There is no liquidity crunch in the consumer finance segment as more banks and non-banking finance companies (NBFCs) have entered in the last one and a half year, said Nilesh Gupta, managing partner, Vijay Sales. “Bajaj definitely leads and HDFC has caught up very well,” added Gupta.
Voltas has been the leader in the AC business and Daikin, Blue Star, Hitachi and a lot of other brands have also done equally well, said Gupta in an interview with CNBC-TV18 on May 10. Daiken in the last 3-4 years has really captured the market, he added.
Prices of Voltas Beko products continue to be at the higher end and the products will take some more time to take-off, according to Gupta. He further said that we are seeing an uptick in refrigerator sales for brands like LG, Samsung and Whirpool.
When asked about discounts on products, he said, “Discounts are on plate for everybody and pricing has been going up steadily because of change in the energy rating, but the silver lining is that our majority of the sales happen on the EMI front, so the consumer is not so much bothered about the price points today compared to 5-7 years back.―CNBC TV18