24 JULY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 24 July 2015.

New York’s S&P 500 index was reportedly knocked by a swathe of disappointing quarterly corporate earnings statements, falling over the week by 1.63%. But the impact of quarterly figures wasn’t always logical. After Harley-Davidson admitted a drop in revenue and profit on Tuesday, its stock actually achieved an impressive 4.7% weekly gain — although decline had begun to set in on Friday. That rise allegedly occurred because the bad news was actually better than analysts had anticipated. Conversely, Polaris came out with excellent data on Wednesday and was inexplicably punished, finishing up 8.3% down.

Negativity blamed on a broadly similar excuses afflicted Europe too. The Eurofirst 300 dropped by 2.77% and all three big German automotives with bike interests took a spanking, despite having yet to reveal their numbers. BMW dropped by 5.2%, Daimler by 3.3% and VW by 6.9%. Weaker economic data from China, where they are all profit-dependent, may have had something to do with that. However, life was brighter for KTM on the Wiener Borse in Austria, where strong half-yearly results announced the previous week elicited a further price rise. Piaggio also put on a bit, up by 1.3% in Milan.

Downward trends were also visible moving eastwards around the world. In India, only market leader Hero and Mahindra bucked a losing streak among that nation’s listed motorcycle manufacturers. And all four Japanese bike brands sank in parallel with Tokyo’s Nikkei 225 index.

China’s government-bankrolled stock market recovery continued for a third successive week but showed signs of faltering. Although the Shanghai Composite ended 2.9% up on the week, it dropped by 1.3% on Friday and is still 21.3% down on a June peak before the bubble burst. All bike producers with shares still trading made relatively modest advances compared with recent seesaw swings but the number of absentees climbed again. Zongshen and Linhai have now both been hiding behind stock trading suspensions for several weeks now. Then they were rejoined by Loncin, which had its trading halted for the rest of the week on Tuesday after a 9.8% surge on Monday. Yamaha partner Jianshe, with Chinese state holding company China South Industries as its majority shareholder anyway, suffered the same fate on Wednesday after gaining 5.6% over the preceding two days.        

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

USA (US dollar)

Harley-Davidson    P 57.57  C -1.17%  R 70.41 – 53.04  Y -8.26%

Polaris    P 139.65  C -2.44%  R 159.33 – 134.54  Y -4.62%

Arctic Cat    P 29.00  C -1.39%  R 39.72 – 26.00  Y -17.28%

US Highland    P 0.70  C N/A  R 1.05 – 0.13  Y N/A

Viper    P 0.0040  C +14.29%  R 0.01 – 0.0035  Y -27.27%

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 27.84  C -2.35%  R 29.80 – 20.67  Y +4.66%

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 22.25  C +0.45%  R 32.45 – 21.85  Y -29.92%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.56  C -3.45%  R 0.85 – 0.40  Y +31.76%

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

INDONESIA (rupiah)

Astra    P 6650  C -3.27%  R 8575 – 6325  Y -11.22%

Indomobil    P 3500  C N/A  R 4600 – 3050  Y -22.69%

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 90.73  C -2.63%  R 123.75 – 74.74  Y -1.15%

Daimler    P 81.88  C -1.75%  R 96.07 – 55.10  Y +28.22%

VW    P 188.74  C -4.75%  R 254.99 – 147.35  Y +7.98%

KTM    P 119.90  C +1.22%  R 141.00 – 83.00  Y +27.79%

Piaggio    P 3.07  C -1.35%  R 3.18 – 1.93  Y +37.34%

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 345.00  C +0.88%  R 409.00 – 209.00  Y N/A

Pak Suzuki    P 438.00  C -0.24%  R 469.00 – 225.00  Y N/A

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

INDIA (rupee)

Hero    P 2740.40  C +0.84%  R 3271.80 – 2251.30  Y +8.86%

Bajaj    P 2497.35  C +0.33%  R 2695.00 – 1912.50  Y +21.25%

TVS    P 251.55  C -4.39%  R 322.30 – 141.10  Y +77.08% 

Eicher    P 20,113.85  C -2.07%  R 21,620.00 – 8162.15  Y +134.98%

Mahindra    P 1329.70  C -2.15%  R 1433.70 – 1102.00  Y +10.87%

Maharashtra    P 1123.45  C -1.46%  R 1200.00 – 681.25  Y +64.62%

Scooters India    P 25.75  C +4.46%  R 38.85 – 21.75  Y -14.02%

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. 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 3896.5  C -0.71%  R 4400 – 3239  Y +11.56%

Yamaha    P 2686  C +0.11%  R 3245 – 1702  Y +54.27%

Suzuki    P 4160.5  C -0.19%  R 4435 – 3011.5  Y +25.35%

Kawasaki    P 549  C -1.08%  R 647 – 369  Y +38.38%

CHINA (yuan)

Qianjiang    P 8.95  C -2.29%  R 17.11 – 5.55  Y +45.75%

Zongshen    P 17.25  C N/A  R 30.15 – 4.67  Y N/A  [Trading suspended]  

Sundiro    P 7.97  C -1.97%  R 12.69 – 4.31  Y +79.67%

Jialing    P 11.06  C +7.9%  R 16.34 – 5.27  Y +79.25% 

Lifan    P 14.60  C -2.01%  R 27.99 – 8.11  Y 80.28%

Loncin    P 28.90  C +3.1%  R 39.48 – 10.71  Y +164.58% [Trading suspended]

Linhai    P 13.37  C N/A  R 14.29 – 6.95  Y N/A [Trading suspended]

Guangzhou Auto    P 19.20  C +5.96%  R 19.54 – 7.63  Y +144.66%

CHINA (Hong Kong dollar)

Jianshe    P 11.38  C +5.27%  R 19.99 – 5.93  Y +91.26% [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 7.26  C -0.27%  R 7.94 – 6.46  Y -4.1%

Hong Leong    P 4.55  C +1.11%  R 7.54 – 3.95  Y -16.47%

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

SOUTH KOREA (won)

KR    P 1150  C -0.86%  R 1600 – 780  Y +11.11%

Daelim    P 72,500  C -12.33%  R 98,000 – 50,400  Y -17.21%

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.)