Soaring AC Sales Amidst Scorching Summer Surge

Sales of air conditioners have surged dramatically due to an intense summer, with leading manufacturers experiencing unprecedented growth. Companies like Voltas, LG, Daikin, Panasonic, and Blue Star are reporting record-breaking sales figures. However, the industry faces challenges such as inventory delays, installation issues, and potential price hikes due to rising copper costs.

PTI | New Delhi | Updated: 02-06-2024 14:54 IST | Created: 02-06-2024 14:54 IST
Soaring AC Sales Amidst Scorching Summer Surge
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An unrelenting summer has driven air-conditioner sales to unprecedented highs in May. Leading brands, including Voltas, LG, Daikin, Panasonic, and Blue Star, reported a surge in demand, leading to their best monthly sales figures to date.

Temperatures soaring above 45 degrees in several regions, including the national capital, have fueled this increase. Consumers are snapping up energy-efficient models, although manufacturers are grappling with delays in installation and stock replenishment. Voltas's MD & CEO, Pradeep Bakshi, highlighted that the company witnessed a remarkable 100% growth in residential AC sales, a record for May.

Other manufacturers echo similar sentiments, anticipating continued robust growth throughout the year. Despite the celebratory mood, the industry worries about inventory challenges and looming price hikes driven by surging copper costs. Early rains in June could further temper this soaring demand.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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