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Lockdown spoils usual summer party for air conditioner makers

China virus covid-19 stars
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Covid-19 has spoilt chances of a summer bonanza for domestic air conditioner (AC) manufacturers. The firms had to first grapple with the supply chain disruption in China and costlier imported parts due to a depreciating rupee.

Now, the bigger blow of the lockdown has dimmed hopes of even a sales gain in the June quarter. Typically, the first quarter is the peak season for the industry and accounts for about half of AC manufacturers’ annual sales.

Even if the lockdown is lifted on 3 May, consumers are likely to take time to return to sales outlets. “Our analysis suggests secondary sales (retail) may be down 30% year-on-year (y-o-y) in Q1FY21 and another 10% y-o-y in the September quarter (Q2FY21)," said a report by Motilal Oswal Financial

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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