A snapshot of bike and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 5 May 2023. BDN financial editor Roger Willis reports.
USA — BANKS FOR THE MEMORY
The prospect of yet another US bank failure — PacWest Bancorp potentially following First Republic, Signature and Silicon Valley Bank into multi-billion-dollar oblivion — kept American investors on their toes. Wall Street financial giants were covertly intervening to prop up mid-ranking bank share prices, ensure liquidity and discourage contagion, which at least helped PacWest to rebound as the weekend approached.
Nevertheless, most New York indices finished in negative territory, with just the tech-heavy NASDAQ Composite staying shiny side up by a measly 0.1%. The blue-chip S&P 500 and Dow Jones Industrial Average copped respective 0.8% and 1.2% losses. S&P’s MidCap 400 also fell by 1.2%, reflecting further retreats for MidCap-listed petrolhead powersports stocks led by Harley-Davidson. On NASDAQ, Energica electric superbike parent Ideanomics eased itself away from the brink with a merciful doubling of minimalist value.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 35.44 | -4.5% | -2.9% |
| Polaris Industries | 105.24 | -3.1% | +2.3% |
| Textron | 66.15 | -1.2% | -2.3% |
| Ideanomics (Energica) | 0.043 | +7.5% | -57% |
| Niu Technologies | 3.59 | -3.5% | -2.2% |
| LiveWire | 7.67 | -1% | +18.9% |
EUROPE — TEMPERING THE MOOD
As anticipated by canny observers, the European Central Bank hiked its base interest rate mid-week, adding a quarter-point to hit 3.25% and asserting this wasn’t the last of planned anti-inflationary measures. However, reaction by markets was subdued thanks to a swathe of good Q1 results from big automotives. Frankfurt’s Dax Performance index closed a narrow 0.2% up while the FTSE MIB in Milan put on 1%.
BMW’s share price got the most benefit, on the back of muscular numbers from both four and two-wheeled operations. And VW Group took succour from the excellent contributions of its premium niche brands — Ducati, Lamborghini and Bentley. In Italy, Piaggio’s splendid Q1 results release came too late on Friday to have much immediate impact.
| Currency: euro | Price | Week | Month |
| BMW | 107.54 | +6% | +9% |
| Volkswagen | 153.00 | +0.7% | +0.2% |
| Pierer Mobility | 75.40 | -2.1% | -4.1% |
| Piaggio Group | 3.79 | +1.6% | -6.7% |
JAPAN — PATIENCE IS A VIRTUE
Resurgent Japanese market confidence was put on hold somewhat, owing to a seriously shortened trading week punctuated by public holidays, but Tokyo’s Nikkei 225 index still managed a 1% gain. With full-year reports for Honda, Suzuki and Kawasaki now imminent, along with Q1 numbers from Yamaha, investors are patiently anticipating upbeat answers. So all four of them made relatively modest equity gains.
| Currency: yen | Price | Week | Month |
| Honda | 3621 | +0.9% | +4.1% |
| Yamaha | 3505 | +0.1% | +6.2% |
| Suzuki | 4782 | +1.8% | +2.6% |
| Kawasaki | 2984 | +1.6% | +4.3% |
INDIA — WAITING GAME
Although Mumbai’s BSE Sensex market average slumped to marginal 0.1% negativity, Indian analysts apparently hold mixed views of motorcycle industry promise, as they await full-year numbers too. The key driver has to be that swathe of monthly advances, with Bajaj, TVS and Eicher all enjoying double-digit percentage capitalisation improvements.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 2547.25 | -0.4% | +5.1% |
| Bajaj Auto | 4463.10 | +0.7% | +10.7% |
| TVS Motor | 1214.95 | +6.7% | +10.8% |
| Eicher Motors | 3355.10 | +1.6% | +13.2% |
| Mahindra | 1211.20 | -1.3% | +3.3% |
CHINA — HOLIDAY HANGOVER
With only two trading sessions on Thursday and Friday, after China’s Golden Week holiday break, flatlining market indices suggested trivial trading volumes. Shanghai’s all-share SSE Composite rose by just 0.3% while the blue-chip CSI 300 retreated by 0.3%. Eight of the eleven listed Chinese motorcycle manufacturers were on the back foot. Benelli parent Qianjiang incurred the biggest loss.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 19.45 | -9.2% | -12.6% |
| Zongshen | 6.55 | +1.4% | -1.4% |
| Sundiro | 2.37 | +8.2% | +8.7% |
| CETC (Jialing) | 13.62 | -2.7% | -18.8% |
| Lifan | 3.51 | -0.6% | -4.4% |
| Loncin | 4.76 | -0.8% | -4.8% |
| Linhai | 8.45 | +1.4% | +0.2% |
| Guangzhou Auto | 10.43 | -2% | -5.7% |
| CFMoto | 133.39 | -2% | +7.9% |
| Xinri E-Vehicle | 17.56 | -2% | -10.1% |
| Currency: HK dollar | Price | Week | Month |
| Jianshe | 4.43 | -6.5% | -3.5% |