Exide Industries – a market leader in batteries for auto OEMs and after-market – said on Tuesday at the company’s annual general meeting that after a few consecutive of months of plunging sales in a post-Covid scenario, there were signs of green-shoots in passenger vehicle and two-wheeler segments, where the year-on-year de- growth was much lesser than the previous months.
“The automobile sector was not performing at desired levels for the last two years. A similar situation persisted in the initial months during the post-lockdown period. However, there are some signs of an improvement in demand, particularly low-cost car as well as two wheeler segments. There is some expectation of improved demand for the automobile sector going into the festive season,” said Gautam Chatterjee, managing director and chief executive officer at the meeting in response to shareholders.
