Exide Industries, one of the suppliers of lead-acid car batteries, has posted a growth of two percent in sales for the final quarter of 2008, in spite of the 30 percent drop in OE (original equipment) by the automakers.
The demand in the replacement segment is higher than in the OE segment. Exide had reduced its price by seven percent in the last quarter. As per the company officials, there won’t any further reduction.
The company’s supply to the telecommunication sector has increased. The mobile service provider's towers use these batteries. Exide’s sales in this sector grew by 17 percent. The battery manufacturer expects a growth in supply for automotives as the company predicts an increment of demand in the automotive market between January and March 2009.
