This festive season will be an expensive one for those looking to buy consumer durables with companies planning a fresh round of price hike of up to 5% to offset impact of weak rupee and additional cost to comply with changes in energy efficiency ratings norms.
While Voltas Ltd and Blue Star have already firmed up plans to increase prices of their air conditioners, Panasonic and Sony are keeping a close watch on rupee movements.
The companies are, however, planning to introduce products complying with the new star ratings from October to ensure smooth transition to new norms.
“We are keenly observing the rupee movement and will pass to consumers only if it falls below 62 against the dollar. The quantum of price hike will depend on the situation,” Panasonic India MD Manish Sharma said.