Air conditioner sales doubled in May amid scorching heat

New Delhi. Air conditioner (AC) sales have almost doubled in May amid scorching heat. Major AC manufacturers are facing the problem of shortage of stock of low energy consumption models. Apart from this, manufacturers are also facing difficulties in installing ACs due to increasing demand. The mercury is above 45 degrees in many places including the national capital. At the same time, AC manufacturers are dealing with extraordinary demand, and this month has recorded the best sales ever. Major brands like Voltas, LG, Daikin, Panasonic and Blue Star witnessed strong sales in May and the industry expects an overall growth of 30 to 35 percent in their sales in 2024 compared to last year.

Voltas Managing Director (MD) and Chief Executive Officer (CEO) Pradeep Bakshi said the company’s domestic AC sales doubled in May. The positive momentum is expected to continue for the rest of the April-June quarter. He told PTI, “Talking about May, Voltas’ sales have increased significantly. This is a spectacular growth of 100 percent compared to the same period last year. This milestone is particularly important because May has historically been one of the highest contributing months to the AC and cooling products industry.”

The Tata Group company expects to achieve 20 lakh units of AC sales within the first six months of this calendar year. Similarly, LG Electronics India said it is witnessing “rapid growth” in the domestic AC business and “with multifold increase in demand, it has surpassed the last five years’ record.” Blue Star Managing Director B Thyagarajan said the domestic AC industry had grown by 40 per cent in March this year. There was a possibility that there would be some volatility in the market due to the general elections in May, but that did not happen.

According to Thyagarajan, this is a ‘golden period’ for the industry, with growth of over 35 per cent in 2024. “The challenge in the market is how many units you can produce and supply. That is the absolute challenge,” said Kanwaljeet Java, chairman and managing director, Daikin India. According to Java, Daikin’s sales in May were 60 to 70 per cent higher than last year and the company expects a growth of 35 to 40 per cent in the first quarter of the current financial year (2024-25). He said sales were slow in May last year due to rains in some parts of the country. Similarly, Panasonic India has also recorded good growth in the AC category this summer.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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