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(Hyderabad territory Manager) (Lubes)
Mr. B.Raghunath Rao
(Asst Manager - Mktg)(Lubes)
Project Title How to retain atleast 60% of market share to Mak lubricants sales in authorized service stations in Hyderabad Market. Submitted by
P. Sandeep Kumar. (09031EIB42) ( MBA in International Business)
School of Management studies JNTU Kukatpally, a g e 1 | P Hyderabad
How to retain at least 60% of the market share to MAK Lubricants sales in the authorized service stations in Hyderabad Market
PROJECT REPORT SUBMITTED FOR THE PARTIAL FULLFILMENT OF THE REQUIREMENTS OF THE COURSE
BY P.SANDEEP KUMAR ROLL NO.09031EIB42
UNDER THE INSPIRING GUIDENCE OF
M.SUDHAKAR TERRITORY MANGER (Lubes) & B.RAGHUNATHA RAO ASST MANAGER- MARKETING (Lubes) Bharat petroleum corporation limited, Hyderabad
MASTER OF BUSINESS ADMINISTRATION (INTERNATIONAL BUSINESS) SCHOOL OF MANAGEMENT STUDIES JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY, HYDERABAD. June 2010
I here by declare that this project report with the title “ How to retain at least 60% of market share to MAK Lubricants in authorized service stations in Hyderabad market” is the result of one month summer internship done by at Bharat Petroleum Corporation Limited under the guidance of Mr. M.Sudhakar Territory Manager (Lubes) and Mr. B.Raghunatha Rao, Asst Marketing Manager of BPCL ,Hyderabad.
This is to further declare that this project report is authentic and not submitted by any other student previously. I also confirm that the contents of the report and the views contained there in have been discussed and deliberated with the Guide
My heartfelt gratitude goes to my company guide M.Sudhakar, Territory Manager (Lubes). Who initiated the Midas touch to all the queries and actually made this project possible by edge. I would also like to convey my gratitude to my guide B.Raghunatha Rao, Asstt. Manager Marketing (Lubes) who made me walk all the steps of this project, intricately and helped me in formulating the entire framework of this analytical research. I would also like to acknowledge my sincere thanks to Dr.A.R.Aryasri , Director of SMS, JNTUH for providing me the opportunity to do my summer training in Bharat Petroleum Corporation Limited (BPCL). A word of thanks to all my respondents who spared their valuable time from their busy itinerary in filling up the questionnaires and made the project complete. Finally, I express my gratitude to the every person who has devoted their valuable time in accomplishing my summer internship project.
Executive Summary ……..………………………………………………………………….. 8 Brief Analysis of Report…..………………………………………………………………… 9 Introduction. Need for the research ……………………………………………………………………….. 11 Research Problem …………………………………………………………………………... 11 Research Objectives …………………...……………………………………………………. 12 An Insight into the Research Scope of the study …………………………………………………………………………... 13 Research Methodology ……………………………………………………………………… 13 Type of research …………………………………………………………………… 13 Sources and tools of data collection…………………………………………........... 13 Sampling Techniques………………………………………………………………. 14 Sample Size ……………………………………………………………………...... 14 Limitation of the Research……………………………………………………….... 14 The Indian Lubricant Industry……………. ………………………………………………... 15 Company profile…………………. ……………………………………………………........22 MAK Lubricants …………………………………………………………………………….27 MAK Lubricants sales and market share…………………………………………………….28 MAK services………………………………………………………………………………..29 OEM tie-ups of MAK Lubricants…………………………………………………………...31 Competitors of BPCL Lubricants (MAK Lubricants) ……………………………………...34 Brief about the competitors in the authorized service stations segment…….……................35 Primary Research in authorized service stations……………………………………………38 Present Market share …………….. ……………………………………………......39 Basis for selecting and buying………………………………………………………40 Parameters seen while buying………………………………………………………41
Number of brands used …………………………………………………………….42 Impact of schemes…………………………………………………………………..43 Consumption of lubricants………………………………………………………….44 Maximum consumption months……………………………………………………44 Findings……………………………………………………………………………………45 Conclusion…………………………………………………………………………………46 Annexure…………………………………………………………………………………..47 Bibliography……………………………………………………………………………….50
The project title was “To analyze the factors to retain at least 60% of market share in MAK lubricants sales to authorized service stations in Hyderabad market. The research work was divided into two phases for reporting & analyzing the factors respectively. Each phase is being described as follows:Phase 1 Phase 1 was the starting point of research work. Before going out for primary research work, I studied the lube oil industry with the help of internet & collected some useful insight about the industry. In the primary research work, I first of all decided on the different category of persons (stakeholders) who are linked with the engine oil. These persons/stakeholders were as follows:1) Concerned persons involved in procurement of Lubricant oil at service stations. 2) Distributor. Then I had carried an exploratory survey for each stakeholder without drawing any questionnaire. This random sample helps me to understand the various factors affecting the buying decision of engine oil. But the information which I get was quite raw & hence I moved on to the second phase for a systematic review of the enlisted factors gathered from the exploratory survey. Phase 2 After understanding the enlisted factors, I formed the questionnaire, covering each & every aspect about buying behavior of engine oil. I formed questionnaire.. I had taken a sample of 26 authorized service stations ( Two wheeler) from all the major part of Hyderabad. From this survey I try to figure out the relationship between the buying behaviors of authorized service stations, after completing primary research work, drafted out the studied factors on the word file & gave the shape of a project report.
Brief Analysis of Report
Overall from the given feedback & analysis it can be clearly stated the fact that the “OEM Tie up” is the top most factor which is affecting the buying decision of lubricant oil at authorized service stations. Hence in order to increase the market share we have to increase the OEM tie ups parameter of “MAK”.
The other factor which is affecting the buying decision of lube oil is the price of a particular brand. The brand has to justify the price structure to its users. So, in order to increase the perceive value of MAK the company can offer discounts or complimentary gift items along with the lube oil. So the company should make proper manipulation in its price structure to satisfy the perceived value to its customers.
Quality is also a major factor during selection and buying of the lubricants, it should be continuously improved and its grades also must be improved depending on the technology growth, as the technology in the automobile sector is continuously changing ,so its quality and grades should improved dynamically according to the technology. The market share can also be increased by setting up MAK Garage, Hero Honda Service Stations MAK Quik Lube Oil Change. Even though their presence is available in major cities, its presence not available in Hyderabad market. The company should offer schemes to the customers coming to authorized service stations using MAK lubricant in order to increase the consumption of lubricant at authorized service stations in turn it will increase its sales to authorized service stations.
