A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 18 October 2024. BDN financial editor Roger Willis reports.
USA — ECONOMIC RECOVERY REWARDED
A plethora of excellent third-quarter results from major Wall Street banks, hi-tech US manufacturers and leading mega-buck consumer brand of the Apple ilk continued to drive investor sentiment upwards, pushing New York stocks to fresh highs.
Market indices mounted to close comfortably positive, with S&P’s MidCap 400 in the lead, 1.4% up. The blue-chip S&P 500 added 0.9%, NASDAQ’s Composite put on 0.8% and the Dow Jones Industrial Average rose by 1%. Most US powersports share prices benefited. However, NASDAQ-listed electric bikers took a hammering. The abrupt bankruptcy of its star turn, Italian sparky superbike manufacturer Energica, saw Ideanomics plunge in value. And Chinese electric delivery scooter champion Niu also suffered yet another a sell-off.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 36.20 | +4.1% | -6.2% |
| Polaris Industries | 82.55 | +2% | -2.1% |
| Textron | 90.16 | +2.5% | +2.6% |
| Ideanomics (ex-Energica) | 0.12 | -40% | N/A |
| Niu Technologies | 2.42 | -8.7% | +28.7% |
| LiveWire | 6.37 | +2.7% | +2.7% |
EUROPE — INTEREST RATE BOOSTER
The European Central Bank cut eurozone interest rates by 0.25 percentage points to 3.25%, thus elevating ket market indices. Frankfurt’s Xetra Dax and the FTSE MIB in Milan respectively climbed by 1.5% and 2.6% as investors cheered. However, the four automotives with motorcycling presences we cover floundered as their Q3 results loomed. Worst afflicted was Austria’s KTM, Husqvarna, GasGas and MV Agusta parent Pierer Mobility, which is still reeling from its half-year collapse in profitability.
| Currency: euro | Price | Week | Month |
| BMW | 75.10 | -0.9% | +1.9% |
| Volkswagen | 95.90 | -0.9% | +0.2% |
| Pierer Mobility | 20.30 | -14.3% | -21.9% |
| Piaggio Group | 2.47 | -2.4% | -6.1% |
JAPAN — SOBERING MOOD
Japanese corporate sentiment waned as the release of half-year and Q3 reports became increasingly imminent. The key Tokyo/Osaka Nikkei 225 stock index fell by 1.6% as gloom spread. Among the four big indigenous motorcycle-associated brands, only Yamaha — which is now three quarters of the way through its untypically calendar-based fiscal year — displayed a glimmer of positivity.
| Currency: yen | Price | Week | Month |
| Honda | 1533 | -1.6% | -1.5% |
| Yamaha | 1351.5 | +0.9% | +6.6% |
| Suzuki | 1496 | -6.1% | -6% |
| Kawasaki | 6441 | -0.9% | +19% |
INDIA — CASHING IN THEIR CHIPS?
Mumbai’s two key market indices, S&P’s BSE Sensex 30 and the NSE Nifty 50, were stuck in a third consecutive week of negative trading, with respective losses of 0.2% and 0.4%. Among the five major Indian motorcycle manufacturers, only Royal Enfield parent Eicher managed to escape a share price decline. Speculative profit-taking was almost certainly responsible for Bajaj Auto’s sharp sell-off after several months of rampant gains.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 5216.20 | -4.7% | -13.3% |
| Bajaj Auto | 10063.95 | -15.3% | -15.7% |
| TVS Motor | 2715.90 | -2.8% | -3.5% |
| Eicher Motors | 4765.65 | +0.8% | -4% |
| Mahindra | 2964.25 | -5.4% | +0.5% |
CHINA — LAST MINUTE SAVIOUR
Chinese stocks suddenly recovered in volatile trading sessions, after a face-saving and damage-limitation weekend press conference exercise from the Beijing government’s finance ministry. This finally announced some realistic details of plans to stimulate China’s struggling economy. Market indices evidenced the bounce-back. Shanghai’s SSE Composite put on 1.4% and the blue-chip Shanghai/Shenzhen CSI 300 rose by 1%. Many biker stocks had been able to hang onto much of their gains accrued in the previous rally.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 18.03 | +0.7% | +6.4% |
| Zongshen | 17.18 | +24.2% | +44.1% |
| Sundiro | 3.68 | +4% | +22.3% |
| CETC (Jialing) | 14.38 | +13.3% | +26.8% |
| Lifan | 4.71 | -2.1% | +19.5% |
| Loncin | 8.12 | +7% | +16.2% |
| Linhai | 8.90 | -1.4% | +17.1% |
| Guangzhou Auto Group | 8.10 | -1.3% | +10.4% |
| CFMoto | 155.38 | -1.5% | +4.1% |
| Xinri E-Vehicle | 10.70 | N/A | +8% |