A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 13 September 2024. BDN financial editor Roger Willis reports.
USA — ANOTHER FALSE ALARM
New York’s latest knee-jerk reaction to rumours of an imminent economic slowdown was shelved quite rapidly. And by the time investors embraced a contrarily lucky Friday 13th, Wall Street market indices were on track for their best week this year.
Tech-heavy NASDAQ Composite stocks led the way, closing a rampant 5.9% up. The blue-chip S&P 500 added 4% and S&P’s Midcap 400 finished 3.2% higher. The Dow Jones Industrial Average was more tempered, on a 2.6% gain. NYSE-listed MidCap powersports stocks — Harley-Davidson, Polaris, Textron and Harley’s LiveWire spin-off — all accrued value. Rare NASDAQ electric biker dunces Ideanomics and Niu missed the boat.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 37.74 | +3.5% | +3.4% |
| Polaris Industries | 81.60 | +2.9% | -1.4% |
| Textron | 87.70 | +2.3% | -0.3% |
| Ideanomics (Energica) | 0.20 | -23.1% | -25.9% |
| Niu Technologies | 1.79 | -1.1% | -2.2% |
| LiveWire | 6.76 | +23.6% | +1.3% |
EUROPE — RATE REDUCTION WELCOME
The European Central Bank cut its base interest rate by a quarter percentage point, pleasing eurozone investors and boosting market indices by tentative degrees. Frankfurt’s Xetra Dax led the Teutonic field to finish on a 2.2% advance. But the benefits for German automotives with motorcycling interests were mixed. The Wiener Börse ATX in Austria added just 0.6% and Austrian KTM parent Pierer’s shares flatlined. The Borsa Italiana FTSE MIB managed a modest 0.8% increase, which was cheerfully outpaced by indigenous scooter giant Piaggio.
| Currency: euro | Price | Week | Month |
| BMW | 73.32 | -6.2% | -10.3% |
| Volkswagen | 98.75 | +2.3% | -2.6% |
| Pierer Mobility | 27.20 | N/A | +3.8% |
| Piaggio Group | 2.66 | +1.9% | +4.7% |
JAPAN — CAREFUL WITH THOSE YEN
Tokyo and Osaka’s Nikkei 225 market index was slow to react when the US mood suddenly improved, posting a pathetic 0.5% recovery from the previous week’s panic. Japanese investors appeared decidedly selective in their punts. Among biker-related stocks, Yamaha and Kawasaki prospered but Honda and Suzuki were ongoing sell-off victims.
| Currency: yen | Price | Week | Month |
| Honda | 1472 | -3.6% | -7.1% |
| Yamaha | 1248.5 | +1.4% | -3.4% |
| Suzuki | 1527.5 | -2.9% | -12.3% |
| Kawasaki | 4918 | +4.8% | -2.7% |
INDIA — DEALS ON WHEELS
Mumbai market indices snapped into action, as S&P’s BSE Sensex 30 and the National Stock Exchange Nifty 50 respectively stacked on 2.1% and 2% weekly gains. All five major Indian motorcycle manufacturers were positive but Bajaj was most definitely leader of the pack. Output of the baby Triumphs it now churns out in spades must be exceeding targets.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 5795.80 | +0.9% | +13% |
| Bajaj Auto | 11737.15 | +8.4% | +18.7% |
| TVS Motor | 2828.65 | +2.8% | +8.8% |
| Eicher Motors | 4858.30 | +2.2% | +0.8% |
| Mahindra | 2739.10 | +1.5% | -3.6% |
CHINA — LIES, DAMN LIES AND STATISTICS
The Economist published a detailed indictment of the Chinese government’s utterly fabricated official data, which is now purely contrived to conceal the lamentable state of its economy. Official claims that China’s GDP growth rate has reverted to a pre-pandemic level were described as “risible” by one expert observer. “The GDP data have stopped bearing any resemblance to economic reality,” he opined.
Local investors, who now longer dare to open their mouths, are now simply voting with their feet, as successive sell-offs hammer stock market values. In the past week, Shanghai’s SSE Composite and the allegedly blue-chip CSI 300 indices fell in unison by 2.2%. However, the ten listed Chinese motorcycle manufacturer share prices tracked by BDN, which bounce up and down like the proverbial stripper’s knickers, enjoyed a relatively tame treatment on this occasion — only three of them copping losses.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 16.39 | +5.8% | +12.9% |
| Zongshen | 11.43 | -0.2% | -5.5% |
| Sundiro | 3.17 | +7.1% | +9.7% |
| CETC (Jialing) | 10.14 | +1.9% | -3.8% |
| Lifan | 3.96 | +3.9% | -1% |
| Loncin | 6.88 | +2.4% | +17.2% |
| Linhai | 7.45 | +4.5% | +8.1% |
| Guangzhou Auto | 7.15 | -3.1% | -4.7% |
| CFMoto | 143.89 | +8.3% | +12.7% |
| Xinri E-Vehicle | 9.69 | -1.7% | +8.1% |