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Need for the research
Bharat Petroleum Corporation Limited is marketing its lube oil under the brand name of “MAK” all across India. MAK has got many type of lube oil (e.g.:-coolant, grease etc) incorporated under its name. MAK is also the market leader of Indian lube oil industry with a share of around 20%. To increase its market share in authorized service stations, to analyze this recommendations are to be derived out on the basis of the research work to formulate new marketing strategy of “MAK”.
The research problem was to know and analyze the factors that will increase the market share in MAK lubricants to authorized service stations. For this analysis to be carried out, we have to work on the various factors which are influencing for the selection of the Engine Oil for use at their service station. These factors will be helpful in formulating new ideas or recommendations for the growth of company. Implementation of the following ideas will help in increasing the market share of MAK lubricants to authorized service stations. So, ultimately the goal of doing this project is:-
“To Study the various factors to retain at least 60% of Market share in MAK lubricants sales to authorized service stations in Hyderabad market”.
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To understand the Lube industry (mainly MAK engine oil market of Hyderabad) from the Secondary Research.
To analyze all the important parameters in selection and buying of engine oil.
To formulate questionnaire.
To undertake exploratory survey of MAK lubricant at authorized service stations market of Hyderabad with the help of two wheeler authorized service stations.
To know the present market share of MAK lubricants in authorized service stations of two wheeler segment.
To analyze all the survey data & formulate recommendations based on it to increase the market share of MAK lubricants.
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An Insight into the Research
Scope of the study
The research work will be totally concentrated inside the Hyderabad region. The Research work will cover the respondents from the two wheeler authorized service stations.
This research work is done to first find out the factors which affect selection and the buying decision of engine oil in authorized service stations & secondly on the basis of survey analysis, formulate recommendations to improve market share.
Type of research
The research work conducted is exploratory & descriptive in nature. This research work is used to investigate the factors which are affecting the buying decision of engine oil in authorized service stations. It’s an exploratory and descriptive research, as it has using both the secondary data and surveys respectively. Sources and tools of data collection a) Primary Data The data was being gathered through a survey based research approach with the help of questionnaire. The questionnaire was made in English.
b) Secondary Data The source of secondary data was the articles on the engine oil mentioned on the internet. The sources of all the sites are mentioned in bibliography & under the subscript where ever it is used in this report.
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Random sampling technique has been used, as the respondents are scattered all over the Hyderabad region.
The questionnaire which was formulated to carry out this research work is same for all respondents. The sample size for this survey was 26 authorized service stations.
Limitation of the Research
There were few limitations in this research work. The sample covers all the major portions of Hyderabad, but still it was not able to cover the full width of Hyderabad. This limitation is because of the time span. So, there is a much broader need to increase the sample size to get more concrete results. Also the secondary data on engine oil, available on internet is not sufficient. There is no where mentioning of % wise market share of engine oil in Hyderabad. This data was needed to check the % error in the report. So, error in report cannot be reported which is a big limitation of the given analysis. One of the limitations was that, I was the only person involved in reporting the data. Therefore, asking of same question from so many people can register some error in reporting the data which is called human error.
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Indian Lubricant Industry
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Indian Lubricant Industry
Indian lubricants’ industry presents new market opportunities, Strong growth in the Indian automotive, power and engineering sectors is creating new market opportunities for lubricants’ manufacturers, according to this new study. In the automotive sector, consumers are migrating to better quality vehicles and motorbikes and as a result, using higher grade lubricants; this is benefiting multi-grade lubricant products with strong brand recognition and wide distribution. In the industrials’ segment, high levels of investment in the power, manufacturing and transport sectors should drive very strong growth for transformer oils, marine and aviation lubricants. Whilst there are no restrictions on foreign lubricant manufacturers from establishing 100%owned operations in India, many have chosen to partner with local companies. The Indian automotive lubricants market is largely price sensitive and volume growth is stagnating due to longer lasting lubricants. The market is fragmented with over 22 big and small manufacturers and with the spate of mergers and acquisitions (M&A), only a handful of big companies enjoy a major market share. Companies are adopting a more customer-oriented approach where they are likely to focus on creating brand awareness through print and visual media. For example promotional campaigns and trade shows offering gifts to their customers are methods of driving sales of automotive lubricants. The original equipment segment and retail trade are the two major marketing channels in the Indian automotive lubricants market. Due to the growing competition, tie-ups with original equipment manufacturers (OEM) are becoming important as they reinforce the value proposition of a particular brand. Petrol pumps form a major distribution channel in retail trade, however sales of lubricants through retail outlets (also called ‘the bazaar trade’) has transformed the Indian automotive lubricants market into a fast moving consumer goods (FMCG) sector. The other marketing channels are authorized service stations, garages, rural and agricultural dealers, super markets, and wholesale distributors.
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Public sector unit (PSU) companies, that manufacture their own base oil, follow different distribution strategies as compared to private participants that solely dependent on imports. While PSUs sell through their own wide spread network of petrol stations private manufacturers prefer retail outlets. Engine oil, which accounted for over 70.0 percent market share in 2004 in the Indian automotive lubricants market, plays the most crucial role in deciding the market share of manufacturers. Increase in demand for four stroke motorcycles, tie ups with original equipment manufacturers, and implementation of new pollution norms are just some of the key drivers of the engine oil segment. The brake oil and coolant is the next largest segment in the Indian automotive lubricants market. Demand for coolants is increasing due to continuous growth in heavy commercial vehicles, increasing awareness among the customers, new cooling system technologies, and OEM tie-ups. In brake oil segment, increasing growth in light commercial vehicles, introduction of new brake systems, consumption of lubes by commercial passenger vehicles, and changing customer mindset regarding specialty lubricants are expected to push demand further. The market for gear oils is also growing rapidly and has a high potential due to the increasing number of vehicles on the road. New generation vehicles with advanced gear system technologies and automatic transmission systems require special type of lubricants resulting in greater demand for multi axel gear oil and API synthetic gear oil, API GL-5, API MT-1, and ultra-Matic, which reduce the oil changing intervals. In the long term, the overall outlook for the automotive lubricants market is expected to be positive due to the growing Indian economy along with the increased purchasing power of consumers.
