Midea’s AC sales surge 35% in Europe amid heatwaves, offsetting slowdown in China

The blistering summer in Europe, which was marked by unbearable heatwaves, boosted air conditioner sales for Midea Group, as consumers across the continent looked for inexpensive and durable cooling options.

In a part of the world unaccustomed to installing ACs due to the temperate climate and high costs, Midea’s air conditioners were a hit in Germany for a second year in a row, according to Manuel Seethaler, head of public relations and strategy for Midea in Germany.

“Now more users recognise the value of Chinese brands, and the scepticism that was there 10 to 20 years ago is wearing off,” Seethaler said. Midea’s products offer value for money, he added.

In the first half of this year, Germany was Midea’s second-biggest European market after Italy, according to S&P Global Ratings. Sales in Europe for the world’s leading manufacturer of home appliances jumped 35 per cent year on year from January to June, according to the rating agency.

Last year, the Foshan-based company sold 160,000 AC units in Italy, its number one market in Europe, followed by 44,000 units in Germany, S&P said.

Midea’s appeal for European customers was its “price and innovation”, like its easy-to-install window AC units, according to Xie Manqi, an S&P analyst.