07 March – motorcycle industry share price guide

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 7 March 2014.

Investment analysts anticipated risk aversion sweeping through global markets in the past week, in response to what might turn out to be a resumption of Cold War in the Ukraine. In fact, only Europe suffered major jitters owing to its front-line status, with the Eurofirst 300 index nose-diving sharply.

Some uncertainty was visible as US equities trading opened on Monday but investors quickly shrugged it off gloom and the S&P 500 index hit a record high by Thursday. Acknowledging this feat with an amusing aside, one commentator reminded us of the S&P’s dramatic low point when the financial crisis was at its worst in March 2009. Six days into that month it hit rock-bottom on 666 — the number of the beast, as any Bible student, heavy-metal musicologist or outlaw biker knows. Whoops apocalypse?

Since its devil-digits moment, the S&P basket of stocks now averages a 182 per cent gain and the index closed on Friday at 1878. But it has been massively outperformed by Harley-Davidson over the same five-year period. After stacking on another couple of bucks during this week, you will note that Harley shares finished up worth $68.11 a piece on Friday — boasting a glorious improvement of 752 per cent on a $7.99 nadir in March 2009.

Elsewhere, we witnessed fairly unworried ebb-and-flow with only Japan’s Nikkei 225 perking up to a five-week pinnacle as the steadily weakening yen boosted investor sentiment. All four Japanese motorcycle manufacturers took sustenance from such resurgent confidence.     
                                  

Price (P) High (H) Low (L) Change (C) 52-week range (R) One-year return (Y)  
 

USA (US dollar)

Harley-Davidson    P 68.11  H 68.50  L 67.93  C +0.49%  R 70.04 – 49.15  Y +26.04%

Polaris    P 138.02  H 139.885  L 137.04  C -0.81%  R 146.99 – 83.195 Y +56.34%

Arctic Cat    P 49.14  H 50.10  L 48.92  C -0.26%  R 61.13 – 38.19  Y +17.29%

US Highland    P 0.27  H N/A  L N/A  C N/A  R 0.55 – 0.27  Y N/A

Viper    P 0.012  H 0.05  L 0.012  C +8.11%  R 0.10 – 0.001  Y -22.58%

Notes: Polaris makes ATVs, snowmobiles, Victory and Indian motorcycles. Arctic Cat makes ATVs and snowmobiles. US Highland makes a range of four-stroke dirt bikes. Viper Powersports produces the Diamondback Super Cruiser with a British-built 2490cc Ilmor engine.
 

CANADA (Canadian dollar)

BRP    P 30.00  H 30.17  L 29.92  C -0.07%  R 30.88 – 21.50  Y N/A

Notes: Bombardier Recreational Products makes Can-Am ATVs and Spyder road trikes, as well as Ski-Doo snowmobiles, Sea-Doo personal watercraft and Rotax engines for a range of applications including motorcycles.
 

EUROPE (euro)

BMW    P 82.06  H 83.62  L 81.71  C -0.97%  R 86.88 – 63.27  Y +17.99%

Piaggio    P 2.454  H 2.524  L 2.454  C +3.42%  R 2.54 – 1.83  Y +21.33%

KTM    P 72.50  H 72.50  L 72.50  C N/A  R 80.02 – 50.15  Y +33.5%

VW    P 180.00  H 183.45  L 179.538  C -1.2%  R 198.43 – 131.30  Y +15.26%

Notes: Volkswagen is the owner of Ducati Motor Holding
 

INDIA (rupee)

Hero    P 2008.95  H 2058.05  L 1986.65  C -0.15%  R 2214.70 – 1434.05  Y +20.94%

Bajaj    P 1954.70  H 2006.50  L 1947.00  C -0.16%  R 2195.00 – 1656.00  Y +0.37%

TVS    P 86.50  H 88.10  L 85.05  C -0.97%  R 89.35 – 28.10  Y +124.11%  

Eicher    P 5434.10  H 5580.00  L 5378.58  C -1.38%  R 5701.35 – 2501.00  Y +95.9%

Mahindra    P 983.55  H 991.95  L 951.55  C +2.95%  R 1025.87 – 740.15  Y +10.39%

Maharashtra    P 484.10  H 523.95  L 455.00  C +0.71%  R 545.90 – 305.00  Y +19.54%

Scooters India    P 15.15  H 15.20  L 15.15  C -4.72%  R 25.25 – 13.50  Y -39.03%

Notes: Hero MotoCorp is a former Honda JV partner. Bajaj has technical partnerships with KTM and Kawasaki. TVS is a former Suzuki JV partner. Bajaj and TVS also both export. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has a technical partnership with Taiwanese brand SYM and an own-brand motorcycle range. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj, which is also a substantial shareholder in the company. Scooters India manufactured Lambretta scooters until 1997 but now only makes Vikram three-wheeled taxis and light trucks. The Indian government has a majority stake.
 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 284.00  H 286.89  L 280.00  C +1.39%  R 299.00 – 136.80  Y N/A

Pak Suzuki    P 164.00  H 166.00  L 160.99  C +2.12%  R 174.00 – 96.60  Y N/A

Notes: Atlas Honda and Pak Suzuki are JV motorcycle assembly and distribution partners.
 

