Media Releases

Automotive battery price increase due to hike in lead prices

PETALING JAYA, 9 August 2007 : The Battery Manufacturers Association of Malaysia (BMAM) announced an increase in the selling price of all automotive batteries by an average of 15% to 20% depending on the battery model with effect from today.

The decision was made following a unanimous agreement by its members as a result of price increases in lead - one of the major components of automotive batteries. According to figures publ;ished by London Metal Exchange (LME) - the world;s premier non-ferrous metals futures and options contracts market, the price of lead today has risen by a massive 591 per cent as compared to the lead price of US$461 per tonne in June 2003.

At the press conference today, Mr. Chow Siew Hon - President of the Battery Manufacturers Association of Malaysia added, 'the price of lead continues to increase and stands at more than US$3000 per tonne today. Compared to the price of lead in February 2006 at US$1275 per tonne and just two months ago in June 2007 at US$2424 per tonne, this drastic increase in automotive battery raw material has in fact affected battery production costs.'