India's Home Appliance Makers Set to Hike Prices by Up to 8%
Major home appliance manufacturers in India are set to raise prices by up to 8% from October 1, citing rising input costs due to the ongoing war. The increase will affect air conditioners (ACs), LED TVs, washing machines, and refrigerators.
According to industry sources, Blue Star, Godrej Appliance, Haier, Daikin, and Super Plastronics (SPPL) have either confirmed or executed price adjustments ranging from 4-10%. LG and Bosch Home Comfort (Hitachi) have also raised AC prices by approximately 5%.
Blue Star's Managing Director B Thiagarajan attributed the price hike to a 15% increase in input costs, including copper, steel, and plastics. However, he noted that GST benefits will reduce the net impact on buyers to about 5%.
Haier India President NS Satish emphasized the critical role of copper in AC manufacturing, highlighting that its price has climbed from $8,000-9,000 per metric ton last year to $14,500. He announced a 5% increase on room air conditioners from October 1, alongside a 2-3% hike on LED TVs and washing machines.