A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 30 August 2013.
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For once, BMW’s share price has dipped in response to partly motorcycle-related issues. Widespread reporting at the end of August of a global car and bike parts distribution log-jam thanks to wonky new computer software was to blame. In the final week of the month it fell by more than five per cent.
Most international analysts’ eyes are on India at the moment, though, as that huge country’s economic woes deepen. With growth shrivelling, inflation running at ten per cent, the value of the rupee against the US dollar plunging by 13 per cent over the past three months and the Bombay Stock Exchange Sensex 30 index down by about 25 per cent over the same period, it’s hardly a hot prospect.
However, shares in Indian bike manufacturers chasing export markets, who will benefit considerably from the rupee’s record low, are now bucking this negative trend. Investors are piling back into leading indigenous players Hero MotoCorp and Bajaj Auto, along with Bajaj affiliate Maharashtra Scooters and Royal Enfield parent Eicher Motors, pushing their prices up.
Price (P) High (H) Low (L) Change (C) 52-week range (R) One-year return (Y)
USA (US dollar)
Harley-Davidson P 59.98 H 60.32 L 59.77 C -0.03% R 60.32 – 40.59 Y +45.04%
Polaris P 109.21 H 111.35 L 108.85 C -1.7% R 116.65 – 73.67 Y +47.79%
Arctic Cat P 53.68 H 55.56 L 53.41 C -2.98% R 58.26 – 32.12 Y +24.59%
US Highland P 0.30 H N/A L N/A C N/A R 1.01 – 0.25 Y -74.79%
Viper P 0.028 H 0.029 L 0.02 C N/A R 0.30 – 0.015 Y -90.67%
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 29.48 H 29.49 L 28.90 C +5.4% R 29.50 – 21.50 Y N/A
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.
EUROPE (euro)
BMW P 71.39 H 72.69 L 71.08 C -1.07% R 76.16 – 54.35 Y +27.86%
Piaggio P 1.95 H 1.97 L 1.945 C -0.61% R 2.28 – 1.702 Y +2.76%
KTM P 56.50 H 57.00 L 56.40 C N/A R 57.19 – 43.00 Y +30.04%
VW P 167.90 H 171.25 L 167.562 C -1.74% R 181.65 – 122.25 Y +32.94%
Notes: Volkswagen is the owner of Ducati Motor Holding
INDIA (rupee)
Hero P 2046.50 H 2075.00 L 1941.00 C +3.71% R 2075.00 – 1434.05 Y +16.08%
Bajaj P 1837.00 H 1855.00 L 1707.15 C +5.55% R 2229.00 – 1597.50 Y +16.32%
TVS P 30.65 H 30.95 L 29.95 C +0.33% R 50.25 – 28.10 Y -18.42%
Eicher P 3189.80 H 3222.45 L 3105.60 C +1.18% R 3980.00 – 2049.05 Y +49.79%
Mahindra P 783.25 H 801.05 L 768.50 C -1.38% R 1025.87 – 700.60 Y +4.16%
Maharashtra P 371.85 H 375.00 L 368.00 C +2.13% R 555.00 – 305.00 Y +13.36%
Scooters India P 15.60 H 15.60 L 15.60 C -10.86% R 42.05 – 13.50 Y -43.07%
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. Maharashta 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 198.00 H 200.00 L 198.00 C +1.89% R 228.00 – 102.12 Y N/A
Pak Suzuki P 141.00 H 141.01 L 138.02 C -1.97% R 161.91 – 81.70 Y N/A
Notes: Atlas Honda and Pak Suzuki are JV motorcycle assembly and distribution partners.
JAPAN (yen)
Honda P 3545 H 3620 L 3540 C -0.98% R 4405 – 2294 Y +47.01%
Yamaha P 1277 H 1305 L 1273 C +0.47% R 1825 – 642 Y +90.88%
Suzuki P 2112 H 2173 L 2094 C +0.38% R 2919 – 1354 Y +49.38%
Kawasaki P 344 H 355 L 344 C -0.86% R 401 – 151 Y +110.66%
CHINA (yuan)
Qianjiang P 4.79 H 4.93 L 4.78 C -2.24% R 5.75 – 3.65 Y +24.34%
Zongshen P 4.79 H 4.86 L 4.73 C -1.03% R 6.27 – 4.35 Y -10.92%
Sundiro P 3.84 H 4.02 L 3.83 C -1.54% R 5.35 – 3.37 Y -18.58%
Jialing P 3.93 H N/A L N/A C N/A R 4.68 – 2.35 Y N/A [Trading suspended]
Lifan P 6.00 H 6.20 L 5.98 C -1.32% R 7.38 – 5.11 Y -0.74%
Loncin P 7.72 H 7.89 L 7.70 C -2.15% R 11.06 – 6.28 Y -4.66%
Linhai P 5.22 H 5.50 L 5.16 C -2.61% R 6.59 – 4.42 Y +2.96%
CHINA (Hong Kong dollar)
Jianshe P 1.28 H N/A L N/A Change N/A R N/A Y N/A [Trading suspended]
Guangzhou Auto P 7.91 H 7.95 L 7.63 C +2.59% R 9.15 – 4.75 Y +49.38%
Notes: Qianjiang owns both the exported Keeway brand and the formerly Italian Benelli brand. 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.
VIETNAM (Hong Kong dollar)
VMEPH P 0.455 H 0.465 L 0.455 C -3.19% R 0.95 – 0.45 Y –46.47%
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 41.50 H 43.65 L 40.55 C +1.72% R 43.65 – 16.75 Y +121.04%
Notes: Sanyang Industry is the leading Taiwanese powered two-wheeler manufacturer through its widely-exported SYM brand.
MALAYSIA (ringgit)
Oriental Holdings P 8.24 H 8.28 L 8.06 C +1.85% R 10.64 – 7.62 Y +6.77%
Hong Leong P 5.10 H 5.10 L 5.00 C +2.41% R 5.68 – 3.98 Y +15.29%
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 6050 H 6150 L 5900 C +3.42% R 8300 – 5100 Y -7.74%
Notes: Astra International is a Honda JV partner.
SOUTH KOREA (won)
S&T P 520 H 533 L 520 C -1.52% R 746 – 414 Y -6.14%
Daelim P 87,500 H 88,900 L 87,300 C -0.46% R 105,000 – 66,900 Y -0.88%
Notes: 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.