A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 23 August 2024. BDN financial editor Roger Willis reports.
USA — INTEREST RATES TO FALL
Employing the Jackson Hole global economic symposium in Wyoming as his stage, US Federal Reserve chairman Jay Powell announced that inflation had been tamed sufficiently and he was finally now prepared to begin cutting interest rates. UK and European central bankers, who were also in attendance at the event, are expected to follow suit.
Understandably, a swathe of New York stock market indices signified approval for Powell’s decision with firm weekly gains. The blue-chip S&P 500 and Dow Jones Industrial Average respectively closed 1.4% and 1.3% up. S&P’s MidCap 400 climbed by a muscular 2.8%, the small-cap Russell 2000 surged by 3% and the previously weakened tech-heavy NASDAQ Composite put on 1.4%. Five of the six US powersport listings added value. Only Harley-Davidson’s LiveWire electric motorcycle spin-off registered a loss.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 38.13 | +4.4% | +7.3% |
| Polaris Industries | 86.51 | +4.6% | +4.6% |
| Textron | 89.91 | +2.2% | -1.7% |
| Ideanomics (Energica) | 0.32 | +18.5% | -40.7% |
| Niu Technologies | 1.84 | +0.5% | -9.8% |
| LiveWire | 6.57 | -1.5% | -16.7% |
EUROPE — SHARING THE SAME HYMN SHEET
Jackson Hole’s upbeat impact swiftly crossed the Atlantic and key European indices notched up consistent gains. Frankfurt’s Xetra Dax rose by 1.7%, matched by the Wiener Börse ATX in Austria. The Borsa Italiana FTSE MIB in Milan added 1.8%. All four motorcycle-related listings spanning these exchanges boasted useful gains. Austria’s KTM parent Pierer Mobility made the most impressive recovery.
| Currency: euro | Price | Week | Month |
| BMW | 84.46 | +3.3% | -3.5% |
| Volkswagen | 105.70 | +4.2% | -4% |
| Pierer Mobility | 28.80 | +9.9% | -5% |
| Piaggio Group | 2.62 | +3.1% | -3.7% |
JAPAN — KEEPING QUIET
Japanese central bankers, who had been largely responsible for the BoJ’s contribution to a recent global sell-off, remained silent on interest-rate issues. The Nikkei 225 index covering Tokyo and Osaka market action posted only a 0.8% rise. All four indigenous motorcycle manufacturing conglomerates suffered share-price negativity.
| Currency: yen | Price | Week | Month |
| Honda | 1578 | -0.4% | -0.2% |
| Yamaha | 1284.5 | -0.7% | -5.4% |
| Suzuki | 1683 | -3.4% | -0.2% |
| Kawasaki | 5011 | -0.9% | -6.5% |
INDIA — MUM’S THE WORD
The Bank of India’s still-high 6% anti-inflationary interest rate wasn’t a subject open for discussion and Mumbai market indices weren’t exactly energetic in their response either. S&P’s BSE Sensex 30 put on just 0.8% and the National Stock Exchange Nifty 50 managed a slightly better 1.1% increase. However, the three top-dog motorcycle-producing majors outpaced those averages considerably. But Royal Enfield parent Eicher’s gain was weak and Mahindra swallowed a loss.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 5384.90 | +5% | -1.7% |
| Bajaj Auto | 10406.45 | +5.2% | +9.6% |
| TVS Motor | 2767.00 | +6.4% | +10.3% |
| Eicher Motors | 4898.10 | +1.7% | -2.3% |
| Mahindra | 2759.00 | -2.9% | -4.5% |
CHINA — INVEST AT YOUR PERIL
Against a staggering economy and the ongoing slide of Chinese equities investment, nothing much changed. Shanghai’s SSE Composite index continued to drift downwards, losing 0.9%. The blue-chip CSI 300 on a Shanghai-Shenzhen axis dropped by 0.6%. Among China’s ten listed biker stocks, only Loncin managed to avoid negativity.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 14.23 | -1.9% | -5.7% |
| Zongshen | 11.32 | -6.4% | +1.5% |
| Sundiro | 2.85 | -1.4% | -5% |
| CETC (Jialing) | 10.13 | -3.9% | -4.3% |
| Lifan | 3.91 | -2.2% | -14.6% |
| Loncin | 6.21 | +5.8% | +4.7% |
| Linhai | 6.58 | -4.5% | -12.3% |
| Guangzhou Auto | 7.36 | -1.9% | -8% |
| CFMoto | 126.00 | -1.3% | -9.6% |
| Xinri E-Vehicle | 8.70 | -2.9% | -6.8% |