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1 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 1 April 2016.

A good-news week in America kicked off with US Federal Reserve supremo Janet Yellen suggesting that interest rates aren’t likely to increase any time soon and ended with further upbeat jobs growth figures for March. In parallel, Wall Street’s S&P 500 index resumed an upwards track, rising by 1.31%.

Polaris stock managed only an anaemic 0.4% weekly improvement, possibly because investors were sniffy about its latest rip-snorting Indian Scout being thoroughly outclassed by a clunky old BSA triple in Guy Martin’s Wall of Death world record speed challenge on Monday. Or possibly not. Harley-Davidson also thoroughly outclassed both Polaris and S&P in the equities department, posting an impressive 7.9% share price surge to comfortably climb back above the 50-buck mark — territory which it hasn’t graced since October last year.

In sharp contrast, Europe was dragged down by gloom, as markets entered the second quarter with oil prices falling again following revelations that Saudi Arabia wasn’t going to join an output freeze. The eurozone’s Eurofirst 300 index declined by 0.79% and all five motorcycle-related European listings dropped accordingly.

The developed world’s main Far Eastern outpost in Japan was a miserable place too after announcement of a distinctly negative business sentiment survey reflecting ongoing yen currency strength consequences for exporters. Tokyo’s Nikkei 225 plummeted by 4.93% in response. And without exception, the four Japanese bike brands suffered sliding share prices.

Emerging markets were more mixed and tentative. Although the BSE Sensex 30 in Bombay was just on the wrong side of flat, 0.27% down, an overwhelming majority of Indian bike producers bucked that trend with modest rises. Mahindra was sole player to let the side down. In China, where the Shanghai Composite was 0.98% up, there were five winners, some by far more muscular margins. But Zongshen and Loncin lost some ground.

        

Price (P) Daily change (C) 52-week range (R) One-year investment return (Y) 

 

USA (US dollar)

Harley-Davidson    P 51.66  C +0.64%  R 62.96 – 36.36  Y -13.07%

Polaris    P 98.31  C -0.17%  R 156.35 – 67.80  Y -29.54%

Arctic Cat    P 16.74  C -0.36%  R 39.00 – 8.90  Y -53.61%

US Highland    P 0.08  C N/A  R 1.05 – 0.06  Y N/A

Viper    P 0.0008  C N/A  R N/A  Y N/A 

Confederate    P 0.15  C N/A  R 0.33 – 0.08  Y N/A

Notes: Polaris makes Victory and Indian bikes, ATVs, snowmobiles, quadricycles and EVs. Arctic Cat makes ATVs and snowmobiles. US Highland makes off-road bikes. Viper Powersports makes the Diamondback Super Cruiser. Confederate Motors makes Combat Fighter cruisers.

 

CANADA (Canadian dollar)

BRP    P 20.50  C +5.51%  R 29.80 – 13.76  Y -12.84%

Notes: Bombardier Recreational Products makes Can-Am ATVs, Spyder road trikes, Ski-Doo snowmobiles, Sea-Doo PWCs and Rotax proprietary engines.

 

TAIWAN (Taiwanese dollar)

Sanyang    P 21.10  C -1.86%  R 28.75 – 19.15  Y -20.97%

Notes: Sanyang Motor (SYM) is the leading Taiwanese bike manufacturer.

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.43  C N/A  R 0.85 – 0.36  Y -6.59%

Notes: Vietnam Manufacturing & Export Processing Holdings, a JV partner of SYM, is the third-largest Vietnamese bike manufacturer.

 

INDONESIA (rupiah)

Astra    P 7325  C +1.03%  R 8275 – 4975  Y -6.23%

Indomobil    P 1950  C N/A  R 4200 – 1860  Y -47.29%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is British conglomerate Jardine Matheson. Indomobil Sukses Internasional is a Suzuki JV partner.

 

EUROPE (euro)

BMW    P 78.50  C -2.74%  R 117.90 – 65.99  Y -30.04%

Daimler    P 66.41  C -1.57%  R 92.70 – 57.01  Y -24.36%

VW    P 123.64  C -2.98%  R 245.30 – 95.00  Y -46.95%

KTM    P 123.95  C +1.18%  R 131.50 – 99.69  Y -1.94%

Piaggio    P 1.85  C -0.7%  R 3.18 – 1.56  Y -34.84%

Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati.

