To beat the heat, Filipinos buy more than a 1,000 aircons a day on credit, says finance firm

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Finance Industry ニュース

Excessive Heat,Business,Industries

Filipinos made heavy use of Home Credit's 0% interest installments to buy a record number of air conditioners this summer

This is AI generated summarization, which may have errors. For context, always refer to the full article.Filipinos made heavy use of Home Credit's 0% interest installments to buy a record number of air conditioners this summer

“Every day, more than 1,000 aircons are being sold through Home Credit, giving hopefully some relief from the extreme, extreme heat that we’re experience this year,” Home Credit chief sales officer Puneet Suneja said in a media interview on Monday, May 13.With temperatures going dangerously high, Filipinos needed a way to cool down, and Home Credit jumped at the opportunity to provide it.

This summer, people aren’t just buying more air conditioner, they’re using them more too. Manila Electric Company reported“An approximate 2.5 GWh of consumption per day is noted for every degree rise in temperature,” Meralco said, as hotels, schools, and restaurants turn to cooling equipment “to ameliorate increasingly warmer ambient temperatures.”Besides helping Filipinos buy air conditioners, Home Credit may also soon expand into offering consumer financing for costly solar panels.

 

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