6 MAY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 6 May 2016.

Ongoing worries about sluggish US economic recovery were underlined by poor employment growth data for April released in the past week, massively under-performing consensus analyst forecasts. In response, New York’s S&P 500 index declined by 1.07% amid trading that was often choppier. Falling faster than official sentiment, American motorcycle blue-chips continued to bleed value for a second week. Harley-Davidson dropped by 3.8% and Polaris took a more severe 9.1% spanking.

Bad news from the US allied with concerns among European exporters about the economic health of their key Chinese market, driving the eurozone’s Eurofirst 300 downwards by 2.93%, its worst week for about three months. Unsurprisingly, the three German automotive giants with motorcycling sideshows (all of which need to go on selling a lot of cars to minted customers in China) suffered share price negativity. And gloom across Europe was pervasive. Piaggio, which should have benefited from up-beat quarterly financial results revealed during the week, nevertheless saw its shares drop by 6.2%.

The other big developed market in Japan was relatively unscathed because Tokyo’s Stock Exchange was closed for three days mid-week for more public holidays. But on Monday and when it reopened on Friday, pressure from a weakening US dollar pushing the yen ever higher still impinged on exporters. The Nikkei fell by 0.25% and all four indigenous bike producers posted week-on-week share declines despite mostly rallying a tad during that final session.

Powered two-wheelers weren’t flavour of the week in major emerging countries either. Shanghai’s Composite index lost 1.53% but listed Chinese motorcycle manufacturers tanked by a far more serious degree, dropping sharply on Friday in particular. In India, across-the-board losses were experienced by biking brands too, apart from a sole and notable exception. Basking in the glory of a best-ever annual financial performance by its main Royal Enfield business, Eicher shares rose.

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

USA (US dollar)

Harley-Davidson    P 45.99  C -0.5%  R 60.67 – 36.36  Y -17.44%

Polaris    P 88.97  C -4.08%  R 156.35 – 67.80  Y -36.61%

Arctic Cat    P 14.47  C -2.56%  R 36.00 – 8.90  Y -58.65%

US Highland    P 0.02  C -1.32%  R 1.05 – 0.01  Y N/A

Viper    P 0.0008  C N/A  R N/A  Y N/A 

Confederate    P 0.15  C N/A  R 0.33 – 0.08  Y N/A

Notes: Polaris makes Victory and Indian bikes, ATVs, snowmobiles, quadricycles and EVs. Arctic Cat makes ATVs and snowmobiles. US Highland makes off-road bikes. Viper Powersports makes the Diamondback Super Cruiser. Confederate Motors makes Combat Fighter cruisers.

CANADA (Canadian dollar)

BRP    P 19.23  C -1.89%  R 29.80 – 13.76  Y -28.96%

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

TAIWAN (Taiwanese dollar)

Sanyang    P 20.20  C N/A  R 27.10 – 19.15  Y -24.06%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.44  C +1.16%  R 0.85 – 0.36  Y -25%

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

INDONESIA (rupiah)

Astra    P 6650  C +0.76%  R 7950 – 4975  Y -7.48%

Indomobil    P 1820  C -0.27%  R 4100 – 1780  Y -53.79%

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 76.16  C +0.59%  R 110.30 – 65.99  Y -28.26%

Daimler    P 59.71  C +1.27%  R 91.00 – 57.01  Y -28.3%

VW    P 132.40  C +1.99%  R 234.00 – 95.00 Y -41.23%

KTM    P 122.60  C +0.08%  R 130.00 – 99.69  Y +4.27%

Piaggio    P 1.81  C -1.09%  R 3.18 – 1.56  Y -31.95%

Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati.

PAKISTAN (Pakistani rupee)

Atlas Honda    P 386.20  C +1.1%  R 414.80 – 320.05  Y N/A

Pak Suzuki    P 380.99  C +1.69%  R 532.00 – 371.00  Y N/A

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

INDIA (rupee)

Hero    P 2890.30  C -0.12%  R 3172.00 – 2251.30  Y +28.84%

Bajaj    P 2435.20  C -0.74%  R 2656.00 – 2006.95  Y +19.59%

TVS    P 300.42  C +1.43%  R 340.90 – 201.00  Y +37.4% 

Eicher    P 20,215.90  C +2.69%  R 21,620.00 – 14,494.95  Y +28.8%

Mahindra    P 1330.80  C +0.75%  R 1442.05 – 1091.25  Y +13.81%

Maharashtra    P 1231.60  C +1.25%  R 1619.00 – 852.25  Y +49.01%

Scooters India    P 24.50  C +0.62%  R 35.05 – 21.75  Y -16.38%

Notes: Hero MotoCorp is an own-brand 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 now BMW Motorrad contractor. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has an own-brand bike range and a majority stake in French scooter brand Peugeot. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj. Scooters India makes Vikram three-wheeled taxis and light trucks. The Indian government has a majority stake.

JAPAN (yen)

Honda    P 2951  C +2.7%  R 4499 – 2726  Y -27.73%

Yamaha    P 1766  C -0.45%  R 3245 – 1581  Y -36.7%

Suzuki    P 2903.5  C +1.54%  R 4780.5 – 2662.5  Y -24.13%

Kawasaki    P 306  C +0.33%  R 641 – 269  Y -47.45%

CHINA (yuan)

Qianjiang    P 11.72  C -5.02%  R 17.11 – 5.55  Y N/A

Zongshen    P 10.09  C -5.44%  R 30.15 – 8.08  Y -57.45%  

Sundiro    P 5.71  C N/A  R 12.69 – 4.89  Y N/A [Trading halted]

Jialing    P 7.38  C N/A  R 16.34 – 5.27  Y N/A [Trading halted]

Lifan    P 10.55  C -8.82%  R 27.99 – 8.05  Y -39.16%

Loncin    P 17.02  C -6.07%  R 39.48 – 13.00  Y -16.49%

Linhai    P 11.55  C -7.67%  R 14.71 – 8.41  Y -18.6%

GAG    P 23.20  C -0.22%  R 24.85 – 11.03  Y +101.93%

CHINA (Hong Kong dollar)

Jianshe    P 14.88  C -1.98%  R 19.99 – 7.72  Y +28.83%

Notes: Qianjiang owns Keeway and formerly Italian 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.

MALAYSIA (ringgit)

Oriental Holdings    P 6.86  C N/A  R 7.93 – 6.48  Y -10.43%

Hong Leong    P 7.20  C -0.96%  R 7.45 – 4.34  Y +59.01%

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

SOUTH KOREA (won)

KR    P 1180  C -1.67%  R 1770 – 905  Y -5.6%

Daelim    P 83,300  C -6.4%  R 98,000 – 59,600  Y +3.04%

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.)