JXTGs subsidiary in Thailand expects 25 percent higher lubricant sales volumes in the country for 2018 than initially targeted, thanks to a large increase in distribution outlets, a company spokesman told Lube Report.
The company targeted 2 million liters in lubricant sales for last year. However, for 2018, lubricant sales will be about 2.5 million liters, with the expansion of distribution outlets from 700 to 1,000, the company spokesman said.
JX Nippon Oil and Energy (Thailand) manufactures and distributes Eneos lubricants and also is a member of the JXTG Group, Japans largest lubricant supplier. JXTGs 2018 fiscal year ends on March 31.
Last October, Thailand's sales of passenger vehicles increased 18 percent, and light commercial vehicle sales jumped by 40 percent, compared to September the previous month. Thai light vehicle demand so far [in 2018] has been driven by the strong economy, as well as expansionary fiscal and monetary policy, such that we now expect 2018 to close with 1.01 million units sold, exceeding the 1 million-unit mark for the first time since 2013, U.S.-based business consultancy LMC Group said in its latest LMC Automotive report.
Buranin Rattanasombat, senior executive vice president for the lubricants business of Thailand's state-owned PTT Oil and Retail Business Co., forecasted recently that the countrys lubricant demand volume will grow by 4 to 5 percent this year, due to an increase in infrastructure construction projects.