Prices of air conditioners and refrigerators have shot up in the new year as consumer durables makers pass on the impact of rising raw material costs and higher freight charges to customers, while home appliances like washing machines may witness 5-10 percent price hike later this month or by March.
Companies including Panasonic, LG, Haier have already reviewed prices upwards, while other makers such as Sony, Hitachi, Godrej Appliances may take a call by the end of this quarter.
According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), the industry makes hike prices from January to March in the range of 5-7 per cent.
With an unprecedented surge in the cost of commodities, global freight and raw materials, we have taken steps to increase prices of our products by 3 to 5 per cent in the refrigerator, washing machines, and air conditioner categories, Haier Appliances India President Satish N S told PTI.
Panasonic, which has already increased prices up to 8 per cent for ACs, is considering hikes further. It is also mulling a similar move for home appliances.
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