BANGKOK, NNA - Japan's Idemitsu Kosan Co. is aiming to boost its revenue in Thailand by stepping up sales of high-quality automotive lubricants.
Chakris Wahawisan, president of Apollo (Thailand) Co., Idemitsu Kosan's local distributor, said the firm is projecting 5.8 billion baht ($167 million) in revenue on sales of 72 million liters this year, up from 66.3 million liters last year.
Major oil distributor Idemitsu's Thai arm is budgeting 300 million baht for marketing to focus on automotive lubricants. Specifically, it will expand its current distribution channel of 1,000 shops nationwide to more car care centers this year.
Earlier this year, it launched three new high-quality automotive lubricants for motorcycles, gasoline and diesel cars in an effort to increase revenue from the retail sector.
Total lubricant consumption in the Southeast Asian country is projected to reach 720 million liters worth 85 billion baht this year, compared with 690 million liters worth 81.5 billion baht last year, according to Chakris.
Growing demand stems from local tax cuts, logistics development and infrastructure investment, along with the brisk U.S. economy and growing economic clout of the Association of Southeast Asian Nations of which Thailand is a founding member. (NNA/Kyodo)