices-falling-to-normal-after-high-inflation-groceries-food-2023-6">cost of eggs</a> appears to be spiking for the second time in a year as the US faces a new bout of avian influenza.Egg prices at grocery stores rose 11.4% in November, with most of the increase coming at the end of the month, data provider Datasembly said on Friday. The data is based on on-the-shelf prices collected at stores, a spokesperson for Datasembly told Insider.Demand for eggs — and, consequently, their prices — typically increase during the holidays as consumers bake <a target="_blank" href="https://www.businessinsider.com/best-easy-cookie-recipe-chocolate-peppermint-professional-baker-2023">Christmas cookies</a> and other seasonal treats. But the latest increase seems driven by more than that.Cal-Maine Foods, the largest egg producer in the US, said Tuesday that it paused production at one of its Kansas facilities after chickens tested positive for avian flu.The facility includes about 684,000 egg-laying chickens, or 1.6% of the company's entire flock."Cal-Maine Foods is working to secure production from other facilities to minimize disruption to its customers," the company said <a target="_blank" href="https://www.calmainefoods.com/investors/">in a statement.</a>An outbreak of avian flu in the US sent egg prices higher toward the end of 2022. Last November, <a target="_blank" href="https://www.businessinsider.com/avian-flu-has-made-organic-eggs-cheaper-than-conventional-ones-2022-12">prices rose 49%</a> over the same month in 2021 — an exceptional increase, even as prices for many types of food were rising fast.By the end of the year, <a target="_blank" href="https://www.businessinsider.com/bird-flu-avian-influenza-outbreak-us-h5n1-wiping-out-everything-2023-4">egg prices had risen by 59%</a> nationally and more than doubled in some states. By this April, the outbreak had claimed the lives of 58 million birds, including many chickens in egg-laying flocks. At some stores, <a target="_blank" href="https://www.businessinsider.com/avian-flu-has-made-organic-eggs-cheaper-than-conventional-ones-2022-12">organic eggs sold for less than regular eggs</a>.Since then, the outbreak has subsided, and the prices that shoppers pay for eggs at the store has fallen for most of 2023, according to <a target="_blank" href="https://www.bls.gov/news.release/cpi.t02.htm">consumer price data</a> from the federal government. Those prices fell 22% in the year leading up to November.But wholesale prices, or what retailers and others pay egg producers, rose 71% between October and November, according to the <a target="_blank" href="https://www.bls.gov/news.release/ppi.htm">Producer Price Index.</a>So far, the outbreak isn't having the same effect on egg prices and availability as last year's bout of avian flu. But some buyers of wholesale eggs have increased their purchasing due to "doubts over the impact of continuing outbreaks," a U.S. Department of Agriculture <a target="_blank" href="https://www.ams.usda.gov/sites/default/files/media/Egg%20Markets%20Overview.pdf">report on the egg market</a> published Friday reads.A spike in egg prices would run counter to most other food prices. Broadly, <a target="_blank" href="https://www.businessinsider.com/inflation-consumer-price-index-economic-outlook-food-gas-prices-october-2023-11">inflation for other grocery items has slowed down</a> or reversed course over the last few months after roughly two years of historic increases.Executives at Kroger, the US's largest supermarket operator, said in November that they expect <a target="_blank" href="https://www.businessinsider.com/kroger-food-inflation-is-finally-slowing-down-2023-11">food inflation to increase at a slower rate</a> going into 2024.

