27 JUNE — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICE GUIDE
A snapshot of global bike and ATV industry share performance at the trading closure on Friday 27 June 2014.
Wall Street indices were downbeat owing to decidely mixed reports of US economic performance in the second quarter. The benchmark S&P 500 closed with a 0.5 per cent weekly loss. This was only reflected in Harley’s share price, which fell modestly. But that could be related to sniffy investor views of its surprise electric bike launch — a machine mysteriously monikered as the Livewire rather than an all-American “Old Sparky”. Polaris, which didn’t plug in, actually added value.
European stocks remained fairly steady, according to the Eurofirst 300 index, with little price movement from motorcycle-related companies. KTM was the exception, surging up to an all-time high. That had sweet FA to do with economic indicators, however. Look for the latest speculative rumour about a privatised market exit instead.
India was a far happier place with virtually all of its listed powered two-wheeler producers flaunting weekly price gains. TVS proudly retained is status as star turn, stacking on another 12 per cent during the week.
It was pretty much the same story in China, even though the Hang Seng and Shanghai Composite indices were flat. Nine out of ten listed bike manufacturers across the Shanghai, Shenzhen and Hong Kong exchanges showed improvements. Benelli parent Qianjiang was the red-hot stock, with an extremely muscular 17 per cent weekly growth.
For misery, look to Japan, where government initiatives to promote higher inflation have stalled. The Nikkei 225 reversed a run of five consecutive weekly gains to plunge by just over two per cent, dragging the Big Four Japanese bike brands downwards.
Price (P) High (H) Low (L) Change (C) 52-week range (R) One-year return (Y)
USA (US dollar)
Harley-Davidson P 69.40 H 69.72 L 69.11 C +0.27% R 74.13 – 53.35 Y +28.45%
Polaris P 129.75 H 130.09 L 128.62 C +0.63% R 146.99 – 94.49 Y +38.53%
Arctic Cat P 39.34 H 39.43 L 38.40 C +1.65% R 61.13 – 31.95 Y -11.74%
US Highland P 0.35 H 0.35 L 0.35 C -22.22% R 0.59 – 0.22 Y N/A
Viper P 0.013 H 0.013 L 0.012 C N/A R 0.06 – 0.001 Y N/A
Notes: Polaris makes ATVs, snowmobiles, Victory and Indian motorcycles. Arctic Cat makes ATVs and snowmobiles. US Highland makes a range of four-stroke dirt bikes. Viper Powersports produces the Diamondback Super Cruiser with a British-built 2490cc Ilmor engine.
CANADA (Canadian dollar)
BRP P 26.11 H 26.25 L 26.00 C -0.11% R 31.98 – 24.50 Y +6.57%
Notes: Bombardier Recreational Products makes Can-Am ATVs and Spyder road trikes, as well as Ski-Doo snowmobiles, Sea-Doo personal watercraft and Rotax engines for a range of applications including motorcycles — most recently Buell’s EBR superbike.
EUROPE (euro)
BMW P 92.47 H 92.87 L 91.92 C -0.27% R 94.39 – 64.44 Y +41.61%
Piaggio P 2.536 H 2.626 L 2.536 C -3.21% R 3.092 – 1.871 Y +27.37%
KTM P 90.00 H 90.00 L 89.72 C +3.44% R 90.00 – 50.15 Y +72.75%
VW P 188.84 H 190.00 L 188.25 C +0.01% R 198.43 – 145.85 Y +28.7%
Notes: Volkswagen is the owner of Ducati Motor Holding
INDIA (rupee)
Hero P 2622.90 H 2654.00 L 2610.00 C -0.91% R 2787.70 – 1635.20 Y +62.71%
Bajaj P 2309.10 H 2318.00 L 2272.15 C +0.88% R 2320.00 – 1680.05 Y +22.9%
TVS P 161.25 H 164.45 L 147.10 C +9.17% R 164.45 – 28.10 Y +400.97%
Eicher P 7728.90 H 7775.00 L 7400.00 C +4.45% R 7775.00 – 2965.00 Y +137.15%
Mahindra P 1153.50 H 1176.20 L 1148.10 C -1.9% R 1278.70 – 740.15 Y +20.61%
Maharashtra P 653.35 H 662.00 L 640.15 C +1.34% R 665.75 – 326.65 Y +66.73%
Scooters India P 30.30 H 31.05 L 29.70 C +0.5% R 36.75 – 13.50 Y +61.6%
Notes: Hero MotoCorp is a former Honda JV partner. Bajaj has technical partnerships with KTM and Kawasaki. TVS is a former Suzuki JV partner. Bajaj and TVS also both export. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has a technical partnership with Taiwanese brand SYM and an own-brand motorcycle range. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj, which is also a substantial shareholder in the company. Scooters India manufactured Lambretta scooters until 1997 but now only makes Vikram three-wheeled taxis and light trucks. The Indian government has a majority stake.
