Auto industry stakeholders have kept their eyes intently on China over the past several years, and for good reason. China continues to undergo a period of steady growth in commercial vehicle population. From 2010 to 2014, the number of medium and heavy duty vehicle trucks in use in China increased by almost 50% to around 23 million trucks. Continued growth will result in an estimated 35 million trucks being in operation across China by 2020.
Latin America is an increasingly important market for heavy duty diesel engine oil marketers–and Brazil, the region’s most powerful economy, is continuing its drive toward higher performing lubricants. A combination of factors affecting the Brazilian heavy duty diesel market is driving the shift. In 2014, the National Agency of Petroleum (ANP) published a resolution that established a new minimum performance standard for heavy duty engine oils manufactured, imported and/or sold in Brazil.