The Chinese oil giant is shifting its focus to the growing demand for aftercare products
As China's auto industry continues to enjoy solid growth, competition for lubricants products is intensifying. Sinopec, Asia's largest refiner, is now responding by moving toward the nation's conscientious car owners.
Car care - big business? Image: Autobase |
Once largely neglected by car owners, vehicle maintenance is becoming increasingly popular amongst Chinese consumers. This is especially true of environmentally-conscious drivers in major cities where stifling pollution is a growing concern.
At a recent vehicle technology forum, Sinopec executive Yu Xiaoqiao announced that the company would capitalise on the growing trend by enhancing its presence in the car care space. Sinopec's Great Wall Lubricants brand is ubiquitous, and so the company will now focus more efforts on both its oil and water based product lines.
Since entering the vehicle maintenance market in 2005, two of the company products have received special acclaim, namely its diesel exhaust cleaning fluid and its windscreen cleaner solution.
The company is currently planning a $17bn sell-off that wlll open up 30% of its marketing arm to investors.