Register / Sign in

Share prices

02/01/2018

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 29 December 2017. BDN financial editor Roger Willis reports.

So 2017 finally hit the buffers. But it was generally whimper rather than bang. With many exchanges opening for just three days, investors were scarce and trading desultory. Few surprises emerged and most price movements were minor.

New York’s truncated opening hours saw its S&P 500 index drop marginally by 0.2%. The closing verdict on benchmark motorcycling shares was mixed. Harley-Davidson was 1.9% down across the week and lost just over 10% on a full-year basis. Polaris fell by 1% but has climbed in value by more than 50% since last January.

Of course, punters with high-risk appetites could have shunned regulated NYSE or NASDAQ routes to plenty and bought Confederate (soon to be Curtiss) shares in dodgy over-the-counter transactions. Those that did 12 months ago have multiplied their investments ten-fold. But if they sit on those holdings for too long, they could as easily lose their shirts.

Thin or non-existent action was the story on European bourses as well, where the eurozone’s Eurofirst 300 index declined by a mere 0.3%. Among biker-related equities, KTM was the weekly star in Vienna, posting an impressive 5% rise. Conversely, Piaggio in Milan compounded its recent losing streak with a 2.1% fall. In between them, BMW and VW respectively sank by 1.3% and 0.9% and electric upstart Energica was right on the average, 0.3% down. However, attractive yearly gains were led by Piaggio, stacking on almost 50%. VW and KTM also posted satisfactory improvements of about half as much.

On the other side of the developed world in Tokyo, it was business as usual over five days, although volume was under par. Strengthening yen value took the shine off many exporter stocks, pushing the Nikkei 225 index 0.8% lower. Kawasaki completely bucked that pessimism with a 7.2% upwards lunge while Suzuki clung on to an anaemic 0.3% increase. Yamaha and Honda stuck to the negative trend on respective 1.6% and 0.9% losses. The sharpest tip last January would have been Suzuki, which has grown in value by more than 60% over the year. Yamaha wasn’t far behind, knocking on the door of a 50% annual hike.

The Bombay Stock Exchange honoured its British Raj history with a lazy three-day week and its BSE Sensex yardstick barely moved, merely 0.1% down. Market leader Hero and TVS exceeded that cue with fairly trivial respective 0.2% and 0.6% dips. Bajaj added a tiny 0.1% and Eicher was 0.3% up. Mahindra was best performer, rising by 0.7% after a Santa-themed Christmas Eve tweet from its CEO Anand Mahindra hinting at an imminent relaunch of the BSA bike brand got national newspaper coverage. TVS clung on to status as brightest big-league annual earner, thanks to 115% growth.  

As for China, most biker stocks were positive after a fairly volatile week keeping normal hours. The three exceptions were Qianjiang, Zongshen and Jianshe, but their losses were pretty minimal. And Qianjiang remained the only Chinese motorcycle manufacturing investment really worth buying a year ago, 20% up. Apart from Guangzhou Auto keeping its head above water, all the rest were money losers.           

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

USA (US dollar)

Harley-Davidson    P 50.88  C -1.34%  R 63.40 - 44.52  Y -10.3%
Polaris    P 123.99  C -2.05%  R 134.66 - 77.91  Y +54.19%
Textron    P 56.59  C -0.72%  R 57.71 - 43.66  Y +16.72%
US Highland    P 0.0013  C +8.33%  R 0.0091 - 0.0003  Y +116.67%
Confederate    P 0.45  C +27.11%  R 0.51 - 0.03  Y +1012.5%

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 46.51  C -0.09%  R 50.05 - 25.32  Y +64.99%

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 21.40  C +1.18%  R 23.20 - 20.00  Y +8.66%

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

VIETNAM (Hong Kong dollar)

VMEPH    0.46  C -2.15%  R 0.61 - 0.43  Y -2.15%

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

INDONESIA (rupiah)

Astra    P 8300  C +3.11%  R 9350 - 7625  Y +2.26%
Indomobil    P 840  C -0.59%  R 1390 - 825  Y -35.6%

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 86.83  C -0.38%  R 91.76 - 77.07  Y +1.76%
VW    P 168.70  C -0.71%  R 175.40 - 127.50  Y +25.04%
KTM    P 6.35  C +0.79%  R 6.35 - 4.53  Y +25.25%
Piaggio    P 2.30  C -0.86%  R 2.86 - 1.45  Y +49.41%
Energica    P 3.09  C -0.26%  R 3.96 - 2.69  Y +6.19%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 549.98  C +0.13%  R 657.72 - 470.00  Y -5.99%
Pak Suzuki    P 500.00  C -0.23%  R 936.42 - 431.10  Y -19.48%

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

INDIA (rupee)

Hero    P 3785.15  C +1.84%  R 4200.00 - 2962.55  Y +27.43%
Bajaj    P 3333.60  C +1.17%  R 3385.00 - 2552.00  Y +29.2%
TVS    P 770.70  C +1.07%  R 792.85 - 347.80  Y +115.02%  
Eicher    P 30,340.85  C +1.7%  R 33,483.95 - 20,647.80  Y +39.62%
Mahindra    P 751.10  C +0.15%  R 785.70 - 583.95  Y +28%
LML    P 10.90  C -7.63%  R 14.50 - 7.10  Y -11.74%
Maharashtra    P 2760.70  C +0.58%  R 3450.00 - 1516.00  Y +73.95%
Scooters India    P 50.60  C +2.02%  R 75.95 - 34.70  Y +32.63%

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 3862  C -0.1%  R 3936 - 3000  Y +16.3%
Yamaha    P 3695  C +0.14%  R 3765 - 2287  Y +47.15%
Suzuki    P 6534  C -0.26%  R 6627 - 4068  Y +60.53%
Kawasaki    P 3955  C -0.13%  R 4095 - 3130  Y +9.26%

CHINA (yuan)

Qianjiang    P 19.90  C +2.84%  R 23.99 - 14.14  Y +20.2%
Zongshen    P 6.32  C +0.8%  R 9.77 - 6.17  Y -32.49%   
Sundiro    P 5.40  C +4.85%  R 8.47 - 5.03  Y -28.84%
Jialing    P 6.43  C N/A  R 12.01 - 5.33  Y N/A [Trading halted]
Lifan    P 7.26  C +0.28%  R 10.22 - 6.92  Y -23.59%
Loncin    P 7.02  C +0.86%  R 9.33 - 6.36  Y -13.39%
Linhai    P 9.72  C +0.83%  R 21.02 - 9.28  Y -48.49%
GAG    P 24.66  C +0.49%  R 30.01 - 22.52  Y +7.69%
CFMoto    P 26.66  C +0.34%  R 50.92 - 19.63  Y N/A

CHINA (Hong Kong dollar)

Jianshe    P 9.32  C -1.17%  R 13.85 - 7.67  Y -27.3%

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 6.55  C N/A  R 6.85 - 6.45  Y -0.73%
Hong Leong    P 9.69  C N/A  R 10.60 - 9.08  Y +7.76%

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

SOUTH KOREA (won)

KR    P 325  C N/A  R 1115 - 317  Y N/A
Daelim    P 82,400  C +2.49%  R 94,600 - 77,600  Y -5.4%

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.)