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HomeNEWSFINANCIAL1 August - motorcycle industry share price guide

1 August – motorcycle industry share price guide

A pretty grim week for western stock markets opened in the US where speculation that the Federal Reserve was likely to put up interest rates soon kickstarted repeated sell-offs. New York’s key S&P 500 index suffered its worst week for more than two years, finishing three per cent down. This affected stocks across the board, including Harley and Polaris — respectively 3.1 per cent and 1.1 per cent below their previous Friday close.

Wall Street jitters quickly spread across the Atlantic, compounded by further revelations about eurozone economic weakness, tightening sanctions on trade with Russia and Portugal’s largest bank continuing to teeter on the brink of oblivion. The FTSE Eurofirst 300 sank by 2.9 per cent and three of the four listed European motorcycle manufacturers dutifully followed that trend. The exception was KTM, which exists in a parallel universe populated by investors fascinated by the prospect of a profitable windfall if it ever goes private. Its share price touched an all-time peak during the week and ended 4.6 per cent better off.

Gloom wasn’t only confined to the US and Europe. It certainly spread to India as the dollar rose against the rupee, sparking another sell-off. The Bombay Stock Exchange’s Sensex 30 index plummeted on Friday and most local bike producers felt the pain with weekly share price slides. Only Hero and TVS were unscathed among the big league.

However, Japan remained calm and investors clearly concentrated on reading quarterly financial reports. Consequently the Nikkei 225 barely moved, only a marginal 0.42 per cent down week-on-week. Both Honda and Suzuki benefited from good overall results (even though their motorcycle operations under-performed) and investors piled in to push up share prices. Kawasaki fell back after some gains following its results announcement and Yamaha declined, presumably because analysts were circumspect about the content of its report in the forthcoming week.

As for China, the majority of motorcycle manufacturers remained winners throughout the week, although there was evidence of a sell-off starting to gather pace on Friday.                  

 


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


USA (US dollar)

Harley-Davidson    P 61.98  H 62.39  L 61.41  C +0.26%  R 74.13 – 57.30  Y +7.31%

Polaris    P 146.84  H 149.08  L 145.06  C -0.47%  R 151.00 – 108.68  Y +62.31%

Arctic Cat    P 35.01  H 35.74  L 34.54  C -1.66%  R 61.13 – 31.95  Y -37.9%

US Highland    P 0.51  H 0.51  L 0.51  C +2%  R 0.59 – 0.22  Y N/A

Viper    P 0.0055  H N/A  L N/A  C N/A  R 0.05 – 0.001  Y -87.78%

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 25.65  H 26.49  L 25.65  C -1.46%  R 31.98 – 25.10  Y +5.56%

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 — most recently Buell’s EBR superbike.
 


EUROPE (euro)

BMW    P 87.35  H 89.46  L 86.88  C -1.57%  R 96.10 – 70.07  Y +24.19%

Piaggio    P 2.20  H 2.23  L 2.174  C -1.35%  R 3.092 – 1.912  Y +3.68%

KTM    P 99.41  H 99.41  L 99.41  C +3.55%  R 99.83 – 52.00  Y +93.45%

VW    P 170.079  H 181.80  L 178.69  C -1.27%  R 198.43 – 162.00  Y +10.44%

Notes: Volkswagen is the owner of Ducati Motor Holding
 


INDIA (rupee)

Hero    P 2596.55  H 2619.00  L 2560.05  C -0.02%  R 2787.70 – 1777.80  Y +52.4%

Bajaj    P 2057.90  H 2079.00  L 2045.20  C -0.87%  R 2364.85 – 1680.05  Y +10.13%

TVS    P 152.20  H 157.30  L 145.00  C +3.33%  R 179.20 – 28.75  Y +397.06%  

Eicher    P 8408.00  H 8639.90  L 8380.40  C -1.07%  R 9090.00 – 2965.00  Y +141.73%

Mahindra    P 1174.15  H 1194.00  L 1162.00  C -2.29%  R 1278.17 – 739.84  Y +38.99%

Maharashtra    P 706.00  H 717.00  L 690.00  C +0.76%  R 762.00 – 326.65  Y +99.36%

Scooters India    P 29.00  H 30.30  L 27.95  C -0.34%  R 36.75 – 13.50  Y +93.33%

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 233.00  H 236.90  L 233.00  C -2.91%  R 328 – 191.50  Y N/A

Pak Suzuki    P 286.00  H 293.00  L 283.98  C +1.75%  R 300.40 – 119.00  Y N/A

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


JAPAN (yen)

Honda    P 3602  H 3618  L 3588  C -1.42%  R 4385 – 3292  Y -0.73%

Yamaha    P 1715  H 1722  L 1706  C -0.75%  R 1865 – 1240  Y +18.35%

Suzuki    P 3429  H 3500  L 3396.5  C -1.01%  R 3530 – 2054  Y +34.73%

Kawasaki    P 395  H 402  L 393  C -2.47%  R 496 – 342  Y +7.02%
 


CHINA (yuan)

Qianjiang    P 6.24  H 6.37  L 6.20  C -1.73%  R 6.86 – 4.40  Y +21.64%

Qingqi    P 4.65  H 4.86  L 4.64  C -4.32%  R 5.09 – 3.34  Y N/A

Zongshen    P 4.91  H 5.01  L 4.90  C -1.41%  R 5.77 – 3.92  Y +6%   

Sundiro    P 4.40  H 4.52  L 4.40  C -1.79%  R 4.75 – 3.48  Y +24.29%

Jialing    P 6.11  H 6.42  L 6.09  C -4.83%  R 6.64 – 2.90  Y N/A  

Lifan    P 9.05  H 9.47  L 9.00 C -4.74%  R 9.63 – 5.46  Y +70.12%
 
Loncin    P 11.73  H 12.02  L 11.56  C -0.51%  R 12.20 – 7.31  Y +45.07%

Linhai    P 7.18  H 7.30  L 7.15  C -1.24%  R 7.47 – 4.80  Y +46.53%

 


CHINA (Hong Kong dollar)

Jianshe    P 6.10  H 6.18  L 6.05  C +0.49%  R 6.80 – 5.16  Y N/A  

Guangzhou Auto    P 8.56  H 8.69  L 8.49  C -2.17%  R 10.94 – 6.72  Y +14.64%

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 0.415  H 0.42  L 0.415  C -1.19%  R 0.66 – 0.40  Y –20.19%

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 28.00  H 29.10  L 27.75  C -3.78%  R 63.00 – 25.20  Y -5.91%

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


MALAYSIA (ringgit)

Oriental Holdings    P 7.80  H 7.85  L 7.75  C -0.26%  R 10.00 – 6.95  Y -20.34%

Hong Leong    P 6.88  H 6.90  L 6.82  C +1.03%  R 7.00 – 4.75  Y +30.66%

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 7725  H 7725  L 7550  C +0.65%  R 8050 – 5100  Y N/A

Notes: Astra International is a Honda JV partner. Its controlling shareholder is Jardine Matheson Holdings, a British-managed conglomerate domiciled in Hong Kong.
 


SOUTH KOREA (won)

KR    P 1005  H 1025  L 983  C +0.6%  R 1495 – 425  Y +117.53%

Daelim    P 93,400  H 93,800  L 91,600  C +0.43%  R 110,000 – 77,000  Y +6.01%

Notes: KR Motors (formerly 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. (The remainder is British-owned, by the private equity arm of Standard Chartered Bank.)
 

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