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The lubricant marketers generally pursue one or more of the following strategies when pursuing business: SPECIFICATION. The lubricant is said to meet a certain specification. In the consumer market, this is often supported by a logo, symbol or words that inform the consumer that the lubricant marketer has obtained independent verification of conformance to the specification. Examples of these include the API’s donut logo or the NSF tick mark. The most widely perceived is SAE viscosity specification, like SAE 10W-40. Lubricity specifications are institute and manufacturer based. In the U.S. institute: API S for petrol engines, API C for diesel engines. For 2007 the current specifications are API SM and API CJ. Higher second letter marks better oil properties, like lower engine wear supported by tests. In EU the ACEA specifications are used. There are classes A, B, C, and E with number following the letter. Japan introduced the JASO specification for motorbike engines. In the industrial market place the specification may take the form of a legal contract to supply a conforming fluid or purchasers may choose to buy on the basis of a manufacturers own published specification. Original equipment manufacturer (OEM) approval: Specifications often denote a minimum acceptable performance levels. Thus many equipment manufacturers add on their own particular requirements or tighten the tolerance on a general specification to meet their particular needs (or doing a different set of tests or using different/own testbed engine). This gives the lubricant marketer an avenue to differentiate their product by designing it to meet an OEM specification. Often, the OEM carries out extensive testing and maintains an active list of approved products. This is a powerful marketing tool in the lubricant marketplace. Text on the back of the motor oil label usually has a list of conformity to some OEM specifications, such as MB, MAN, Volvo, Cummins, VW, BMW or others. Manufactures may have vastly different specifications for the range of engines they make; one may not be completely suitable for some other.
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Performance: The lubricant marketer claims benefits for the customer based on the superior performance of the lubricant. Such marketing is supported by glamorous advertising, sponsorships of typically sporting events and endorsements. Unfortunately broad performance claims are common in the consumer marketplace, which are difficult or impossible for a typical consumer to verify. In the B2B market place the marketer is normally expected to show data that supports the claims, hence reducing the use of broad claims. Increasing performance, reducing wear and fuel consumption is also aim of the later API, ACEA and car manufacturer oil specifications, so lubricant marketers can back their claims by doing extensive (and expensive) testing. Longevity: The marketer claims that their lubricant maintains its performance over a longer period of time. For example in the consumer market, a typical motor oil change interval is around the 3,0006,000 miles (4,828-9,656 km). The lubricant marketer may offer a lubricant that lasts for 12,000 miles (19,312 km) or more to convince a user to pay a premium. Typically, the consumer would need to check or balance the longer life and any warranties offered by the lubricant manufacturer with the possible loss of equipment manufacturer warranties by not following its schedule. Many car and engine manufacturers support extended drain intervals, but request extended drain interval certified oil used in that case; and sometimes a special oil filter. Example: In older Mercedes-Benz engines and in truck engines one can use engine oil MB 228.1 for basic drain interval. Engine oils conforming with higher specification MB 228.3 may be used twice as long, oil of MB 228.5 specification 3x longer. Note that the oil drain interval is valid for new engine with fuel conforming car manufacturer specification. When using lower grade fuel, or worn engine the oil change interval has to shorten accordingly. In general oils approved for extended use are of higher specification and reduce wear. In the industrial market place the longevity is generally measured in time units and the lubricant marketer can suffer large financial penalties if their claims are not substantiated.
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Efficiency: The lubricant marketer claims improved equipment efficiency when compared to rival products or technologies, the claim is usually valid when comparing lubricant of higher specification with previous grade. Typically the efficiency is proved by showing a reduction in energy costs to operate the system. Guaranteeing improved efficiency is the goal of some oil test specifications such as API CI-4 Plus for diesel engines. Some car/engine manufacturers also specifically request certain higher efficiency level for lubricants for extended drain intervals. Operational tolerance: The lubricant is claimed to cope with specific operational environment needs. Some common environments include dry, wet, cold, hot, fire risk, high load, high or low speed, chemical compatibility, atmospheric compatibility, pressure or vacuum and various combinations. The usual thermal characteristics is outlined with SAE viscosity given for 100°C, like SAE 30, SAE 40. For low temperature viscosity the SAE xxW mark is used. Both markings can be combined together to form a SAE 0W-60 for example. Viscosity index (VI) marks viscosity change with temperature, with higher VI numbers being more temperature stable. Economy: The marketer offers a lubricant at a lower cost than rivals either in the same grade or a similar one that will fill the purpose for lesser price. (Stationary installations with short drain intervals.) Alternative may be offering a more expensive lubricant and promise return in lower wear, specific fuel consumption or longer drain intervals. (Expensive machinery, un-affordable downtimes.) Environment friendly: The lubricant is said to be environmentally friendly. Typically this is supported by qualifying statements or conformance to generally accepted approvals. Several organizations, typically government sponsored, exist globally to qualify and approve such lubricants by evaluating their potential for environmental harm. Typically, the lubricant manufacturer is allowed to indicate
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such approval by showing some special mark. Examples include the German “Blue Angel”, European “Daisy” Eco label, Global Eco-Label “GEN mark”, Nordic, “White Swan”, Japanese “Earth friendly mark”; USA “Green Seal”, Canadian “Environmental Choice”, Chinese “Huan”, Singapore “Green Label” and the French “NF Environment mark”. Composition: The marketer claims novel composition of the lubricant which improves some tangible performance over its rivals. Typically the technology is protected via formal patents or other intellectual property protection mechanism to prevent rivals from copying. Lot of claims in this area are simple marketing buzzwords, since most of them are related to a manufacturer specific process naming (which achieves similar results than other ones) but the competition is prohibited from using a trademark. Quality: The marketer claims broad superior quality of its lubricant with no factual evidence. The quality is “proven” by references to famous brand, sporting figure, racing team, some professional endorsement or some similar subjective claim. All motor oil labels wear mark similar to "of outstanding quality" or "quality additives," the actual comparative evidence is always lacking.
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BRIEF and HISTORY
BRIEF. Bharat Petroleum Corporation Limited (BPCL) is one of India's largest PSU companies, with Global Fortune 500 rank of 287 (2008). Its corporate office is located at Ballard Estate, Mumbai. As the name suggests, its interests are in petroleum sector. It is involved in the refining and retailing of petroleum products. Bharat Petroleum is considered to be a pioneer in Indian petroleum industry with various path-breaking initiatives such as Pure for Sure campaign, Petro card, Fleet card etc.
