11 SEPTEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

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

Although developed-world stock indices all finished with positive figures, that masked a lot of market volatility as investors wait with baited breath to see whether the US Federal Reserve will shortly take a pivotal decision to raise interest rates for the first time since the 2008 financial crisis. 

But a 1.52% S&P 500 rise wasn’t reflected across many American industrial stocks. Harley-Davidson remained dead flat week-on-week, not that far above its lowest point in the past 12 months. Polaris shares fell.

Sharp day-to-day swings were evident in Europe too, where the FTSE Eurofirst 300 index was weaker, up by just 0.61%. However, the three big German automotives recovered to some extent from recent China-influenced losses. Piaggio was also up a bit but KTM stayed flat — on the basis of no trading activity in its shares over the entire week.

Japan also escaped from four weeks of negative gloom and the Nikkei 225 finished with a 2.65% improvement over five days. That was buoyed by a sudden 7.7% spike on Wednesday. Among Japanese motorcycle manufacturers, only Suzuki failed to follow form with a fairly minor drop.

In the two huge emerging markets, India returned to consistent — if modest — growth as its five largest bike producers all made gains. After a succession of torrid price adjustments, China displayed a quietly optimistic mood. Of its nine listed motorcycle manufacturers, six posted weekly gains after some panicky yo-yo activity earlier in the week. Honda JV partner Sundiro had its share trading halted for an excessive upwards lunge above the regulatory 10% limit, while Yamaha’s two JV partners Linhai and Jianshe continued to languish under suspension.                  

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

USA (US dollar)

Harley-Davidson    P 54.78  C -0.04%  R 70.41 – 50.64  Y -13.23%

Polaris    P 127.86  C +0.02%  R 159.33 – 119.96  Y -12.12%

Arctic Cat    P 24.14  C -2.39%  R 39.72 – 23.78  Y -33.12%

US Highland    P 0.70  C N/A  R 1.05 – 0.13  Y N/A

Viper    P 0.0025  C N/A  R 0.01 – 0.0025  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.

CANADA (Canadian dollar)

BRP    P 26.60  C -0.86%  R 29.80 – 20.67  Y +6.78%

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 22.50  C +2.74%  R 31.60 – 19.15  Y -19.64%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.45  C N/A  R 0.85 – 0.40  Y +5.88%

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

INDONESIA (rupiah)

Astra    P 6125  C +1.24%  R 8575 – 5450  Y -12.57%

Indomobil    P 2755  C -1.61%  R 4600 – 2755  Y -37.21%

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 85.80  C -0.35%  R 123.75 – 74.52  Y -1.07%

Daimler    P 73.95  C +0.01%  R 96.07 – 55.10  Y +21.21%

VW    P 166.98  C -0.59%  R 254.99 – 147.35  Y -2.04%

KTM    P 112.00  C N/A  R 141.00 – 99.69  Y +8.22%

Piaggio    P 2.44  C -1.46%  R 3.18 – 1.93  Y +8.54%

Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati and a 20% stake in Suzuki.

PAKISTAN (Pakistani rupee)

Atlas Honda    P 340.00  C N/A  R 409.00 – 272.00  Y N/A 

Pak Suzuki    P 419.00  C -1.64%  R 493.00 – 272.00  Y N/A

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

INDIA (rupee)

Hero    P 2343.05  C -0.24%  R 3271.80 – 2251.30  Y -14.12%

Bajaj    P 2325.80  C +1%  R 2695.00 – 1912.50  Y N/A

TVS    P 234.35  C +2.22%  R 322.30 – 200.05  Y +3.85%  

Eicher    P 18,882.05  C +2.08%  R 21,620.00 – 10,826.35  Y +57.53% 

Mahindra    P 1166.50  C -0.31%  R 1442.05 – 1092.15  Y -15.24% 

Maharashtra    P 970.15  C -0.19%  R 1200.00 – 779.95  Y +25.4% 

Scooters India    P 23.60  C N/A  R 38.85 – 21.75  Y -12.27% 

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 3719.5  C -0.61%  R 4499 – 3239  Y +3.21%

Yamaha    P 2334  C -0.98%  R 3245 – 1803  Y +13.89%

Suzuki    P 3786.5  C -1.2%  R 4780.5 – 3011.5  Y +4.22%

Kawasaki    P 450  C -0.88%  R 647 – 393  Y +11.77%

CHINA (yuan)

Qianjiang    P 7.07  C +1.73%  R 17.11 – 5.55  Y -2.35%

Zongshen    P 11.54  C +1.41%  R 30.15 – 7.05  Y +42.11%   

Sundiro    P 5.03  C N/A  R 12.69 – 4.70  Y N/A [Trading suspended]

Jialing    P 7.51  C -1.31%  R 16.34 – 5.27  Y +10.12%  

Lifan    P 10.26  C -0.39%  R 27.99 – 8.15  Y +18.64% 

Loncin    P 16.12  C +1.45%  R 39.48 – 12.82  Y +23.35%

Linhai    P 13.37  C N/A  R 14.29 – 7.78  Y N/A [Trading suspended]

Guangzhou Auto    P 18.37  C +1.55%  R 21.38 – 7.63  Y +123.42%

CHINA (Hong Kong dollar)

Jianshe    P 11.38  C N/A  R 19.99 – 6.85  Y N/A [Trading suspended] 

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 6.63  C +0.3%  R 7.93 – 6.46  Y -13.76%

Hong Leong    P 5.18  C +0.39%  R 7.54 – 3.95  Y -24.2%

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

SOUTH KOREA (won)

KR    P 997  C -0.1%  R 1600 – 798  Y +19.4%

Daelim    P 66,500  C +1.53%  R 98,000 – 50,400  Y -24.32%

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.)