Don't wait to buy your eggs &mdash; more price hikes could be coming

<ul><li>Starting from Tata Motors, Maruti Suzuki and Honda to Hero MotoCorp, several automakers have increased prices of their vehicles to comply with new regulatory norms required for a cleaner environment.</li><li>From April 1, vehicles will need to have an onboard diagnostic (OBD2) device to monitor the real-time driving emission levels to meet the stricter emission norms under phase two of the BSVI standards.</li></ul>The auto industry is gearing up for another price hike as the new fiscal year is around the corner. Typically, automakers hike prices of vehicles effective from April 1. This time, the <keyword id="172534" type="General" weightage="20" keywordseo="price-hikes" source="Orion">price hikes</keyword> are led by high inflation and regulatory requirements. Starting from Tata Motors, Maruti Suzuki and Honda to Hero MotoCorp, several automakers have increased prices of their vehicles to comply with new regulatory norms required for a cleaner environment. The Indian auto industry has geared up to meet the stricter emission norms under phase two of the BSVI standards. From April 1, vehicles will need to have an onboard diagnostic (OBD2) device to monitor the real-time driving emission levels to meet the stricter emission norms. On March 23, Maruti Suzuki India said it will increase prices of its model range in April to partially offset the impact of inflation and to meet the regulatory requirements. The automaker did not share the quantum of the price hike it intends to implement from next month. “The company continues to witness increased cost pressure driven by overall inflation and regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase. The company has planned this price increase in April 2023, which shall vary across models,” said Maruti Suzuki in an exchange filing. On March 21, Tata Motors also announced a price increase of up to 5% on its commercial vehicles starting from April 1, 2023. “The decision to increase prices is a result of the company's efforts to comply with the more stringent BSVI phase II emission norms,” said Tata Motors in an exchange filing. “As Tata Motors transitions its entire vehicle portfolio to meet these standards, customers and fleet owners can expect a range of cleaner, greener, and technologically superior offerings that deliver higher benefits and lower total cost of ownership,” added Tata Motors. At the same time, <keyword id="1381889" type="General" weightage="20" keywordseo="honda-cars-india" source="Orion">Honda Cars India</keyword> also increased the price of its entry level compact sedan, the Amaze, by up to ₹12,000 effective April 1. Joining the trend, two-wheeler maker Hero MotoCorp also made an upward revision in the ex-showroom prices of its select motorcycles and scooters by up to 2%. “The price revision has been necessitated mainly due to cost increases on account of OBD 2 transition,” said the automaker. The scooter maker also highlighted that the rural markets have been witnessing an upswing in demand, “thanks to the government schemes in the social sector and healthy agricultural outputs.'' Further, the company expects the growth momentum to lead into the upcoming festive season towards the latter half of the fiscal year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/shinier-zomato-gold-better-commissions-makes-analysts-bullish-in-the-long-term/articleshow/98938279.cms">Shinier Zomato Gold, better commissions makes analysts bullish in the long term</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/meet-rekha-rakesh-jhunjhunwala-the-top-indian-entrant-in-2023-m3m-hurun-global-rich-list/slidelist/98916777.cms">Meet Rekha Rakesh Jhunjhunwala, the top Indian entrant in 2023 M3M Hurun Global Rich List</a>

Time to buy your new hot wheels? Automakers set to increase prices of vehicles to meet stricter emission norms

