AC makers clock 2-fold jump in sales in May

A blistering summer has led to an almost two-fold jump in sales of air-conditioners in May even as leading manufacturers have been grappling with delays in installation and replenishing inventories of hot-selling energy-efficient models.

The mercury is hovering above 45 degrees at several places including the national capital, which has been under the grip of a severe heatwave for the past few days. At the same time, AC makers are navigating exceptional demand, recording their best-ever sales in a month so far. Leading brands like Voltas, LG, Daikin, Panasonic, and Blue Star witnessed robust sales in May and the industry expects an overall growth of 30 to 35 per cent in 2024 compared to their sales of last year. Voltas recorded a two-fold jump in the sales of residential AC in May and expects the positive momentum to continue in the remaining period of the April-June quarter, said its MD & CEO Pradeep Bakshi. "As we reflect on May 2024, Voltas has a remarkable surge in sales, showcasing a stupendous volume growth of 100 per cent compared to the same period last year. This milestone is particularly significant as May historically stands as one of the highest contributing month in the AC and cooling products industry," Bakshi said.

The Tata Group firm is optimistic to achieve 2 million units of Ac sales mark within the first six months of this calendar year. Similarly, LG Electronics India said it is witnessing an "exponential growth" in room AC business and has "surpassed the last 5 years' records with a multi-fold surge in demand".