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Share prices

11/12/2017

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 8 December 2017. BDN financial editor Roger Willis reports.

New York was having a bad time owing to various uncertainties until tech and industrial stocks bounced back on Thursday and Friday — in the latter case boosted by above-forecast US jobs growth data for November. As a result, the NYSE’s benchmark S&P 500 index shuffled into positive territory by just 0.2%. Local powersports businesses did much better. Already riding on strong second-half sales, Polaris shares stacked on 6%. Harley-Davidson, with a lot less to brag about, was nevertheless 2.3% up at close of play and enjoying its second week above a 50-buck marker.

Europe was somewhat choppy too until the mood was lifted sharply by a breakthrough in the UK’s Brexit humiliation. The eurozone’s Eurofirst 300 finished with a healthy 1.6% weekly ascent. BMW, which has a large exposure to potential British grief through manufacturing investment in Oxford and Birmingham, was the obvious beneficiary in our neck of the woods with a 1.8% share price hike. VW missed that particular boat though, having already “onshored” Bentley engine assembly and body pressing to Germany, and its shares flatlined.

Elsewhere on the continent, motorcycling investor behaviour was inexplicably erratic. In Austria, the Wiener Börse ATX index fell by 0.3% but KTM shares recovered by 3.4%. Conversely, Italy’s MIB index in Milan climbed by 3% while Piaggio dropped by 1.9%.

Japan was a bit of a conundrum as well. Tokyo’s Nikkei 225 stayed stubbornly flat, growing by a minuscule 0.03%. That was reflected exactly by Honda. Yamaha managed a weak 0.4% gain. But Suzuki went ballistic, rocketing upwards by 5.6%. Kawasaki, meanwhile, lost a painful 3.1%.

Emerging markets were more predictable. In China, bike producers almost all followed negative market sentiment, falling in line with or faster than a 0.8% decline for Shanghai’s Composite index. India’s BSE Sensex, on the other hand, rose by 1.3% on the back of improving economic news. But speculative profit-taking as the year-end approached hit every major motorcycle manufacturer bar one. Investors are still piling into TVS stock, rather than cashing out, and it added 3.3%.

Price (P) Daily change (C) 52-week range (R) One-year investment return (Y)  

USA (US dollar)

Harley-Davidson    P 51.19  C +0.02%  R 63.40 - 44.52  Y -13.54%
Polaris    P 133.70  C +1.69%  R 134.29 - 77.91  Y +59.58%
Textron    P 54.84  C +0.09%  R 56.47 - 43.66  Y +13.47%
US Highland    P 0.0021  C -4.55%  R 0.0091 - 0.0003  Y +133.33%
Confederate    P 0.48  C -4.9%  R 0.51 - 0.03  Y +977.78%

Notes: Polaris makes Indian bikes, ATVs, snowmobiles, quadricycles and EVs. Textron produces own-brand ATVs. US Highland makes off-road bikes. Confederate Motors makes limited-edition cruisers.

CANADA (Canadian dollar)

BRP    P 49.64  C +3.22%  R 50.05 - 25.32  Y +76.67%

Notes: Bombardier Recreational Products makes Can-Am ATVs and Spyder road trikes, Ski-Doo snowmobiles, Sea-Doo PWCs and Rotax proprietary engines.

TAIWAN (Taiwanese dollar)

Sanyang    P 21.05  C N/A  R 23.20 - 20.00  Y +5.36%

Notes: Sanyang Motor (SYM) is the leading Taiwanese bike manufacturer.

VIETNAM (Hong Kong dollar)

VMEPH    0.44  C -2.22%  R 0.61 - 0.43  Y -9.28%

Notes: Vietnam Manufacturing & Export Processing Holdings, a JV partner of SYM, is the third-largest Vietnamese bike manufacturer.

INDONESIA (rupiah)

Astra    P 8250  C -0.6%  R 9350 - 7325  Y +7.49%
Indomobil    P 840  C -4%  R 1450 - 825  Y -39.52%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is British conglomerate Jardine Matheson. Indomobil Sukses Internasional is a Suzuki JV partner.

EUROPE (euro)

BMW    P 85.31  C +0.57%  R 91.76 - 77.07  Y -0.74%
VW    P 169.88  C +1.48%  R 175.40 - 127.50  Y +28.14%
KTM    P 5.70  C N/A  R 5.87 - 4.53  Y +14.18%
Piaggio    P 2.52  C -0.16%  R 2.86 - 1.45  Y +64.03%

Notes:  Volkswagen Group owns Ducati.

