A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 28 August 2015.
Once again, China was the source of multiple woes infecting stock markets worldwide at the beginning of the past week. Even the usually tight-lipped Chinese media dubbed what happened as “Black Monday” with share prices in Shanghai and Shenzhen falling off a cliff.
However, tumultuous trading by investors quickly calmed down almost everywhere else and most markets recovered by Friday. New York’s S&P 500 index finally posted a weekly rise of 0.81%, paralleled by improvements of 0.97% for the FTSE 100 in London and 0.56% for the Eurozone’s Eurofirst 300. US biking blue-chips Harley and Polaris rose tentatively, as did the German Big Three automotives, KTM and Piaggio in Europe.
However, Japan’s Nikkei 225 stayed in negative territory, down 1.54% week-on-week despite successive gains over the last three daily sessions. Yamaha and Suzuki climbed but Honda and Kawasaki dropped. India continued to suffer emerging-market nervousness. All of its large motorcycle manufacturers continued to lose ground. Worst affected was star turn Eicher, the Royal Enfield parent, which fell by 7.6%.
Chinese bike stocks swung widely after an initially dramatic plunge but were surging upwards on Friday. That didn’t overcome earlier losses, though. Five of the nine listed companies dropped by double-digit degrees week-on-week. Inevitably the worst was Zongshen, returning to the market after several weeks of price-protected trading suspension and promptly sinking by 25.5%. Sundiro, without an excuse, was close behind thanks to a 24.6% deficit. Linhai and Jianshe remain suspended.
Price (P) Daily change (C) 52-week range (R) One-year investment return (Y)
USA (US dollar)
Harley-Davidson P 56.64 C +0.11% R 70.41 – 50.64 Y -9.19%
Polaris P 131.22 C +0.44% R 159.33 – 119.96 Y -8.46%
Arctic Cat P 26.55 C +1.84% R 39.72 – 24.68 Y -27.14%
US Highland P 0.70 C N/A R 1.05 – 0.13 Y N/A
Viper P 0.0025 C N/A R 0.01 – 0.0025 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.
CANADA (Canadian dollar)
BRP P 26.96 C +1.93% R 29.80 – 20.67 Y +1.81%
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 20.40 C +0.74% R 31.60 – 19.15 Y -27.01%
Notes: Sanyang Motor (SYM) is the leading Taiwanese bike manufacturer.
VIETNAM (Hong Kong dollar)
VMEPH P 0.46 C +4.55% R 0.85 – 0.40 Y +8.24%
Notes: Vietnam Manufacturing & Export Processing Holdings, a JV partner of SYM, is the third-largest Vietnamese bike manufacturer.
INDONESIA (rupiah)
Astra P 5775 C -0.86% R 8575 – 5450 Y -21.37%
Indomobil P 2915 C -1.19% R 4600 – 2800 Y -33.56%
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 82.71 C -0.45% R 123.75 – 74.52 Y -4.15%
Daimler P 72.20 C +0.11% R 96.07 – 55.10 Y +19.56%
VW P 170.00 C -0.76% R 254.99 – 147.35 Y +2.19%
KTM P 113.00 C N/A R 141.00 – 95.00 Y +15.31%
Piaggio P 2.56 C -0.16% R 3.18 – 1.93 Y +14.07%
Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati and a 20% stake in Suzuki.
PAKISTAN (Pakistani rupee)
Atlas Honda P 335.37 C +3.62% R 409.00 – 235.00 Y N/A
Pak Suzuki P 430.00 C +0.8% R 493.00 – 225.00 Y N/A
Notes: Atlas Honda and Pak Suzuki are JV assembly partners.
INDIA (rupee)
Hero P 2398.60 C +0.87% R 3271.80 – 2251.30 Y -6.9%
Bajaj P 2279.55 C +4.2% R 2695.00 – 1912.50 Y +2.93%
TVS P 221.10 C -2.38% R 322.30 – 186.40 Y +19.42%
Eicher P 18,919.25 C +0.79% R 21,620.00 – 9775.00 Y +94.53%
Mahindra P 1233.95 C +0.3% R 1442.05 – 1102.00 Y -11.49%
Maharashtra P 1020.65 C -2.39% R 1200.00 – 742.55 Y +37.3%
Scooters India P 24.60 C +4.9% R 38.85 – 21.75 Y -3.15%
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 3859 C +4.81% R 4499 – 3239 Y +12.39%
Yamaha P 2401 C +7.81% R 3245 – 1803 Y +27.02%
Suzuki P 4151.5 C +5.22% R 4780.5 – 3011.5 Y +23.69%
Kawasaki P 471 C +5.31% R 647 – 384 Y +23.94%
CHINA (yuan)
Qianjiang P 7.67 C +8.03% R 17.11 – 5.55 Y +10.52%
Zongshen P 12.85 C +10.02% R 30.15 – 5.59 Y 126.49%
Sundiro P 5.80 C +9.02% R 12.69 – 4.32 Y +32.53%
Jialing P 8.77 C +10.04% R 16.34 – 5.27 Y +47.39%
Lifan P 10.37 C +7.91% R 27.99 – 8.11 Y +27.8%
Loncin P 19.24 C +8.81% R 39.48 – 12.82 Y +26.74%
Linhai P 13.37 C N/A R 14.29 – 7.78 Y N/A [Trading suspended]
Guangzhou Auto P 18.45 C +6.16% R 21.38 – 7.63 Y +134.22%
CHINA (Hong Kong dollar)
Jianshe P 11.38 C N/A R 19.99 – 6.19 Y N/A [Trading suspended]
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 is the parent of Honda JV partner and own-brand bike manufacturer Wuyang.
MALAYSIA (ringgit)
Oriental Holdings P 6.81 C +0.15% R 7.93 – 6.46 Y -11.98%
Hong Leong P 4.91 C -0.61% R 7.54 – 3.95 Y -20.77%
Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner.
SOUTH KOREA (won)
KR P 1045 C +0.48% R 1600 – 780 Y +22.94%
Daelim P 68,000 C +5.26% R 98,000 – 50,400 Y -22.08%
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.)