BPCL's growth post-nationalization (in 1976) has been phenomenal. One of the single digit Indian representatives in the Fortune 500 & Forbes 2000 listings, BPCL is often referred to as an “MNC in PSU garb”. It is considered a pioneer in marketing initiatives, and employs “Best in Class” practices.
Bharat Petroleum Corporation Limited (BPCL) specializes in refining, processing, and distributing petroleum products. It offers petrol, diesel, aviation fuel, liquefied petroleum gas (LPG) and lubricants. The company primarily operates in India, where it is headquartered in Mumbai and employs about13, 968 people.
The company recorded revenues of INR1, 112,431 million (approximately $27,632.8 million) in the fiscal year ended March 2008, an increase of 13% over 2007. Its net profit was INR17, 696 million (approximately $439.6 million) in fiscal 2008, a decrease of 17.5% compared to 2007.
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The 1860s saw vast industrial development. A lot of petroleum refineries came up. An important player in the South Asian market then was the Burmah Oil Company Ltd. Though incorporated in Scotland in 1886, the company grew out of the enterprises of the Rangoon Oil Company, which had been formed in 1871 to refine crude oil produced from primitive hand dug wells in Upper Burma. The search for oil in India began in 1886, when Mr. Goodenough of McKillop Stewart Company drilled a well near Jaypore in upper Assam and struck oil. In 1889, the Assam Railway and Trading Company (ARTC) struck oil at Digboi marking the beginning of oil production in India.
While discoveries were made and industries expanded, John D Rockefeller together with his business associates acquired control of numerous refineries and pipelines to later form the giant Standard Oil Trust. The largest rivals of Standard Oil - RoyalDutch, Shell, Rothschilds came together to form a single organization: Asiatic Petroleum Company to market petroleum products in South Asia.
In 1928, Asiatic Petroleum (India) joined hands with Burmah Oil Company - an active producer, refiner and distributor of petroleum products, particularly in Indian and Burmese markets. This alliance led to the formation of Burmah-Shell Oil Storage and Distributing Company of India Limited. A pioneer in more ways than one, Burmah Shell began its operations with import and marketing of Kerosene. This was imported in bulk and transported in 4 gallon and 1 gallon tins through rail, road and country craft all over India. With motor cars, came canned Petrol, followed by service stations. In the 1930s, retail sales points were built with driveways set back from the road; service stations began to appear and became accepted as a part of road development. After the war Burmah Shell established efficient and up-to-date service and filling stations to give the customers the highest possible standard of service facilities.
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FROM BURMA SHELL TO BHARAT PETROLEUM .
Burmah Shell Refineries was incorporated as a company in 1952, and established a refinery in Mahul .On 24 January 1976, the Burmah Shell Group of Companies was taken over by the Government of India to form Bharat Refineries Limited. On 1 August 1977, it was renamed Bharat Petroleum Corporation Limited. It was also the first refinery to process newly found indigenous crude Bombay High, in the country. BHARAT PETROLEUM “then and after” The company installed microprocessor based digital integrated distributed control systems in catalytic reformers and introduced a new solvent unit to replace the pneumatic control system in 1993.The company also installed an advanced control system for its catalytic control unit. The company then incorporated a joint venture company, Bharat Oman Refineries, in 1994.There after BPCL signed a memorandum of understanding (MOU) with Bank of Baroda in 1995 to launch the first co-branded credit card in the country. In 1998, BPCL entered into a joint venture with Petronet (India) for the construction of a 308 km pipeline from Kochi in Kerala to Karur in Tamil Nadu. The following are a few achievement achieved by BHARAT PETROLEUM CORPORATION LTD:
· McDonald's made an agreement with BPCL to open and run restaurants at selected petrol pumps across the country in 2000. Quicky's, the global coffee chain, followed suit in 2001, and began ton offer its services at BPCL stores. · BPCL launched Speed '93, its own brand of petrol, in 2003. In the following year, BPCL diversified its operations. The company entered into a business to business e-commerce arrangement with IDBI Bank to provide an automated payment and purchase process to BPCL's corporate and industrial clients. The company also tied up with Tata Consultancy Services to provide medical advisory and counselling services at Ghar, the highway retailing initiative of BPCL. · Bharat Petroleum Corporation Limited and GAIL formed another joint venture company, Central UP Gas, for implementation of City Gas Projects in Delhi and Kanpur in 2005. · In 2006, the Government of the Sultanate of Oman signed an Exploration and Production Sharing Agreement (EPSA) for the on land exploration block 56 with the consortium comprising
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BPCL, Oilex (Operator), Hindustan Petroleum Corporation Limited, GAIL India and Videocon Industries. In the same year, the company acquired a 20% interest in an exploration block in · In September 2008, BPCL and Videocon Industries Ltd acquired 50% stake in Brazil's EnCana Brasil Petroleo Limeade. · BPCL and GAIL (India) Limited announced to form a joint venture company, God’s Own Gas Company, for marketing compressed natural gas (CNG) and piped gas in Kerala and Karnataka, in March 2008. · In April 2008, BPCL announced the formation of joint venture Company in consortium with other companies, Shapoorji Pallonji Co Ltd and Nandan Biomatrix Ltd for establishment of Bio Diesel Value Chain in Uttar Pradesh, India. In the same month, BPCL and GAIL (India) Limited signed an MOU for cooperation in transmission and distribution of natural gas, LPG pipelines and city gas. · In August 2008, Punjab Energy Development Agency (PEDA) signed a MoU with BPCL to setup one M/W Solar Photovoltaic Power Plants at Lalru in Punjab, India.
