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Share prices

08/01/2018

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 5 January 2018. BDN financial editor Roger Willis reports.

The first week of 2018 started late, owing to a drying-out day off after New Year celebrations in drinking countries, and then produced an impressively upbeat equities rally across key developed-world markets. Plenty of 2017 exit data indicating that the global economy was in reasonably robust health and bullishness spread through investors accordingly.

In New York, Wall Street’s S&P 500 index soared by 2.3% to a record high, ignoring December’s lacklustre US employment growth figures. ATV maker Textron was happily on the shiny side of that average, 3.4% up. Polaris managed a thinner 1% improvement while Harley-Davidson barely moved, rising by just 0.2%.

Automotives, including motorcycle manufacturers, led the way in Europe as a similarly-induced stock investment appetite boosted the eurozone’s Eurofirst 300 index by 2.1% to its best weekly close for several months. KTM claimed top spot with a muscular 6.1% gain. Volkswagen was in hot pursuit, 5.9% up. BMW trailed its German rival and the market average, climbing by a more modest 1.8%. In Italy, Piaggio beat the median thanks to a 2.2% increase. But its loss-making compatriot, electric bike brand Energica, put on only a feeble 0.6%.

Japanese sentiment went ballistic. Tokyo’s Nikkei 225 rose by 4.2% to its dizziest peak since 1992. Although the banking sector provided principal driver, motorcycling performance certainly wasn’t shabby. Yamaha surged ahead of the index, adding 5.8%. Honda was nearly there on a 4.1% hike. Suzuki and Kawasaki posted respective 3.2% and 3% advances.

Big emerging Asian markets were mixed. Having taken a holiday on 1 January, despite not actually celebrating China’s own Lunar New Year until 16 Februrary, the Chinese were as bullish as their Western counterparts and Shanghai’s SSE Composite index stacked on 2.9%. Six listed bike producers followed that cue to a greater or lesser extent. The exceptions were Loncin, CFMoto and Jianshe. However, their losses were slight. Jialing has continued to languish in regulatory suspension since late October last year.

India went the other way and its BSE Sensex staggered upwards by a mere 0.3% due to poor mid-week trading. All four indigenous motorcycling majors suffered falling share prices. Eicher took the worst hit, 3.6% down. Bajaj lost 1.6% and Hero 1.1%. TVS got off lightly with a 0.5% decline.      

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

USA (US dollar)

Harley-Davidson    P 50.97  C N/A  R 63.40 - 44.52  Y -11.29%
Polaris    P 125.19  C -3.16%  R 134.66 - 77.91  Y +48.18%
Textron    P 58.50  C +1.6%  R 58.51 - 43.66  Y +17.52%
US Highland    P 0.0014  C +16.67%  R 0.0091 - 0.0003  Y +180%
Confederate    P 0.48  C N/A  R 0.51 - 0.03  Y N/A

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 47.01  C +1.01%  R 50.05 - 25.32  Y +64.33%

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 21.35  C +0.47%  R 23.20 - 20.00  Y +8.67%

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

VIETNAM (Hong Kong dollar)

VMEPH    0.47  C +1.08%  R 0.61 - 0.43  Y +2.17%

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

INDONESIA (rupiah)

Astra    P 8300  C +0.91%  R 9350 - 7625  Y +4.15%
Indomobil    P 835  C +1.21%  R 1390 - 825  Y -35.49%

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 88.36  C +0.84%  R 91.06 - 77.07  Y +1.67%
VW    P 178.70  C +2.35%  R 179.40 - 127.50  Y +26.78%
KTM    P 6.74  C +5.31%  R 6.74 - 4.53  Y +30.87%
Piaggio    P 2.35  C +0.26%  R 2.86 - 1.45  Y +49.84%
Energica    P 3.11  C -0.32%  R 3.96 - 2.85  Y -5.76%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 567.00  C +5%  R 657.72 - 470.00  Y -6.9%
Pak Suzuki    P 513.99  C +3.61%  R 936.42 - 431.10  Y -17.3%

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

INDIA (rupee)

Hero    P 3744.65  C +0.15%  R 4200.00 - 3012.95  Y +24.91%
Bajaj    P 3279.85  C +0.47%  R 3385.00 - 2681.50  Y +22.86%
TVS    P 766.95  C +0.05%  R 794.90 - 375.50  Y +100.46%  
Eicher    P 29,237.00  C +2.33%  R 33,483.95 - 22,156.05  Y +31.4%
Mahindra    P 756.35  C +0.05%  R 785.70 - 588.67  Y +24.42%
LML    P 9.85  C -2.96%  R 14.50 - 7.10  Y -27.31%
Maharashtra    P 2853.95  C +4.17%  R 3450.00 - 1567.30  Y +82.14%
Scooters India    P 56.95  C +4.3%  R 75.95 - 36.55  Y +46.21%

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 4021  C +0.88%  R 4054 - 3000  Y +15.87%
Yamaha    P 3910  C +2.76%  R 3915 - 2287  Y +52.51%
Suzuki    P 6740  C -0.03%  R 6775 - 4133  Y +59.17%
Kawasaki    P 4075  C +1.62%  R 4095 - 3130  Y +10.76%

CHINA (yuan)

Qianjiang    P 20.21  C +0.05%  R 23.99 - 14.14  Y +19.63%
Zongshen    P 6.41  C +0.47%  R 9.77 - 6.17  Y -32.11%   
Sundiro    P 5.63  C -0.18%  R 8.47 - 5.03  Y -29.69%
Jialing    P 6.43  C N/A  R 12.01 - 5.33  Y N/A [Trading halted]
Lifan    P 7.31  C +0.27%  R 10.22 - 6.92  Y -24.17%
Loncin    P 6.96  C +1.16%  R 9.33 - 6.36  Y -16.78%
Linhai    P 9.74  C +0.21%  R 20.08 - 9.28  Y -49.95%
GAG    P 24.94  C -0.6%  R 30.01 - 22.52  Y +9.01%
CFMoto    P 26.38  C +0.11%  R 50.92 - 19.63  Y N/A

CHINA (Hong Kong dollar)

Jianshe    P 9.28  C -0.75%  R 13.85 - 7.67  Y -27.89%

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 6.52  C -0.15%  R 6.83 - 6.45  Y -1.04%
Hong Leong    P 9.71  C N/A  R 10.60 - 9.08  Y +4.32%

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

SOUTH KOREA (won)

KR    P 325  C -2.11%  R 1115 - 317  Y N/A
Daelim    P 84,200  C -0.59%  R 94,600 - 77,600  Y -3.66%

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.)