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Share prices

18/12/2017

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 15 December 2017. BDN financial editor Roger Willis reports.

As the Yuletide party season spread through Western markets like a debilitating disease, stock trading volume became increasingly subdued. In the US, news that tax reform legislation was virtually a done deal in Congress also boosted seasonal bonhomie and New York’s S&P 500 index closed with a weekly 0.9% gain.

However, that was led by the finance, consumer staples and healthcare sectors, and some metal-bashing manufacturers failed to recover from mid-week turbulence. Both Harley-Davidson and Polaris were among them, finishing on respective 1.4% and 6.4% losses.

Action was fairly tame in Europe too and the eurozone’s Eurofirst 300 was almost flat, just 0.2% down. The same could be said of German-speaking biker stocks too. BMW was on the positive side thanks to a 0.6% rise, while VW and KTM veered the other way, respectively 0.3% and 0.4% lower. The only disruption came in Italy, where parliament is about to be dissolved and a general election called. Uncertainties about the political crisis this will inevitably engender therefore hammered investor confidence and the Borse Italiana’s MIB index plunged by 3.1%. Piaggio copped the sharp end of that, falling by 5.2%.

The Japanese do actually celebrate non-religious aspects of Christmas — ie, gift-shopping and booze frenzies. But although life was quiet for many corporates, troubled telecoms and tech shares dragged Tokyo’s Nikkei 225 index 1.1% down. Honda and Yamaha were blithely untouched. The former rose by a minor 0.2% increment as the latter remained exactly dead flat week-on-week. Suzuki, which had benefited from a recent bull run, dropped by 3%. Profit-taking was a likely excuse. Kawasaki was 1.2% in arrears, broadly in line with Nikkei sentiment.

Emerging markets were both mixed and restrained. India’s BSE Sensex put on 0.6% but motorcycle manufacturing behaviour was all over the place. Mahindra was a noted winner, adding 6.9%. But it’s bike arm wasn’t responsible. A new production deal with Ford claimed the honours. Eicher and TVS improved, respectively by 1.7% and 1.5%. The two biggest players Hero and Bajaj went the other way, though, losing 0.5% and 0.4%.

China, beset by stumbling growth concerns, saw its Shanghai SSE Composite index 0.7% down. Five bike producers followed that cue. Qianjiang, Lifan, Linhai and Jianshe ignored the gloom with rising share prices.   

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

USA (US dollar)

Harley-Davidson    P 50.46  C +0.88%  R 63.40 - 44.52  Y -12.28%
Polaris    P 125.12  C -1.63%  R 134.66 - 77.91  Y +57.1%
Textron    P 55.22  C +1.54%  R 56.47 - 43.66  Y +13.8%
US Highland    P 0.0015  C +7.14%  R 0.0091 - 0.0003  Y +150%
Confederate    P 0.477  C N/A  R 0.51 - 0.03  Y +1017.43%

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 47.65  C -1.55%  R 50.05 - 25.32  Y +69.83%

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 21.55  C +2.13%  R 23.20 - 20.00  Y +6.84%

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

VIETNAM (Hong Kong dollar)

VMEPH    0.45  C -2.17%  R 0.61 - 0.43  Y -5.26%

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

INDONESIA (rupiah)

Astra    P 8300  C -0.3%  R 9350 - 7325  Y +9.19%
Indomobil    P 835  C -1.76%  R 1400 - 825  Y -40.1%

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 85.81  C -0.12%  R 91.76 - 77.07  Y -0.44%
VW    P 169.38  C -0.71%  R 175.40 - 127.50  Y +23.83%
KTM    P 5.68  C -0.35%  R 5.87 - 4.53  Y +12.99%
Piaggio    P 2.39  C -2.52%  R 2.86 - 1.45  Y +54.73%
Energica    P 3.09  C -0.96%  R 3.96 - 2.55  Y +19%

Notes:  Volkswagen Group owns Ducati. Energica Motor is an Italian manufacturer of electric superbikes

PAKISTAN (Pakistani rupee)

Atlas Honda    P 520.00  C N/A  R 657.72 - 470.00  Y -11.86%
Pak Suzuki    P 471.00  C +0.16%  R 936.42 - 431.10  Y -15.66%

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

INDIA (rupee)

Hero    P 3503.00  C +1.23%  R 4200.00 - 2957.00  Y +13.25%
Bajaj    P 3198.80  C +1.14%  R 3373.80 - 2551.00  Y +22.19%
TVS    P 760.25  C +1.48%  R 770.00 - 346.00  Y +101.53%  
Eicher    P 29,478.70  C +2.57%  R 33,483.95 - 20,210.00  Y +37.47%
Mahindra    P 1483.40  C +3.62%  R 1489.95 - 1141.40  Y +26.2%
LML    P 8.40  C +0.6%  R 14.50 - 8.10  Y -34.12%
Maharashtra    P 2869.75  C +1.91%  R 3450.00 - 1500.00  Y +86.63%
Scooters India    P 46.50  C -1.06%  R 75.95 - 34.70  Y +26.7%

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 3782  C -1.02%  R 3863 - 3000  Y +10.39%
Yamaha    P 3525  C -0.84%  R 3730 - 2287  Y +29.9%
Suzuki    P 6320  C -0.99%  R 6545 - 4042  Y +56.49%
Kawasaki    P 3565  C -1.79%  R 4095 - 3130  Y -7.32%

CHINA (yuan)

Qianjiang    P 20.50  C -1.3%  R 23.99 - 14.14  Y +23.22%
Zongshen    P 6.60  C -6.78%  R 9.77 - 6.53  Y -29.2%   
Sundiro    P 5.43  C +0.18%  R 8.47 - 5.33  Y -32.1%
Jialing    P 6.43  C N/A  R 12.01 - 5.33  Y N/A [Trading halted]
Lifan    P 7.30  C +0.97%  R 11.20 - 7.03  Y -17.93%
Loncin    P 6.65  C +0.91%  R 9.33 - 6.47  Y -20.67%
Linhai    P 9.87  C +1.02%  R 21.57 - 9.28  Y -22.71%
GAG    P 24.18  C -0.37%  R 30.01 - 22.50  Y +4.12%
CFMoto    P 25.76  C -1.49%  R 50.92 - 19.63  Y N/A

CHINA (Hong Kong dollar)

Jianshe    P 8.69  C +0.46%  R 13.85 - 7.67  Y -29.64%

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 6.57  C N/A  R 6.88 - 6.45  Y -1.44%
Hong Leong    P 9.64  C +0.42%  R 10.60 - 9.08  Y +5.08%

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

SOUTH KOREA (won)

KR    P 350  C -0.57%  R 1115 - 317  Y -59.3%
Daelim    P 83,400  C +0.48%  R 94,600 - 77,600  Y -0.24%

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.)