MAJOR PRODUCTS AND SERVICES: Bharat Petroleum Corporation Limited (BPCL) refines, stores, markets and distributes petroleum products. The company’s key products and services include the following:
PRODUCTS: I. Petrol II. Diesel III. LPG IV. Gasoline V. Kerosene VI. Lubricants VII. Aviation fuel VIII. Fuels and solvents
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SERVICES: I. Convenience stores II. ATMs III. Car washes IV. Free air and water V. Lubricant top-ups VI. Energy audits VII. E-banking services VIII. Consultancy and technical services IX. Online ordering
Bharat Petroleum offers a full range of Automotive Engine Oils, Gear Oils, Transmission oils, Specialty Oils and Greases. The correct usage of these Lubricants of right quality ensures prolonged and trouble free vehicle operation, providing maximum benefits to the users of present day modern vehicles. In line with the economic liberalisation in India, Lubricants was the first downstream Petroleum product to be totally deregulated with effect from 1991. Since then a large number of players - National, MNCs as well as Global Players - have entered the Indian Lubricants market. Despite operating in a totally competitive environment, BPCL's Lubricants SBU has been registering a growth in lubricant sales continuously over the past couple of years. In 2007-08, an overall growth of 10% has been registered, with a healthy turnover of Rs. 1680 crores (approx USD 350 million). In 1998, BPCL re-launched lubricants in new attractive packs, mainly in Automotive category with three major brands depicting each segment- Mak for Diesel Engine oils, Automol for Petrol Engine oils and Glide for Two/Three wheelers(mainly 2T then). In the year 2003, BPCL decided to go for Umbrella Brand-MAK Lubricants, in subsequent years, branded all BPCL industrial grades with MAK.
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MAK Lubricants sales and its market share
The economic slowdown has adversely affected the Lubricants business unit, which ended the year with a sales volume of 203.22 TMT, as compared to 231.99 TMT achieved in 2007-08. The decline in the sales volume was mainly on account of the lower sales of base oil during the year. However, notwithstanding the difficult market conditions, the sales volumes of finished lubricants has grown by 3.1% with the Reseller Channel growing by 5% and industrial segment by 2%. During the year, segment specific oils like MAK D-Gen and MAK Auto XL were introduced to cater to niche markets. The network of MAK distributors was expanded with the objective of gaining leadership position in high value grades. BPCL’s service initiatives viz. MAK Garage and MAK Mobile Van, have also been well received. On the retail front, service initiatives like Hero Honda City Works, TATA Authorised Service Stations, V-Care and Quick Oil Change programs were effectively implemented to give quality service to customers. On the exports front, BPCL consolidated its presence in Sri Lanka, Nepal and Bangladesh and has commenced supplies to the Chinese market. The Group II base oil, ‘MAK Base’, produced by Mumbai Refinery, is one of the finest in the country. It has been mainly consumed for manufacturing of MAK Lubricants. In addition, the base oil was sold to other manufacturers, besides being exported. The tough economic environment will continue to pose challenges to the business. BPCL aims to leverage its strengths in terms of a captive source of world class base oil and a well established brand. Attention is also being placed on achieving greater efficiencies in the area of supply chain management. With a growing number of new Genuine Oil tie-ups with reputed manufacturers and a better presence in the market, BPCL is confident of retaining and sustaining its position in the market even in these difficult times.
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Lubes Shop To facilitate customers an easy accessibility for procurement of their Lubricants requirement and meeting them at their point of need compelled Bharat Petroleum to open Lube shops. These shops are exclusive lubricants reselling points, which cater to customer satisfaction confirming with the 'Quality' and other standards of Bharat Petroleum. With the deregulation and entry of multinationals in the lubricants market, BPCL have experienced a shift of trade to the 'bazaar'. Recognizing the potential and the fact that competitors have utilized this channel segment to their advantage by allowing huge discounts Bharat Petroleum is also determined to address this customer segment and passing the discount to the end customer instead of the channel. These branded lubes shops are available in all major cities. MAK Garage MAK lubricants has launched this initiative in the year 2006 to promote MAK lubricants among the mechanic segment by enrolling them in to the umbrella network of MAK Garage. Currently BPCL have approximately 800 MAK garages across the country exclusively using MAK Lubricants. Hero Honda Service Stations A Joint venture initiative between Hero Honda - the worlds largest bike manufacturer and Bharat Petroleum. This initiative is to utilise the BPCL network across the country to privide value added services to our customers through this City Work network at our retail outlets. Currently we have around 170 HH cityworks operating in the country.
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TASS TATA Authorized Service Station is another initiative for strengthening our strong relationship with Auto Major TATA. We have a tie-up for marketing co-branded Lubricants/greases/specialty products - MAK TATA products. TASS is an extension of this tie-up - providing TATA vehicle service network across the country through out Dealer network. This service network is of two types - TASS for heavy vehicles and "SUVIDHA" for TATA Ace vehicles. VCC Bharat Petroleum launched this new initiative "VEHICLE CARE CENTRE" at our retail outlets mainly to provide state of the art servicing facility to our esteemed customers at an affordable rates. The network is growing and is gaining popularity across the country. MAK Quik Lube Oil Change An Initiative to provide the best of service to esteemed customers – keeping in mind the value of time, BPCL have initiated the “MAK Quik Lube oil Change” at many of its Retail outlets. This initiative is mainly to cater to the Bike and Car/SUV customers to change the Engine oil in their vehicle with in short span of time. The major advantages of this initiative to the customer is
• • • • • •
Speedy oil change in front of their own eyes. Mechanized system of Oil change – helps in removing the old oil completely. Genuine MAK product Free Oil change facility – Only cost of the product to be paid by the customer. Quick turnaround time for the customer. Special offers to the customers.
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OEM Tie ups of Mak Lubricants MAK CAPABILITIES Keeping pace with changing customer preferences, the vehicle/equipment manufacturers are competing to offer the best Value for Money to customers. Coupled with emerging environmental regulations and new technologies, OEMs of vehicles and equipments are constantly trying to reduce maintenance costs. BPCL is continuously working alongside OEMs to develop and upgrade genuine oils for their vehicles and equipments to address the requirements of ever changing technology. Pioneering the cause of industrial growth over the last 3 decades, BPCL R&D and marketing teams have provided solutions for efficient and specialized lubricant applications in steel, cement, power, engineering, road construction and other leading industries in India. These applications include various compressor, genset, shock absorber oil manufacturers who provide branded lubricants for use during and after warranty for peak performance. Right from the advent of Maruti-Suzuki in 1984, our R&D team at BPCL state-of-the-art R&D Centre has demonstrated competencies to develop customized solutions for automakers in India. BPCL R&D has developed more than 300 different formulations in the past 10 years, out of which 50 were developed in the last 3 years BPCL commissioned its own LOBS plant at Mumbai, using the latest Chevron Lummus Global patented ‘All Hydro Processing Technology’ in June 2006. This has enabled us to manufacture superior quality ‘MAK Base’ oils exceeding the requirement of API Group II (rated as Group II plus). OEMs have acknowledged BPCL’s identity of quality base oil producer, best in class R&D capabilities and marketing acumen. OEM PARTNERSHIPS In addition to Indian presence with plethora of lubricant options for all cross sections of the industry, BPCL (MAK LUBRICANTS) also has agreements with leading automotive manufacturers having both National & International presence.
