Battery maker Exide Industries cut Indian production of most automobile products by 10%-15% in September, up from a 5% cut in August, to reduce inventory amid slowing demand for vehicles, a senior company executive has said.
“We have cut production on almost all auto products, barring two-wheeler batteries as demand for that segment is still robust,” the executive, who didn’t wish to be named, told Dow Jones Newswires.
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He said demand was expected to rebound from October as higher sales in the Indian festive season encourage automakers to increase production leading to similar increases by component manufacturers.
