The scorching summer heat has caused a massive surge in air-conditioner (AC) sales, nearly doubling in May. Leading brands like Voltas, LG, Daikin, Panasonic, and Blue Star saw their best sales month ever, with temperatures soaring above 45 degrees Celsius in several areas, including the national capital. The AC industry expects a growth of 30-35% in 2024 compared to last year.
Voltas reported a 100% increase in residential AC sales in May, with plans to sell 2 million units in the first half of the year. LG Electronics India also saw record-breaking sales, especially in North India, and anticipates similar growth in the eastern states. Blue Star noted a 70% rise in sales, with unexpected continuous demand despite predictions of a slowdown.
Daikin India’s sales jumped 60-70% compared to last year, and Panasonic India saw a 52% increase, particularly in energy-efficient 5-star inverter ACs. However, industry leaders warn of potential price hikes due to rising copper costs and a possible slowdown if early rains arrive in June.
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