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Original Equipment Manufacturers (OEMs) and Equipment manufacturing industries play a strategic role in our business. BPCL have a long and successful history of partnerships with leading OEMs across all vehicle categories. With strong brands, superior technology and width and depth of distribution, BPCL (MAK LUBRICANTS) is an ideal partner for progressive OEMs seeking to offer their consumers the best products and services. Hero Honda Motor Limited Hero Honda Motors Limited - the single largest two-wheeler manufacturer in the world has an association with BPCL (MAK LUBRICANTS) since the year 2004. MAK Lubricants during the five years of association has become the largest supplier of engine oils for initial fill as well as to HHML dealers, Authorized service stations and spare part stockists. BPCL has been working closely with HHML & its sister concerns to develop speciality products like Engine oils and Shock Absorber Fluids which can meet the stringent HONDA (JAPAN) specifications. Apart from the above BPCL has commissioned Hero Honda City Works àexclusive servicing option for HHML customers’ at BPCL Retail Outlets and numbers are growing by the day. TVS Motor Company Limited TVS Motor Company is the third largest two-wheeler manufacturer in India and one among the top ten in the world, with annual turnover of mo re than USD 1 billion in 2008-2009, and is the flagship company of the USD 4 billion TVS Group. BPCL (MAK LUBRICANT) has an exclusive tie-up with TVS MOTOR COMPANY to supply engine oils for initial service fill as well as TVSM dealers, Authorized service stations and spare part stockists. BPCL is also working to develop, manufacture and supply specially formulated engine oils and speciality products for use in TVSM two wheelers as well as factory requirement. . TVS TRU 4 the first JASO MA 2 specification oils of its kind has been introduced by BPCL for use in TVSM two- wheelers and is distributed through all TVSM authorized dealerships & workshops as well as BPCL’s extensive reseller network.
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Tata Motors - Commercial Vehicles Division Tata Motors - Commercial Vehicles Division is the largest manufacturer of commercial vehicles in India. We have a long and fruitful relationship with Tata Motors for over 5 years. This includes a strategic alliance for supplying of Engine oils for initial fill as well as Co-branded engine oils and speciality products to Tata Motors dealerships, Authorized Service Network & Tata Motor Spare part dealerships across the country. MAK Lubricants has been jointly working with Tata Motors in all areas including joint product development, promotion and customer service. BPCL’s MAK TATA MOTORS CH4 15 W 40 was specially developed for Tata Motors and is endorsed by Tata Motors for use in all their commercial vehicles fitted with both Tata & Cummins Engine. Apart from the above BPCL has commissioned Tata Authorized Service Stations servicing option for TML customers’ at BPCL Retail Outlets and many more are expected to get activated over the years. General Motors India General Motors India has already completed 12 years if Indian Operations and is the manufacturer of diesel & petrol passenger cars and multi utility vehicles in the country. We have a strategic alliance for supplying Co-branded engine oils and speciality products to the General Motors dealerships and authorized service network across the country. BPCL (MAK LUBRICANTS) is jointly working with General Motors India in all areas including joint product development, promotion and customer service. BPCL GM MAK Genuine 15 W 40 Deisel & Petrol Engine Oils were specially developed for General Motors and is endorsed by General Motor for use in all their passenger cars as well as Utility vehicles. Apart from the above BPCL has commissioned Vehicle Care Centre àexclusive servicing option for customers’ wherein GMI has adopted such VCC’s at BPCL Retail Outlets and more such VCCs are expected to get activated over the years.
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L&T Komatsu is the market leader in the excavator segment & commands more than 50% of the market share. BPCL (MAK LUBRICANT) has a tie-up with L&T Komatsu for the past 5 years to supply oils for supply to L&T Komatsu dealerships & users. BPCL is also working to develop manufacture and supply specially formulated hydraulic transmission oils and speciality products for use in L&T Komatsu excavators.
Competitors of Bharat Petroleum Corporation Limited (BPCL) Lubricants 1. Hindustan Petroleum Corporation Ltd (HPCL) 2. Indian Oil Corporation (IOCL). 3. Castrol India Ltd 4. Gulf Oil Corporation Ltd (Lubricant Division) 5. Valvoline Cummins Ltd (VCL) 6. Tide Water Oil Co (India) Ltd 7. Savita Group 8. Total Group, India 9. Balmer Lawrie & Co Ltd 10. Apar Industries Ltd 11. IPOL 12. Fuchs Lubricants (India) Pvt Ltd 13. Gagan Gases Ltd 14. Ganesh Benzoplast Ltd 15. The Andrew Yule Group 16. Cenlub Industries Ltd 17. Daya Lubricants Pvt Ltd 18. Dropco Multilub Systems Private Ltd
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Major Competitors Engine Oils used at authorized Service Stations Honda Engine Oil
Honda 4 Stroke Engine Oil is a premium Quality Genuine Engine Oil developed by the R & D of Honda Motors Ltd. Japan. Honda 4 Stroke Engine Oil conforms to International specifications of API SJ and SAE 20W40. Honda 4 Stroke Engine Oil has been developed keeping in mind the difficult driving conditions prevalent on Indian roads. To meet the complete lubrication needs of your Honda Scooters & Motorcycles we strongly recommend that you use Honda 4 Stroke Engine Oil. Test evaluation of Honda 4 Stroke Engine Oil indicates the clear benefits of this oil over conventional 4T Oils.
Savita Chemicals Limited
Savita Chemicals Limited was incorporated in 1961, as a small manufacturing unit producing white mineral oil in Mumbai. Today, SCL specialises in manufacturing of petroleum specialty products like transformer oil, liquid paraffin, petroleum jelly, white mineral oil, automotive and other industrial lubricants. The company also operates wind power plants in Maharashtra, Karnataka and Tamil Nadu. Savita is in technical collaboration with Idemitsu Kosan, Japan’s largest independent oil company to manufacturing automotive and industrial lubricants.
