Air Conditioner Sales Soar in May as Heatwave Intensifies in India

India: A scorching summer has led to a nearly two-fold increase in air conditioner sales in May, with top manufacturers contending with installation delays and inventory shortages of popular energy-efficient models. Temperatures have peaked above 45 degrees Celsius in several areas, including the national capital New Delhi, which has been enduring a severe heatwave.

Amid this intense demand, AC makers have recorded their best-ever monthly sales during the summer month of May. Leading brands like Voltas, LG, Daikin, Panasonic, and Blue Star have seen significant sales growth in May.

Voltas witnessed a two-fold increase in residential AC sales in May and expects the good momentum to continue through the remaining period of the April-June quarter. The Tata Group expects to sell 2 million AC units during the first half of this year.

Similarly, LG Electronics India stated that their room air conditioner business is experiencing "exponential growth" and has surpassed previous 5-year records with a multifold increase in demand.

Furthermore, Daikin's sales in the month of May were 60 to 70% higher than the previous year, with the company expecting 35 to 40% increase in the first quarter of FY25.

Similarly, Panasonic India has seen "exponential" growth in the AC segment this summer.

The industry expects overall growth of 30 to 35 percent in 2024 compared to last year's sales figures.

Source: Business Standard