<ul><li><keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> has announced a price hike for its cars, effective from today.</li><li>The company’s cars will now cost 1.1% more across models.</li><li>The company had earlier cited cost pressure due to inflation and regulatory requirements as the reason for the price hike. </li><li>Maruti <keyword id="6911" type="General" weightage="100" keywordseo="suzuki" source="Orion">Suzuki</keyword> is not the only automaker to raise prices. Car makers <a href="https://www.businessinsider.in/business/auto/news/honda-to-hike-vehicle-prices-by-up-to-30000-from-jan/articleshow/96271533.cms">Honda</a>, <a href="https://auto.hindustantimes.com/auto/cars/hyundai-india-announces-price-hike-across-complete-range-from-january-2023-41671097897719.html">Hyundai</a> and Tata Motors also plan to hike prices in January.</li></ul>India’s largest automaker Maruti Suzuki announced a price increase of 1.1% across models effective Monday. This is in line with the automaker’s <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-announces-price-hike-from-january-2023/articleshow/95941950.cms">statement</a> last December that its cars would get costlier from January 2023 due to inflation and regulatory requirements. In a regulatory filing with the exchanges on Monday, Maruti Suzuki said that the price increase is calculated using ex-showroom prices of Delhi. Maruti Suzuki, in its earlier filing in December 2022, had said it was forced to pass on the increased cost pressures it was facing to the customers. “The Company continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase,” said Maruti Suzuki. <cmsannotation type="cmsannotation" annotationid="Other automakers also announce price hikes" comment="subhead" text="Other automakers also announce price hikes">Other automakers also announce price hikes</cmsannotation> Maruti Suzuki is not the only automaker that has raised its prices in the past few months. Japanese car maker <a href="https://www.businessinsider.in/business/auto/news/honda-to-hike-vehicle-prices-by-up-to-30000-from-jan/articleshow/96271533.cms">Honda</a> has said it is planning to increase prices of its entire model range by up to ₹30,000 from January 23 to partially offset the impact of rising input costs and prepare products in compliance with upcoming stricter emission norms. <a href="https://auto.hindustantimes.com/auto/cars/hyundai-india-announces-price-hike-across-complete-range-from-january-2023-41671097897719.html">Hyundai</a> too plans to hike prices in January. Companies such as <a href="https://www.businessinsider.in/business/auto/news/tata-motors-to-hike-prices-of-passenger-vehicles-from-november-7/articleshow/95319994.cms">Tata Motors</a>, <a href="https://www.cardekho.com/india-car-news/skoda-kushaq-and-slavia-receive-another-price-hike-in-2022-29917.htm">Skoda</a> and Volvo have also effected price hikes in the last three months. While Skoda raised them by up to ₹60,000, <a href="https://www.businessinsider.in/business/auto/news/tata-motors-mulling-price-hike-for-passenger-vehicles-from-next-month/articleshow/96003489.cms">Tata Motors</a> increased prices by up to 0.9% across models. In November 2022, premium car maker Volvo hiked the price of the XC40 Recharge, XC60, and XC90 SUVs in India by up to 1.8%, citing increase in input costs due to disruptions in the global supply chain. A recent <a href="https://www.businessinsider.in/business/auto/news/tata-motors-mulling-price-hike-for-passenger-vehicles-from-next-month/articleshow/96003489.cms">report</a> revealed that Tata Motors is planning another price hike in January 2023. Shailesh Chandra, managing director, passenger and electric vehicles at Tata Motors, in an interaction with PTI said that the company was considering a price increase to offset the increasing costs due to regulatory changes around emission norms and increasing battery prices. <cmsannotation type="cmsannotation" annotationid="Maruti Suzuki’s two price hikes in 2022" comment="subhead" text="Maruti Suzuki’s two price hikes in 2022">Maruti Suzuki’s two price hikes in 2022</cmsannotation> While this is the first price hike from the company in 2023, the automaker had announced two price hikes in 2022. The first price hike was announced in <a href="https://www.autocarindia.com/car-news/maruti-suzuki-car-suv-prices-hiked-by-up-to-rs-30000-423270">January 2022</a> and the second in <a href="https://www.carwale.com/news/maruti-suzuki-to-levy-price-hike-from-april-2022/">April 2022</a>. During the last hike in April 2022, the automaker increased the prices of its popular cars, such as its hatchback Swift, Alto, Baleno, Ertiga and more by up to ₹22,000. In January 2022, the prices of its cars were hiked in the range of ₹21,000-30,000. Earlier in January, Maruti Suzuki had reported a decline in sales for December 2022. The company sold 1.12 lakh cars in December 2022, down from 1.23 lakh in December 2021. The automaker took the biggest hit in the mini, compact and mid-size segments as the sales in these segments fell to 68,421 units in December 2022, from 86,869 units in December 2021. These segments include cars like the Swift and the Baleno. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-has-unveiled-the-five-door-jimny-and-the-fronx-crossover-at-the-auto-expo-2023/slidelist/96933646.cms">Auto Expo 2023: Maruti Suzuki unveils Jimny and Fronx – bookings now open</a> <a href="https://www.businessinsider.in/business/auto/news/auto-expo-2023-upcoming-electric-cars-and-bikes-in-india-in-2023/slidelist/96929819.cms">Auto Expo 2023: Upcoming electric cars and bikes in India in 2023</a> <a href="https://www.businessinsider.in/business/auto/news/kia-showcases-concept-ev9-electric-car-with-solar-panels-carnival-ka4-mpv/slidelist/96908322.cms">Kia showcases Concept EV9 electric car with solar panels, Carnival KA4 MPV</a>

You Searched For "Price hike" and got 12 results

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