NEW DELHI: Consumer durable makers would possibly go for a value hike ahead of the festive season gross sales to partially pass on the higher import bills because of fall in rupee.
Sony, Panasonic and Godrej said they're carefully looking at the foreign money motion because the rupee as of late crossed a ancient low of 70.32 against the United States buck.
"The rupee crossing 70 per dollar is putting a lot of pressure on us in terms of input costs. We are evaluating the impact on us, and if it remains like this, we would have to go for a price hike in the near future," Godrej Appliances Business Head and Executive VP Kamal Nandi instructed PTI.
He further said there generally is a pre-festive value rise if rupee is 70 plus and a call on this can be taken by August-end.
Echoing an identical perspectives, President and CEO Panasonic India and South Asia Manish Sharma said the sinking rupee is putting pressure on the general input prices resulting in a constant rise in commodity costs.
"If this trend soon hits a tipping point, it will have an impact on price within the white goods industry, especially now when we have begun our descent into the festive season," said Sharma.
Last month, several firms had introduced to hike costs of TV panels of 32-inch and above to offset the hostile affect of the falling rupee.
Like others, Sony could also be carefully looking at the placement and will take any decision at a suitable time.
"We are closely watching the situation at the moment and are yet to take a decision on price correction for our televisions," said Sony India Head of Sales Satish Padmanabhan.
Haier too laid out an identical plans.
"We may have to look at a price increase across a few categories. But, considering the current critical weather conditions in Kerala and other key parts of the country, we will wait for the situation to get better before making any announcements," said Haier India president Eric Braganza.
Sony, Panasonic and Godrej said they're carefully looking at the foreign money motion because the rupee as of late crossed a ancient low of 70.32 against the United States buck.
"The rupee crossing 70 per dollar is putting a lot of pressure on us in terms of input costs. We are evaluating the impact on us, and if it remains like this, we would have to go for a price hike in the near future," Godrej Appliances Business Head and Executive VP Kamal Nandi instructed PTI.
He further said there generally is a pre-festive value rise if rupee is 70 plus and a call on this can be taken by August-end.
Echoing an identical perspectives, President and CEO Panasonic India and South Asia Manish Sharma said the sinking rupee is putting pressure on the general input prices resulting in a constant rise in commodity costs.
"If this trend soon hits a tipping point, it will have an impact on price within the white goods industry, especially now when we have begun our descent into the festive season," said Sharma.
Last month, several firms had introduced to hike costs of TV panels of 32-inch and above to offset the hostile affect of the falling rupee.
Like others, Sony could also be carefully looking at the placement and will take any decision at a suitable time.
"We are closely watching the situation at the moment and are yet to take a decision on price correction for our televisions," said Sony India Head of Sales Satish Padmanabhan.
Haier too laid out an identical plans.
"We may have to look at a price increase across a few categories. But, considering the current critical weather conditions in Kerala and other key parts of the country, we will wait for the situation to get better before making any announcements," said Haier India president Eric Braganza.
Consumer durable makers mull pre-festive price hike amid rupee fall
![Consumer durable makers mull pre-festive price hike amid rupee fall]()
Reviewed by Kailash
on
August 16, 2018
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