Savita Chemicals Limited (SCL) specialises in manufacturing of petroleum specialty products like transformer oils, liquid paraffin, petroleum jelly, white mineral oil, automotive and other industrial lubricants. Savita group is today, India’s largest exporter of petroleum specialty products. Savita is the exclusive supplier of lubricants to the OEM’s like Toyota, Honda Siel and HMSI. Consistent growth of these companies will steadily fuel the demand for Savita’s lubricants. Similarly the growth of FMCG sector will boost the demand of white oil for personal care and hygiene products.
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Castrol India is the Indian subsidiary of UK-based Burma Castrol and is engaged in manufacturing and marketing of automotive and industrial lubricants and specialty products. It operates in the automotive as well as nonautomotive segments. The former includes oils for heavy-duty vehicles, cars, motorcycles and bikes, while the latter includes industrial lubricants, marine and energy lubricants and the services segment. The company is the market leader in the retail segment with a share of around 21% in the total automotive lubricants market.
CIL manufactures and markets a range of automotive and industrial lubricants. It markets its automotive lubricants under two brands - Castrol and BP. It has leadership positions in most of the segments in which it operates including passenger car engine oils, premium 2-stroke and 4-stroke oils and multigrade diesel engine oils. CIL has the largest manufacturing and marketing network amongst lubricant companies in India. CIL has 5 manufacturing plants across the country, including a state-of-the-art plant in Silvassa. It has its plant located at Patalganga, Paharpur, Silvassa and Tondiarpet. CIL reaches its consumers through a distribution network of 270 distributors, servicing over 70,000 retail outlets.
This lube is created by Yamaha.Engineering is at the heart of everything done at Yamaha, and they believe that oil is the lifeblood of our vehicles.That’s why Yamaha developed Yamalube® – a range of oils, lubricants and care products designed to help you get the best experience from your Yamaha motorcycle, scooter, ATV, snowmobile or other land product.We want every journey you make to be filled with excitement and satisfaction, and Yamalube® helps to keep that spirit alive. Yamaha vehicles are built to the most exacting standards, for the best results on the track, on the road and off-road.Wanting the best for our products, Yamaha’s engineers found that conventional engine oils couldn’t provide the performance and protection to meet their high standards.The Yamalube® oil series was developed to be the perfect oil for each vehicle in the Yamaha range.
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Yamalube® engine oils are made from a combination of base oils, additives and solvents, chosen and mixed to work perfectly for your vehicle.Yamalube® was designed by Yamaha engineers to work in harmony with the vital mechanical components of your vehicle. Yamaha recommends nothing else. Yamaha land vehicles are designed to meet the differing needs of their users. In line with these needs a range of dedicated oils has been developed. 4-stroke fullysyntheticengine oil for high-performance bikes and competition engines. 4-stroke semi-syntheticengine oil a unique blend for all road bikes in normal conditions. 4-stroke mineral engine oil premium quality, suitable for any 4-stroke engine used in normal conditions. 2-stroke semi-syntheticengine oil for 2-stroke engines. Suitable for standard or unleaded petrol engines.
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The primary research work was done on a group of authorized service stations to know the present market share of Mak lubricants, factors affecting market share of lubricants in authorized service stations .“The sample used for this research work was about 26 authorized service stations. This sample was taken randomly from all the major areas of Kukatpally, tarbund. A questionnaire was designed consisting of 21 questions (Given in Appendix 1) to Hyderabad which include
Erragadda, Somajiguda, Begumpet, Narayanaguda, Himayathnagar, Attapur,
understand the overall Market variables mentioned above. The Overall findings, conclusion & recommendations are mentioned in the next page.
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Present Market share of MAK Lubricants in authorized service stations
In 38% percent of authorized service stations Mak lubricants are used with the name of Hero Honda 4T plus, TVS and Bajaj lubes. Mak has OEM tie-ups with these 3 companies. Yamaha company supply Yamaha lubes to authorized service stations of Yamaha and its market share is 12%, Honda Company supplies Honda lubes to its authorized service stations and its market share is 19%. Idemitsu has OEM tie up with Herohonda and its market share is 12%. Castrol has tie-up with Suzuki and its market share is 12%. The market share of both valvoline and HP combined is 4%. Since from 3- 4 years 18% of the service stations have shifted to MAK brand.
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On what basis do the authorized service stations select and buy the lubricants
From the above pie chart it is analyzed that 92.31% of the stations are selecting the lubricant based on the OEM tie-ups and only 7.69% choose based on management preference. The stations who follow OEM tie-ups any follow company recommended lubricant and grade. Among the stations who does not follow the OEM tie-ups follow the company specified grade and choose lubricant brand which offers lower price with quality and good logistics and some times choose the lubricant brand that is demanded by the customer.
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Parameters seen by Service stations while procuring lubricants
From the graph it is analyzed that quality and price are main factors during selection and buying the lubricants to use in authorized service stations. The brand has to justify the price structure to its users. So, in order to increase the perceive value of MAK. So the company should make proper manipulation in its price structure to satisfy the perceived value to its customers. Quality is also a major factor during selection and buying of the lubricants, it should be continuously improved and its grades also must be improved depending on the technology growth, as the technology in the automobile sector is continuously changing ,so its quality and grades should improved dynamically according to the technology. Even though logistics parameter preference is low it plays an important role in authorized service stations, according to research it is said that no body have problem in logistics which means all the companies have good logistics so this parameter does not affect much in selection and buying decision of lubricants. Other than price and quality logistics will also be one of the factor for switching of brands. After quality and price parameters logistics parameter is seen. Brand popularity and demand are mostly seen in service stations that don’t follow OEM tie-ups.
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How many brands are used in an individual authorized Service Station?
Only in 4% of the authorized service stations multiple brand lubricants are used and remaining 96% single lubricant brand is used. In 30 percent of the service stations the Engine oil bought by the customers is allowed and remaining 70% percent of the service stations not allowed.
