ULM, GermanyLiqui Moly G.m.-b.h. is targeting growth in the U.S. as it announced that sales of its motor oils and vehicle car care products continued to grow in 2015 in both the U.S. and Canada.
The German company said that from January to September its turnover in the U.S. and Canada increased by 24 percent in comparison with the same period in 2014. Liqui Moly reported about $450 million in global sales for 2014.
We are continuing the trend of two-digit growth started last year, said Manfred Fischer, who is responsible for both markets at Liqui Moly.
We have the internal strength required for growthin spite of hard competition, Mr. Fischer said.
The company is boosting its U.S. sales staff and planning to add more points of distribution for its products. It also is offering auto service shops Liqui Moly signage as a form of advertising and to help consumers find the brand at local shops.
The company is hiring staff to train service techs on the use of its products.
In the U.S., sales increased by 15 percent within the first nine months of 2015 while in Canada the rate was 52 percent. The company did not disclose actual figures.
The surge in Canada was the result of a greater number of European import vehicles driven there in comparison with the U.S. market, said the company, which provides oils and additives for European vehicle models.
The company said European vehicles require special motor oil with performance ratings going far beyond those in the API standard. Liqui Moly said it offers various oils officially approved by European vehicle manufacturers.
In addition to European imports, Liqui Moly is increasing its focus on Asian imports and domestic cars. Its products are sold in Germany and in 110 other countries.
The company, founded in 1957, derived its name from liquid molybdenum disulphide, for which it held a patent to develop an engine oil additive. The additive helped improve the lubricating ability of the oil, lengthened the life time of the engine and protected it when there was no oil left for lubrication, the company said.
The company, which operates two production plants in Germany, offers more than 4,000 automotive products, including engine and gear oils, additives and vehicle care products, workshop equipment and service products. The company sells primarily to wholesalers, specialist markets and workshops.