A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday, 12 May 2023. BDN financial editor Roger Willis reports.
USA — DOOM AND GLOOM
Fresh data revealed US consumer sentiment had slumped to its lowest level this year, as domestic economic activity slowed, while the American regional banking sector’s woes continued to spook investors, pushed most Wall Street market indices into negative territory once again. Troubled PacWest Bancorp — the latest victim — admitted losing almost a tenth of its deposits in the first week of May, as the lender’s stock value plunged.
A pervasive sense of déjà vu now hangs over New York. The blue-chip S&P 500 and Dow Jones Industrial Average finished respectively 0.3% and 1.1% down, marginally better than the previous week. But S&P’s MidCap 400 repeated a 1.2% slide. The tech-dominated NASDAQ Composite once again clung to marginal positivity, 0.4% up. Petrolhead biker listings, with Harley-Davidson worst performer, all lost ground. Battery-electric challengers suffered more. Harley’s LiveWire BEV offering took the hardest knock.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 33.67 | -5% | -9.2% |
| Polaris Industries | 104.11 | -1.1% | -3.5% |
| Textron | 63.29 | -4.3% | -7.7% |
| Ideanomics (Energica) | 0.04 | -7% | -50% |
| Niu Technologies | 3.35 | -6.7% | -10.2% |
| LiveWire | 7.12 | -7.2% | +9.5% |
EUROPE — PROPERTY SECTOR WEAKENS
Following a year of aggressive counter-inflationary European Central Bank interest rate rises, real-estate investments throughout the eurozone are becoming a poison chalice, exerting new pressure on market indices. Germany’s Dax Performance yardstick in Frankfurt turned sour by 0.3% and the Wiener Börse ATV in adjacent Austria registered a 1.2% loss. Italian sentiment, as expressed by the FTSE MIB in Milan, flatlined.
For automotive stocks with motorcycling connections, contagion from under-performing property stocks quickly tarnished the brief benefit accrued by their good Q1 corporate results. Piaggio, delivering the latest of these, got no respite whatsoever.
| Currency: euro | Price | Week | Month |
| BMW | 99.33 | -7.6% | -4.2% |
| Volkswagen | 148.00 | -3.3% | -5.7% |
| Pierer Mobility | 75.00 | -0.5% | -6.2% |
| Piaggio Group | 3.61 | -4.7% | -10.2% |
JAPAN — VICTOR TAKES SPOILS
Japanese confidence was boosted by some muscular full-year results, and Tokyo’s Nikkei 225 index rose again, this time by 0.8%. Honda was a prominent star of the show, proving that two wheels are always good when it comes to solid profits. However, although the motorcycle business of Kawasaki Heavy Industries also prospered, distinctly downbeat forecasts in developed markets for its new fiscal year robbed KHI of any glory.
| Currency: yen | Price | Week | Month |
| Honda | 3741 | +3.3% | +7.6% |
| Yamaha | 3465 | -1.1% | +2.5% |
| Suzuki | 4845 | +1.3% | +4.2% |
| Kawasaki | 2753 | -7.7% | -4.4% |
INDIA — FLAVOUR OF THE WEEK
Mumbai’s BSE Sensex market average put on a healthy 1.6% and motorcycle stocks clearly enjoyed “buy” status across the board. Royal Enfield parent Eicher led the field by a considerable margin
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 2605.90 | +2.3% | +6.5% |
| Bajaj Auto | 4538.90 | +1.7% | +5.8% |
| TVS Motor | 1237.45 | +1.9% | +6.4% |
| Eicher Motors | 3626.35 | +8.1% | +12.9% |
| Mahindra | 1275.95 | +5.3% | +5.9% |
CHINA — CHEAP BUT NOT SO CHEERFUL
Factory-gate price deflation has become the latest economic disease afflicting China’s post-Covid recovery, with widespread analyst reports of stuttering demand, in particular relating to export orders. Key market indices, therefore, took a kicking in the past week. Shanghai’s all-share SSE Composite fell by 1.9% and the blue-chip CSI 300 closed 2% down.
However, biker stocks remained remarkably immune from direct impact. Only three — Benelli parent Qianjiang, Honda JV affiliate Sundiro and BMW Motorrad contract supplier Loncin — copped stock value retreats.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 19.19 | -1.3% | -14.5% |
| Zongshen | 6.65 | +1.5% | +3.1% |
| Sundiro | 2.29 | -3.4% | +3.6% |
| CETC (Jialing) | 14.03 | +3% | -12.9% |
| Lifan | 3.57 | +1.7% | +0.6% |
| Loncin | 4.74 | -0.4% | -3.5% |
| Linhai | 8.67 | +2.6% | +4.1% |
| Guangzhou Auto | 10.61 | +1.7% | -3.9% |
| CFMoto | 135.72 | +1.7% | -1.5% |
| Xinri E-Vehicle | 17.95 | +2.2% | -4.8% |
| Currency: HK dollar | Price | Week | Month |
| Jianshe | 4.56 | +2.9% | -5.2% |