PAKISTAN (Pakistani rupee)

Atlas Honda    P 525.00  C +3.05%  R 657.72 - 470.00  Y -8.7%
Pak Suzuki    P 496.00  C -2.63%  R 936.42 - 431.10  Y -4.98%

Notes: Atlas Honda and Pak Suzuki are JV assembly partners.

INDIA (rupee)

Hero    P 3519.55  C -0.89%  R 4200.00 - 2957.00  Y +10.04%
Bajaj    P 3212.65  C +0.52%  R 3373.80 - 2551.00  Y +20.49%
TVS    P 748.65  C -0.1%  R 760.00 - 346.00  Y +107.17%  
Eicher    P 28,999.95  C +0.66%  R 33,483.95 - 20,210.00  Y +27.37%
Mahindra    P 1388.15  C +0.62%  R 1459.50 - 1141.40  Y +17.92%
LML    P 8.85  C +7.93%  R 14.50 - 8.10  Y -35.16%
Maharashtra    P 2706.15  C -1.15%  R 3450.00 - 1500.00  Y +70.45%
Scooters India    P 48.40  C +0.93%  R 75.95 - 34.70  Y +35.93%

Notes: Hero MotoCorp is a former Honda JV partner. Bajaj has a major shareholding in KTM and ties with it and Kawasaki. TVS is a former Suzuki JV partner and BMW Motorrad contractor. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has an own-brand bike range, a majority stake in French scooter brand Peugeot and owns formerly British BSA brand rights. LML is a former Piaggio JV partner making Vespa-derived retro scooters. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj. Scooters India makes Vikram three-wheeled taxis and light trucks.

JAPAN (yen)

Honda    P 3773  C +0.45%  R 3863 - 3000  Y +11.8%
Yamaha    P 3525  C +1.44%  R 3730 - 2287  Y +32.42%
Suzuki    P 6515  C +3.46%  R 6545 - 3930  Y +64.55%
Kawasaki    P 3610  C +0.28%  R 4110 - 3130  Y -8.04%

CHINA (yuan)

Qianjiang    P 19.15  C +1.92%  R 23.99 - 14.14  Y +12.76%
Zongshen    P 7.45  C N/A  R 9.91 - 6.90  Y -23.75% [Trading halted]   
Sundiro    P 5.71  C +0.35%  R 9.92 - 5.63  Y -39.46%
Jialing    P 6.43  C N/A  R 12.01 - 5.33  Y N/A [Trading halted]
Lifan    P 7.18  C +0.84%  R 11.20 - 7.03  Y -23.55%
Loncin    P 6.75  C +1.05%  R 9.33 - 6.47  Y -23.36%
Linhai    P 9.57  C +0.95%  R 21.57 - 9.28  Y -27.87%
GAG    P 24.49  C +1.58%  R 30.01 - 22.50  Y +1.56%
CFMoto    P 26.15  C +2.23%  R 50.92 - 19.63  Y N/A

CHINA (Hong Kong dollar)

Jianshe    P 8.53  C +2.16%  R 13.92 - 7.67  Y -38.72%

Notes: Qianjiang owns Keeway and Benelli. Zongshen makes own-brand bikes and proprietary engines, and has JV partnerships with Piaggio, (scooters), and Harley-Davidson (parts). Sundiro is a Honda JV partner. Jialing makes own-brand bikes using Honda licensed technology. Lifan makes own-brand bikes and distributes MV Agusta in China. Loncin is a Kawasaki JV partner and OEM engine contractor to BMW Motorrad. Linhai and Jianshe are Yamaha JV partners. Guangzhou Automobile Group (GAG) is the parent of Honda JV partner and own-brand bike manufacturer Wuyang. Recent new listing CFMoto exports to the UK under the WK Bikes brand.

MALAYSIA (ringgit)

Oriental Holdings    P 6.61  C +0.92%  R 7.00 - 6.45  Y -0.55%
Hong Leong    P 9.65  C +2.22%  R 10.60 - 9.08  Y +3.46%

Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner.

SOUTH KOREA (won)

KR    P 357  C -0.83%  R 1115 - 317  Y -53.64%
Daelim    P 81,800  C -0.97%  R 94,600 - 77,600  Y -1.21%

Notes: KR Motors makes Hyosung bikes and ATVs. Daelim Industrial retains a controlling 59% stake in Daelim Motor, the largest bike manufacturer in Korea. (The remainder is British, owned by Standard Chartered Bank.)