JAPAN (yen)

Honda    P 3810  H 3846  L 3802  C +0.37%  R 4405 – 3350  Y +6.27%

Yamaha    P 1567  H 1572  L 1540  C +2.42%  R 1825 – 1144  Y +34.53%

Suzuki    P 2745  H 2794  L 2725  C -0.72%  R 2982 – 2049  Y +21.46%

Kawasaki    P 418  H 424  L 416  C -0.24%  R 496 – 272  Y +44.53%
 

CHINA (yuan)

Qianjiang    P 5.85  H 5.97  L 5.78  C -1.35%  R 6.54 – 4.27  Y +27.57%

Qingqi    P 3.86  H 3.88  L 3.84  C +0.26%  R 5.19 – 3.34  Y N/A

Zongshen    P 5.02  H 5.21  L 4.99  C -2.71%  R 5.77 – 3.92  Y -8.99%   

Sundiro    P 4.08  H 4.14  L 3.86  C +2.77%  R 5.14 – 3.37  Y -14.91%

Jialing    P 3.77  H 3.81  L 3.70  C +0.53%  R 4.68 – 2.90  Y +1.62%  

Lifan    P 6.60  H 6.65  L 6.44  C +1.69%  R 7.64 – 5.11  Y -0.23%

Loncin    P 9.84  H 9.96  L 9.76  C +0.31%  R 11.10 – 6.78  Y +14.04%

Linhai    P 5.40  H 5.43  L 5.35  C +0.19%  R 6.30 – 4.42  Y -11.76%

CHINA (Hong Kong dollar)

Jianshe    P 5.64  H 5.67  L 5.60  C +0.36%  R 6.80 – 5.16  Y N/A  

Guangzhou Auto    P 7.01  H 7.21  L 6.91  C -0.99%  R 10.94 – 5.59  Y +9.37%

Notes: Qianjiang owns both the exported Keeway brand and the formerly Italian Benelli brand. Qingqi is a Suzuki JV partner, a Peugeot scooter contractor and also makes Qingqi and Sinnis branded bikes. Zongshen produces own-brand bikes and proprietary engines, and has JV partnerships with Piaggio, producing scooters, and Harley-Davidson, making parts. Sundiro is the biggest Honda JV bike partner in China. Jialing makes and exports own-brand bikes using Honda licensed technology and is a Honda JV power products partner. Lifan makes and exports own-brand bikes, and distributes MV Agusta products in China. Loncin is a Kawasaki JV partner and OEM engine contractor to BMW Motorrad. Linhai and Jianshe are Yamaha JV partners. Guangzhou Automobile Group is the parent of Honda JV partner and own-brand bike manufacturer Wuyang. It also has JV car production partnerships with Honda and Toyota.
 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.52  H 0.57  L 0.52  C -5.45%  R 0.87 – 0.45  Y –40.23%

Notes: Vietnam Manufacturing & Export Processing Holdings is the third-largest Vietnamese scooter and motorcycle manufacturer. It is a JV partnership with Taiwanese brand SYM. VMEPH is headquartered in Hong Kong and listed on both the HK and Taipei stock exchanges.
 

TAIWAN (Taiwanese dollar)

Sanyang    P 59.30  H 60.80  L 58.20  C -3.1%  R 63.00 – 23.50  Y +119.35%

Notes: Sanyang Industry is the leading Taiwanese powered two-wheeler manufacturer through its widely-exported SYM brand.
 

MALAYSIA (ringgit)

Oriental Holdings    P 7.25  H 7.35  L 7.20  C +1.12%  R 10.64 – 6.95  Y -16.57%

Hong Leong    P 6.53  H 6.53  L 6.46  C +0.62%  R 6.62 – 4.10  Y +56.08%

Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner and former owner of the German MZ concern.
 

INDONESIA (rupiah)

Astra    P 7000  H 7100  L 6975  C -0.36%  R 8300 – 5100  Y -13.09%

Notes: Astra International is a Honda JV partner.
 

SOUTH KOREA (won)

S&T    P 616  H 634  L 585  C -2.07%  R 689 – 414  Y +31.62%

Daelim    P 89,000  H 91,600  L 88,600  C -1.55%  R 110,000 – 69,900  Y -3.37%

Notes: S&T manufactures Hyosung-branded bikes and ATVs, exporting to the US, Europe including the UK and elsewhere. Daelim Industrial is a diversified conglomerate which retains a controlling 59 per cent stake in Daelim Motor, the largest motorcycle and scooter manufacturer in Korea.