11 DECEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 11 December 2015.

Equities market panic spread across the world as the past week progressed. In western countries, this was primarily driven by the oil price plunging to a seven-year low, with benchmark Brent crude dipping down to just $37.49 a barrel by noon on Friday. Increasing nervousness about next week’s US Federal Reserve board meeting — which may sanction an interest rate rise — didn’t help either.

New York’s S&P 500 index dropped by 3.55% and the Eurozone’s Eurofirst 300 fell by 4.58% week-on-week. Among bike-related stocks, Harley-Davidson sank by 4.3% and Polaris by 5.8%. A similar scale of across-the-board carnage afflicted Europe. Worst sufferers in Germany were BMW and Daimler, respectively 6.1% and 7.6% down. Piaggio lost 4.8% on the Borsa Italiana in Milan.

Wall Street gloom, abetted by China’s central bank indicating that a yuan devaluation could be on the cards soon, spread right across Asia too. Mumbai’s BSE Sensex 30 dropped by 2.32% and the Shanghai Composite was down by 2.55%. Every single motorcycle manufacturer with an active listing across India and China lost value — some of the Chinese by much bigger degrees than the overall index movement.

The same mood reached Tokyo, were the Nikkei 225 was pushed 1.4% lower week-on-week. All four Japanese bike producers experienced share price falls. 

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

USA (US dollar)

Harley-Davidson    P 45.63  C -1.49%  R 67.55 – 45.29  Y -29.72%

Polaris    P 93.41  C -2.1%  R 158.24 – 92.87  Y -34.41%

Arctic Cat    P 18.23  C -6.89%  R 39.72 – 16.60  Y -43.27%

US Highland    P 0.28  C -3.42%  R 1.05 – 0.11  Y N/A

Viper    P 0.001  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 22.10  C +9.51%  R 29.80 – 19.89  Y -5.39%

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 22.15  C -1.77%  R 29.90 – 19.15  Y -20.47%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.46  C N/A  R 0.85 – 0.40  Y -3.16%

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

INDONESIA (rupiah)

Astra    P 5900  C -5.22%  R 8575 – 4975  Y -15%

Indomobil    P 2000  C +2.56%  R 4200 – 1860  Y -36.12%

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 93.13  C -4.04%  R 123.75 – 72.05  Y +8.92%

Daimler    P 73.81  C -4.55%  R 96.07 – 62.05  Y +13.92%

VW    P 136.88  C -2.59%  R 254.99 – 95.00  Y -21.05%

KTM    P 122.00  C -1.61%  R 141.00 – 99.69  Y -6.13%

Piaggio    P 2.17  C -2.25%  R 3.18 – 2.10  Y -4.21%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 394.00  C +2.34%  R 414.80 – 300.00  Y N/A

Pak Suzuki    P 470.25  C +0.39%  R 493.00 – 327.00  Y N/A

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

INDIA (rupee)

Hero    P 2525.15  C -0.91%  R 3250.00 – 2251.30  Y -18.3%

Bajaj    P 2416.25  C -1.11%  R 2656.00 – 1912.50  Y -2.26%

TVS    P 274.00  C -1.7%  R 322.30 – 201.00  Y +9.81% 

Eicher    P 15,560.85  C -2.99%  R 21,620.00 – 13,701.00  Y +11.2%

Mahindra    P 1261.90  C -2.23%  R 1442.05 – 1092.15  Y +1.79%

Maharashtra    P 1391.55  C -3.66%  R 1611.80 – 785.85  Y +43.17%

Scooters India    P 28.05  C -3.28%  R 35.45 – 21.75  Y -3.77%

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 3914  C +0.64%  R 4499 – 3382.5  Y +13.79%

Yamaha    P 2863  C +0.25%  R 3245 – 2108  Y +20.68%

Suzuki    P 3700  C N/A  R 4780.5 – 3411.5  Y -0.1%

Kawasaki    P 466  C +0.22%  R 647 – 398  Y -13.43%

CHINA (yuan)

Qianjiang    P 11.03  C -5.97%  R 17.11 – 5.55  Y +63.17%

Zongshen    P 13.55  C -3.83%  R 30.15 – 7.75  Y +33.65%  

Sundiro    P 7.65  C -0.78%  R 12.69 – 4.70  Y +37.1%

Jialing    P 9.23  C -3.85%  R 16.34 – 5.27  Y +6.09% 

Lifan    P 16.03  C -6.42%  R 27.99 – 8.31  Y +60.73%

Loncin    P 22.34  C -0.18%  R 39.48 – 12.82  Y +66.22%

Linhai    P 13.37  C N/A  R N/A  Y N/A [Trading suspended]

Guangzhou Auto    P 21.07  C -2.54%  R 24.85 – 7.80  Y +140.72%

CHINA (Hong Kong dollar)

Jianshe    P 12.29  C -1.99%  R 19.99 – 6.85  Y +48.43%

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 is the parent of Honda JV partner and own-brand bike manufacturer Wuyang.

MALAYSIA (ringgit)

Oriental Holdings    P 7.00  C -0.28%  R 7.93 – 6.46  Y +6.97%

Hong Leong    P 6.08  C -0.16%  R 6.30 – 4.05  Y +53.13%

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

SOUTH KOREA (won)

KR    P 977  C +1.88%  R 1600 – 905  Y -0.41%

Daelim    P 65,500  C +0.77%  R 98,000 – 50,400  Y +0.92%

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.)