RECOVERY FORECAST FOR RUSSIAN MOTOR OILS MARKET
July 17, 2017 at 11:00 AM
Russian demand for motor oils is projected to recover in 2017 and beyond, according to Autostat, a Moscow-based consultancy tasked with analysing the country’s automotive sector.
Demand has stagnated in the last two years; on-road vehicles consumed a total of 435 million litres of motor oils in 2016, compared to 432 million litres the year before. 232 million litres were consumed by passenger cars, 53 million litres by light commercial vehicles, 135 million litres by heavy-duty trucks and 15 million litres by busses. Of the 435 million litres consumed last year, 45% were imported.
However, using a dedicated online survey system for motor oil consumption in different vehicle categories, Autostat has predicted positive growth in 2017 and 2018. For each year it expects up to 2.5% growth for demand of passenger car motor oils, up to 3.5% for oils used in light commercial vehicles and up to 1% growth for oils used in heavy-duty vehicles and buses.
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