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 376.00  C -0.53%  R 414.80 – 320.05  Y N/A

Pak Suzuki    P 415.00  C +0.79%  R 532.00 – 349.00  Y N/A

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

 

INDIA (rupee)

Hero    P 2951.05  C +0.18%  R 2985.95 – 2251.30  Y +13.95%

Bajaj    P 2419.85  C +0.58%  R 2656.00 – 1912.50  Y +24.91%

TVS    P 324.55  C +0.54%  R 329.50 – 201.00  Y +29.12% 

Eicher    P 19,254.05  C +0.38%  R 21,620.00 – 13,900.10  Y +20.85%

Mahindra    P 1195.20  C -1.28%  R 1442.05 – 1091.25  Y +0.36%

Maharashtra    P 1238.60  C +1.16%  R 1619.00 – 826.10  Y +48.24%

Scooters India    P 25.65  C -0.39%  R 35.05 – 21.75  Y -3.21%

Notes: Hero MotoCorp is an own-brand former Honda JV partner. Bajaj has a major shareholding in KTM and ties with it and Kawasaki. TVS is a former Suzuki JV partner and now BMW Motorrad contractor. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has an own-brand bike range and a majority stake in French scooter brand Peugeot. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj. Scooters India makes Vikram three-wheeled taxis and light trucks. The Indian government has a majority stake.

 

JAPAN (yen)

Honda    P 2942  C -4.67%  R 4499 – 2726  Y -24.56%

Yamaha    P 1796  C -4.06%  R 3245 – 1593  Y -38.65%

Suzuki    P 2859  C -5.05%  R 4780.5 – 2662.5  Y -21.28%

Kawasaki    P 310  C -4.62%  R 647 – 269  Y -47.46%

 

CHINA (yuan)

Qianjiang    P 12.56  C +9.98  R 17.11 – 5.55  Y +38.02%

Zongshen    P 10.07  C -1.76%  R 30.15 – 8.08  Y -44.51%  

Sundiro    P 5.71  C N/A  R 12.69 – 4.89  Y N/A [Trading halted]

Jialing    P 7.38  C N/A  R 16.34 – 5.27  Y N/A [Trading halted]

Lifan    P 12.19  C +1.84%  R 27.99 – 8.05  Y -7.88%

Loncin    P 18.10  C -1.9%  R 39.48 – 13.00  Y -4.78%

Linhai    P 10.79  C -0.55%  R 14.71 – 8.41  Y -12.28%

GAG    P 20.61  C -0.05%  R 24.85 – 10.05  Y +96.89%

 

CHINA (Hong Kong dollar)

Jianshe    P 15.57  C +0.58%  R 19.99 – 7.72  Y +84.04%

Notes: Qianjiang owns Keeway and formerly Italian Benelli. Zongshen makes own-brand bikes and proprietary engines, and has JV partnerships with Piaggio, (scooters), and Harley-Davidson (parts). Sundiro is a Honda JV partner. Jialing makes own-brand bikes using Honda licensed technology. Lifan makes own-brand bikes and distributes MV Agusta 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 (GAG) is the parent of Honda JV partner and own-brand bike manufacturer Wuyang.

 

MALAYSIA (ringgit)

Oriental Holdings    P 6.84  C -1.01%  R 7.93 – 6.48  Y +4.88%

Hong Leong    P 6.80  C -0.29%  R 7.05 – 4.40  Y +61.28%

Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner.

 

SOUTH KOREA (won)

KR    P 1145  C +0.44%  R 1770 – 905  Y -23.41%

Daelim    P 87,500  C -3.74%  R 98,000 – 59,600  Y +31.77%

Notes: KR Motors makes Hyosung bikes and ATVs. Daelim Industrial retains a controlling 59% stake in Daelim Motor, the largest bike manufacturer in Korea. (The remainder is British, owned by Standard Chartered Bank.)

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