A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 2 August 2013.
TICKER TAPE
US markets were really hot to trot last week with both the Dow and S&P 500 indices closing on record highs. For motorcycle stocks this was best-reflected by Harley-Davidson finishing up only a buck short of its peak in the past year and Polaris touching a record high during Friday’s trading. The reason is surging investor confidence in overall American economic recovery, stoking optimism for even-stronger growth in the second half of 2013.
In stark contrast, every single motorcycle-related company quoted on the Bombay Stock Exchange suffered share price slides week-on-week as gloom surrounding the Indian economy deepens. At the top end, Royal Enfield owner Eicher — regarded as a high-return “blue chip” in local terms — took an unexpected bashing with a fall of about six per cent. And Bajaj, India’s most significant bike exporter currently cashing in on the rupee’s weakness, suffered a fate of similar proportions.
Price (P) High (H) Low (L) Change (C) 52-week range (R) One-year return (Y)
USA (US dollar)
Harley-Davidson P 58.60 H 58.84 L 58.12 C +0.27% R 59.84 – 40.59 Y +40.27%
Polaris P 115.07 H 115.64 L 111.26 C -0.04% R 115.64 – 72.20 Y +57.18%
Arctic Cat P 56.89 H 57.31 L 56.25 C +1.12% R 57.31 – 32.12 Y +29.02%
US Highland P 0.30 H N/A L N/A C N/A R 1.50 – 0.25 Y N/A
Viper P 0.045 H 0.045 L 0.045 C N/A R 0.30 – 0.015 Y -80.43%
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 27.77 H 28.70 L 27.11 C -0.82% R 28.88 – 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 72.45 H 73.50 L 72.07 C -1.19% R 76.16 – 54.35 Y +28.71%
Piaggio P 2.122 H 2.122 L 2.08 C -1.12% R 2.28 – 1.702 Y +13.52%
KTM P 52.00 H 52.00 L 52.00 C +0.97% R 57.19 – 43.00 Y +19.96%
VW P 174.204 H 176.00 L 172.486 C -0.52% R 176.00 – 122.25 Y +35.83%
Notes: Volkswagen is the owner of Ducati Motor Holding
INDIA (rupee)
Hero P 1801.80 H 1850.00 L 1777.80 C -0.73% R 1989.45 – 1434.05 Y -5.91%
Bajaj P 1909.25 H 1949.00 L 1890.20 C +1.27% R 2229.00 – 1595.50 Y +21.4%
TVS P 31.25 H 31.80 L 29.90 C +1.46% R 50.25 – 28.10 Y -14.73%
Eicher P 3497.20 H 3535.00 L 3427.00 C +0.73% R 3980.00 – 1935.00 Y +76.69%
Mahindra P 854.75 H 878.00 L 849.95 C -1.92% R 1025.87 – 680.36 Y +26.67%
Maharashtra P 367.05 H 370.00 L 360.00 C -0.96% R 555.00 – 305.00 Y +11.74%
Scooters India P 15.00 H 15.10 L 15.00 C +2.74% R 42.05 – 14.60 Y -42.86%
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 202.65 H 205.67 L 198.00 C -2.45% R 228.00 – 95.60 Y +110%
Pak Suzuki P 150.88 H 152.50 L 150.00 C -0.53% R 161.91 – 81.70 Y +54.93%
Notes: Atlas Honda and Pak Suzuki are JV motorcycle assembly and distribution partners.
JAPAN (yen)
Honda P 3710 H 3710 L 3650 C +2.91% R 4405 – 2294 Y +58.27%
Yamaha P 1475 H 1475 L 1425 C +5.96% R 1825 – 625 Y +137.75%
Suzuki P 2569 H 2594 L 2505 C +5.81% R 2919 – 1354 Y +77.47%
Kawasaki P 375 H 376 L 368 C +081% R 401 – 151 Y +121.63%
CHINA (yuan)
Qianjiang P 5.13 H 5.20 L 5.11 C -0.39% R 5.75 – 3.65 Y +31.83%
Zongshen P 4.66 H 4.77 L 4.64 C -1.06% R 6.27 – 4.35 Y -17.73%
Sundiro P 3.54 H 3.58 L 3.51 C +0.28% R 5.35 – 3.37 Y -26.17%
Jialing P 3.93 H N/A L N/A C N/A R 4.68 – 2.14 Y N/A [Trading suspended]
Lifan P 5.52 H 5.59 L 5.46 C +1.1% R 7.38 – 5.11 Y -10.68%
Loncin P 8.28 H 8.33 L 8.12 C +0.49% R 13.60 – 6.28 Y N/A
Linhai P 4.90 H 4.96 L 4.83 C -0.2% R 6.59 – 4.42 Y -3.35%
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 7.63 H 7.68 L 7.51 C +0.53% R 9.15 – 4.75 Y +44.09%
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 0.52 H 0.54 L 0.50 C +4% R 0.95 – 0.48 Y –40.23%
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 30.05 H 30.30 L 30.05 C -0.66% R 30.45 – 16.75 Y +54.9%
Notes: Sanyang Industry is the leading Taiwanese powered two-wheeler manufacturer through its widely-exported SYM brand.
MALAYSIA (ringgit)
Oriental Holdings P 9.88 H 10.00 L 9.46 C +0.3% R 10.64 – 7.52 Y +31.53%
Hong Leong P 5.49 H 5.50 L 5.30 C +3.58% R 5.50 – 3.90 Y +48.55%
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 6700 H 6800 L 6600 C -0.74% R 8300 – 6150 Y -1.48%
Notes: Astra International is a Honda JV partner.
SOUTH KOREA (won)
S&T P 462 H 467 L 458 C +0.22% R 746 – 414 Y -16.61%
Daelim P 88,200 H 90,600 L 87,400 C -1.89% R 105,000 – 66,900 Y +2.69%
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.