Japan’s lubricant market remains soft as domestic vehicle sales continue to slow down, according to data released recently by the Ministry of Economy, Trade and Industry.
Japan’s domestic lubricant sales volumes fell 7.8% to 116,177 kiloliters (104,000 metric tons) in June, compared to the same month last year, while production slumped 16.3% year-over-year to 144,549 kL, according to data recently released by the ministry.
Registrations of new passenger cars, trucks and buses fell 32% in the second quarter to 836,050 units, compared to the previous year, according to data released by the Japan Automobile Manufacturers Association.
The country’s imports and exports of lubricants remained soft, compared to a year earlier. Imports fell 72% year-over-year to 7,424 kL, and exports fell 9% to 54,237 kL.