Prices of Air Condition to increase, know the full details

If you are planning to buy an air conditioner this summer, then hurry, because AC prices are going to increase.

The companies are planning to increase the prices of residential air conditioners by 5 to 8 percent before the summer season starts.

Many AC manufacturing companies are betting on double digit growth this year. In such a situation, she is going to increase the prices.

Companies like AC Voltas, Daikin, LG, LG, Panasonic, Haier, Blue Star and Samsung are expecting double digit growth this summer.

Due to the pent-up demand, the fast growing heat and the work from home (WFH) continues by many companies, the demand for AC is expected to increase.

This season, many manufacturers have introduced health and hygiene facilities in their range of ACs, which claim to protect their customers from viruses amid the epidemic. They are also providing no-cost EMI, cashback and easy access to boost sales.

Daikin Air conditioner's is going to increase the prices by 3 to 5 percent this month as the prices of metal and compressor which are largely imported have gone up. Kanwal Jeet Jawa, MD & CEO of Daikin Airconditioning India said, "It will have some impact on sales but demand is fast and this year will be hot." We are hoping that there will be demand even after some price increases.

Manish Sharma, President and CEO of Panasonic India and South Asia said, Panasonic is also going to increase the prices of AC.

He said, we are watching the market trends and are planning to increase the prices of AC in the range of 6-8 per cent, while the refrigerator may increase by 3 to 4 per cent.

Let us know that at present the cost of polymers, copper, steel, packaging materials has increased and the cost of production has increased. Copper prices have reached record highs. Due to this, the cost of manufacturing of consumer goods like AC, fridge, cooler, fan has increased. In such a situation, their prices will bounce in the coming time.He said, we are watching the market trends and are planning to increase the prices of AC in the range of 6-8 per cent, while the refrigerator may increase by 3 to 4 per cent.

Lloyd’s CEO Shashi Arora explains that commodity prices have been steadily rising. There has been no change in this in the last three months. Due to the increase in the prices of raw materials, AC, fridges will become expensive. He said that there is a boom in the AC industry in the coming summer season.

Arora said that we expect to see double-digit high growth in AC during the summer season

Not only AC, fan prices are also likely to increase. At the local level, fan-making entrepreneurs have also said that prices will increase due to expensive copper.

This is going to put the burden of inflation on consumers once again. However, in spite of this the demand is not likely to decrease because last year, due to COVID-19, there was no sale at all. This time the demand is expected to increase tremendously.

Companies believe that such an increase in prices may have a negative impact on the growth of the next quarter, but they cannot afford this increase in input cost.