›Sales of AC, other cooling products again hit by pandemic in peak season; companies now pin hopes on extended summer
Sales of AC, other cooling products again hit by pandemic in peak season; companies now pin hopes on extended summer
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Sales of AC, other cooling products again hit by pandemic in peak season; companies now pin hopes on extended summerPTI
Last Updated: May 16, 2021, 01:45 PM IST
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Synopsis
Leading players in the segment including Voltas, Daikin, Blue Star, Panasonic and Haier reported almost 75 per cent dip in April sales this year when compared with the same month of 2019 performance. Moreover, May 2021 has been a complete washout so far for them.
: Sunday, May 16, 2021, 8:06 PM IST
Sales of AC, other cooling products again hit by pandemic in peak season; cos now pin hopes on extended summer
Leading players in the segment including Voltas, Daikin, Blue Star, Panasonic and Haier reported almost 75 per cent dip in April sales this year when compared with the same month of 2019 performance. Moreover, May 2021 has been a complete washout so far for them.
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For the second consecutive year, sales of air conditioners (ACs) and refrigerators have been hit during the peak season of April and May due to the localised lockdowns and restrictions on account of surging Covid cases in the country.
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Consumer sentiment is also subdued. If the current conditions prevail, there could be shortages of cooling products in the coming weeks. We are hoping demand revives in May
Consumer sentiment is also subdued. If the current conditions prevail, there could be shortages of cooling products in the coming weeks. We are hoping demand revives in May×
Mounting Covid-19 cases, lack of enough manpower and ban on use of oxygen for industrial use besides local restrictions in certain States, has adversely impacted production of several consumer durable companies, especially in the cooling products segments.
A combination of localised lockdowns, closure of non-essential retail stores, and challenges emerging from low industrial oxygen supplies has forced home appliance makers to temporarily halt manufacturing activity.
Japanese major Panasonic will shut its Jhajjar plant in Haryana for a week beginning Monday, as demand suffers on account of containment measures.
“There was a positive momentum in the market between January and March, as coronavirus cases were low and people were stepping out to buy. As the cases picked up in April, localised lockdowns have grown, hurting demand. At the same time, the safety of our people matters. We have, therefore, taken the decision to temporarily halt operations at our Jhajjar plant. This is for a week,” Manish Sharma, president and chief executive officer of Panasonic India and South Asia, said.
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