PAKISTAN (Pakistani rupee)
Atlas Honda P 220.50 H 227.00 L 220.50 C -0.68% R 328.00 – 180.11 Y N/A
Pak Suzuki P 256.72 H 256.72 L 244.15 C +5% R 256.72 – 119.00 Y N/A
Notes: Atlas Honda and Pak Suzuki are JV motorcycle assembly and distribution partners.
JAPAN (yen)
Honda P 3522 H 3540 L 3500 C -0.31% R 4385 – 3292 Y -2.28%
Yamaha P 1696 H 1722 L 1686 C -0.12% R 1783 – 1240 Y +34.34%
Suzuki P 3186 H 3235 L 3175 C -1.06% R 3246 – 2054 Y +40.62%
Kawasaki P 382 H 391 L 381 C -2.8% R 496 – 300 Y +27.26%
CHINA (yuan)
Qianjiang P 6.75 H 6.86 L 6.23 C +6.3% R 6.86 – 4.34 Y +51.69%
Qingqi P 3.87 H 3.87 L 3.75 C +0.52% R 5.19 – 3.34 Y N/A
Zongshen P 4.50 H 4.56 L 4.48 C -0.22% R 5.77 – 3.92 Y -3.68%
Sundiro P 3.89 H 3.92 L 3.85 C -0.26% R 4.40 – 3.37 Y +4.85%
Jialing P 4.91 H 5.00 L 4.65 C +4.25% R 5.69 – 2.90 Y N/A
Lifan P 6.64 H 6.70 L 6.59 C +0.91% R 7.64 – 5.22 Y +26%
Loncin P 8.78 H 8.84 L 8.59 C +1.15% R 11.10 – 6.78 Y +26.27%
Linhai P 6.39 H 6.42 L 6.31 C N/A R 7.00 – 4.42 Y +36.83%
CHINA (Hong Kong dollar)
Jianshe P 5.71 H 5.77 L 5.70 C -0.52% R 6.80 – 5.16 Y N/A
Guangzhou Auto P 8.83 H 8.87 L 8.60 C +0.57% R 10.94 – 6.48 Y +21.98%
Notes: Qianjiang owns both the exported Keeway brand and the formerly Italian Benelli brand. Qingqi is a Suzuki JV partner, a Peugeot scooter contractor and also makes Qingqi and Sinnis branded bikes. Zongshen produces own-brand bikes and proprietary engines, and has JV partnerships with Piaggio, producing scooters, and Harley-Davidson, making parts. Sundiro is the biggest Honda JV bike partner in China. Jialing makes and exports own-brand bikes using Honda licensed technology and is a Honda JV power products partner. Lifan makes and exports own-brand bikes, and distributes MV Agusta products 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 is the parent of Honda JV partner and own-brand bike manufacturer Wuyang. It also has JV car production partnerships with Honda and Toyota.
VIETNAM (Hong Kong dollar)
VMEPH P 0.43 H 0.435 L 0.43 C -2.27% R 0.66 – 0.40 Y –17.31%
Notes: Vietnam Manufacturing & Export Processing Holdings is the third-largest Vietnamese scooter and motorcycle manufacturer. It is a JV partnership with Taiwanese brand SYM. VMEPH is headquartered in Hong Kong and listed on both the HK and Taipei stock exchanges.
TAIWAN (Taiwanese dollar)
Sanyang P 30.30 H 31.05 L 30.20 C -1.62% R 63.00 – 25.20 Y +10.06%
Notes: Sanyang Industry is the leading Taiwanese powered two-wheeler manufacturer through its widely-exported SYM brand.
MALAYSIA (ringgit)
Oriental Holdings P 7.73 H 7.79 L 7.72 C -0.51% R 10.04 – 6.95 Y -20.85%
Hong Leong P 6.64 H 6.70 L 6.64 C -0.75% R 7.00 – 4.50 Y +53.16%
Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner and former owner of the German MZ concern.
INDONESIA (rupiah)
Astra P 7350 H 7350 L 7225 C +1.73% R 8050 – 5100 Y +8.12%
Notes: Astra International is a Honda JV partner. Its controlling shareholder is Jardine Matheson Holdings, a British-managed conglomerate domiciled in Hong Kong.
SOUTH KOREA (won)
KR P 1185 H 1195 L 1160 C -0.42% R 1495 – 425 Y +165.1%
Daelim P 83,400 H 83,900 L 80,700 C +2.46% R 110,000 – 77,000 Y -3.81%
Notes: KR Motors (formerly S&T) manufactures Hyosung-branded bikes and ATVs, exporting to the US, Europe including the UK and elsewhere. Daelim Industrial is a diversified conglomerate which retains a controlling 59 per cent stake in Daelim Motor, the largest motorcycle and scooter manufacturer in Korea. (The remainder is British-owned, by the private equity arm of Standard Chartered Bank.)