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Impact of the schemes on lubricants at authorized service station and respondants ready to implement if the company offers the scheme
The respondents at the authorized service stations who don’t have OEM tie ups with MAK lubricants said that they are not ready to accept the schemes of MAK lubricants and they are not ready to shift to MAK brand due to OEM tie ups and Company constraints. The respondents from the authorized service stations who have OEM tie up with MAK lubricant but not using that brand said that they are ready to shift to MAK brand if the company offers less price than present lubricants provider along with gifts and incentives. 70% percent respondents said that on providing schemes to the customers at the authorized service stations, the schemes would have a positive impact and show increase in number of customers coming to authorized service stations for service of their automobile rather than going to unauthorized service stations for service, which increases the consumption of oil at service station and there by sales of lubricants to authorized service stations increases. 19% of the respondents said that the schemes implemented by lubricant companies to customers do not show any impact. The customer comes to service stations and becomes loyal only based on how the servicing is done i.e... If the servicing done is good the customer comes again and if it is bad he switches the services station. 11% of the respondents said that it can’t be decided.
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Consumption of lubricants per month
MAK lubricant is the market leader in two wheeler authorized service stations segment. The consumption of lubricants among the total sample selected from whole population of authorized service stations segment is 28010 litres averagely per month. The market share of MAK
lubricants in the sales of lubricants to authorized service stations of two wheeler i.e.… consumption of lubricants at authorized service stations of two wheeler is 46.77%. The
consumption can be increased in this segment by offering schemes to customers and by conducting customer campaigns by which the sales of lubricants to authorized service stations of two wheeler can be increased.
Months consuming more lubricants
As per the respondent’s knowledge the consumption of lubricants will be more at authorized service stations in the months of rainy season, October due to Dussera festival, June, December, January.
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1. MAK is the market leader; it is used in more number of authorized service stations in two wheeler segment. 2. OEM tie-ups play prominent role in selection and buying of lubricants in authorized service stations segment. 3. If a automobile company has more OEM tie-ups, then price, quality, gifts and incentives are deciding factors in selection of lubricant brand in authorized service stations segment. 4. The authorized service stations which don’t follow OEM tie-up lubricants brand follow based on customer demand and management preference. 5. If a lubricant company offers a scheme to customers at authorized service stations shows a positive impact. It increases the number of customers coming to authorized service stations for the service of their automobile. 6. The authorized service stations of the company who don’t have OEM tie-ups with the MAK lubricant are not ready shift to Mak brand. 7. MAK is the market leader in sales of lubricant to authorized service stations which is known by their consumption at authorized service stations. 8. The consumption of lubricants at authorized service stations can be increased by offering schemes to the customers coming to their service stations which inturn will increase the sales of lubricants to authorized service stations. 9. The consumption of lubricants will be more at authorized service stations in the months of rainy season, October due to Dussera festival, June, December, January.
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1. In order to increase more market share the company has to increase its OEM tie-ups. 2. Another to way to increase its market share, in the case of company having more than one OEM tie-ups, they can be made to switch MAK brand by offering price lower than the competitor, offering gifts and incentives. 3. Quality is also a major factor during selection and buying of the lubricants, it should be continuously improved and its grades also must be improved depending on the technology growth, as the technology in the automobile sector is continuously changing, so its quality and grades should improved dynamically according to the technology. 4. The market share can also be increased by setting up MAK Garage, Hero Honda Service Stations (A Joint venture initiative between Hero Honda - the worlds largest bike manufacturer and Bharat Petroleum vehicle care center), MAK Quik Lube Oil Change in Hyderabad market. Their presence is available in other major cities and by implementing the same in this market the market share can be increased. According to my knowledge MAK Quik Lube Oil Change will be easier to set up and also increases the consumption of Mak lubricants. 5. The company should offer schemes to the customers coming to authorized service stations using Mak lubricant in order to increase the consumption of lubricant at authorized service stations in turn it will increase its sales to authorized service stations. 6. These schemes should be implemented in the months of rainy season, October due to Dussera festival, June, December, January, and March.
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Annexure QUESTIONNARE TO INCREASE MARKET SHARE
(Survey to retain at least 60% of market share in MAK lubricants sales to authorized service stations in Hyderabad market.)
Authorized service station name:
Respondent name: Contact number:
1. Since how many years you are running this business? 2. Which lubricant brand do you use in your service station? 3. Why do you prefer that brand? 4. Since how many years you are using that brand? 5. What do you look in the lubricants? a. Quality. b. Brand popularity. c. Price. d. Profit margin. e. Demand. f. Promotion. g. Packaging.
h. Logistics. i. Market demand. J. Availability in different quantities.
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6. On what basis do you buy the lubricants? a. Based on company preference. b. Customer preference. c. Original Equipment Manufacturers (OEM) recommendation. d. Popularity in your area. 7. Do you use lubricant from your service station or customer brings or both? 8. Do you use lubricants of multiple or single brand? 9. Where do you procure the lubricants from? a. Company. b. Distributors. c. Big retail shops. 10. How the customers do come to your service station? a. By your brand name. b. By mechanic recommendation. c. By retailers recommendation. d. By customer convenience. 11. Do you give any gifts / incentives to the person who recommends your service station? 12. Does the company of lubricant you use provide any gifts/ incentives/ promotional offers to you? 13. Do you provide any gifts or incentives to your customers? 14. Do you get lubricants on credit from the company/ distributor/ big retailer shop? 15. What is the impact if the company runs a scheme for lubricants at your authorized service station? Are you ready to implement it if the company offers the scheme? 16. What do you suggest/recommend Mak in order to increase its use and consumption in authorized service stations? 17. How is the relationship between you and lubricant provider (company/ distributor/ big retailer)?
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18. How is the logistics of the lubricant providing company? 19. How many units do you consume for servicing on an average per month? 20. Does consumption of lubricants vary from month to month? 21. If so, in which month the consumption of the lubricants will be more /less?
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http://www.bharatpetroleum.com/General/CR_Journey.aspx?id=4 http://www.bharatpetroleum.com/EnergisingBusiness/In_Financial.aspx?id=1 http://www.maklubes.com http://www.maklubes.com/Services.aspx#lubes http://www.researchandmarkets.com/reportinfo.asp?report_id=597487 http://wapedia.mobi/en/Lubricant?t=9 http://www.researchandmarkets.com/reports/364392/automotive_lubricants_markets_in_india.ht m http://www.yamaha-motor.com/Yamalube/2010_Yamalube_Catalog.pdf http://www.honda2wheelersindia.com/heo.html http://www.castrol.com http://www.savita.com
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