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HomeNEWSFINANCIAL12 DECEMBER — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICE GUIDE

12 DECEMBER — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICE GUIDE

12 DECEMBER — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICE GUIDE

A snapshot of global bike and ATV industry share performance at the trading closure on Friday 12 December 2014.

Overwhelming otherwise optimistic data, the collapsing global price of crude oil unsettled developed-world financial markets as the past week progressed. With benchmark high-grade Brent crude falling to $61.82 a barrel, energy stocks reaped the whirlwind, dragging down indices and even spreading the malaise to industrials which — ironically — should eventually prosper from a consumption boost thanks to cheaper fuel.

In New York, the S&P 500 index suffered its biggest weekly drop for two months, falling by 2.9 per cent. Harley-Davidson and Polaris did much worse than that, respectively down by 5.3 per cent and 6.2 per cent.

Plummeting oil company share prices had an even more dramatic effect on trends in Europe, enhanced by fears that EU basketcase Greece was about to plunge back into penury. The FTSE Eurofirst 300 sank by nearly six per cent and the Stoxx Europe 600 experienced its worst weekly decline for more than three years. All five European motorcycle-related stocks went negative. Germany’s troika of big automotives got the hardest hammering, each losing about four per cent.

Emerging markets, potentially the biggest economic beneficiaries of any cheap oil glut, were more confusing. India’s BSE Sensex 30 index nose-dived throughout the week. Sensex members Hero, Bajaj and Mahindra followed suit, dragging down the share prices of every other smaller indigenous bike manufacturer too. Royal Enfield parent Eicher was worst performer, jettisoning all of its recent gains with a 7.7 per cent drop.

A spectacular Chinese rally of recent weeks also hit the buffers as Shanghai’s Composite index went south to the tune of 5.3 per cent on Tuesday, after climbing steadily by more than 30 per cent over the preceding month and a half. Primary reason behind this panic was the Bank of China’s failure to react swiftly to news of an industrial production decline during October. Sentiment recovered by Friday but listed domestic motorcycle manufacturers ended up pretty much 50-50 in terms of winners and losers.

As for Japan, Tokyo investors both exited oil stocks (despite their nation being hungry for lower energy prices) and were unimpressed by a return to yen appreciation and its effect on exporters, pushing the Nikkei 225 into a three per cent weekly retreat. As exporters, Honda, Yamaha, Suzuki and Kawasaki all took their portion of this punishment.  


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

USA (US dollar)

Harley-Davidson    P 66.42  H 67.53  L 66.42  C -1.44%  R 74.13 – 54.22  Y +0.02%

Polaris    P 144.72  H 147.60  L 144.57  C -0.88%  R 159.33 – 118.80  Y +9.62%

Arctic Cat    P 32.71  H 33.52  L 32.35  C -2.21%  R 59.73 – 30.11  Y -39%

US Highland    P 0.13  H 0.13  L 0.13  C N/A  R 0.59 – 0.13  Y N/A

Viper    P 0.0012  H 0.0012  L 0.0012  C N/A  R 0.05 – 0.0012  Y -95.38%

Notes: Polaris makes Victory and Indian motorcycles, ATVs, snowmobiles, quadricycles and EVs. 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 23.36  H 23.77  L 20.67  C -8.07%  R 31.98 – 23.67  Y -20.22%

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 87.87 H 89.95  L 87.74  C -2.2%  R 96.10 – 74.74  Y +13.3%

Daimler    P 66.60  H 68.05  L 66.40  C -2.52%  R 71.27 – 55.10  Y +16.88%

Piaggio    P 2.33  H 2.352  L 2.308  C -1.19%  R 3.092 – 1.93  Y +3.19%

KTM    P 131.60  H 131.60  L 131.60  C N/A  R 138.30 – 59.76  Y +118.31%

VW    P 177.232  H 182.00  L 177.232  C +2.5%  R 198.43 – 147.35  Y -0.78%

Notes: Daimler has a 25 per cent stake in MV Agusta through its AMG-Mercedes subsidiary. Volkswagen is the owner of Ducati Motor Holding


INDIA (rupee)

Hero    P 3124.90  H 3166.20  L 3101.10  C +0.33%  R 3271.80 – 1907.00  Y +57.23%

Bajaj    P 2521.35  H 2572.60  L 2510.30  C -1.63%  R 2695.00 – 1793.20  Y +35.21%

TVS    P 251.35  H 256.30  L 247.00  C +0.28%  R 266.70 – 52.85  Y +371.97%  

Eicher    P 14,036.80  H 14,253.70  L 13,940.15  C -0.18%  R 15,785.00 – 4401.10  Y +187.14%

Mahindra    P 1251.40  H 1266.15  L 1241.60  C -1.16%  R 1433.70 – 846.25  Y +33.21%

Maharashtra    P 996.90  H 1049.95  L 992.60  C -4.19%  R 1124.00 – 393.70  Y +155.28%

Scooters India    P 29.15  H 29.80  L 28.90  C -3.95%  R 38.85 – 14.20  Y +94.33%

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 311.00  H 317.70  L 300.25  C -0.96%  R 355.57 – 209.00  Y N/A

Pak Suzuki    P 356.00  H 373.00  L 355.76  C -4.93%  R 414.50 – 139.00  Y N/A

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


JAPAN (yen)

Honda    P 3520  H 3555  L 3512.5  C -1.35%  R 4330 – 3239  Y -13.73%

Yamaha    P 2416  H 2464  L 2390  C -0.17%  R 2655 – 1265  Y +57.17%

Suzuki    P 3736  H 3785  L 3726  C -0.51%  R 4041 – 2497  Y +44.51%

Kawasaki    P 551  H 557  L 544  C +2.04%  R 589 – 350  Y +34.19%


CHINA (yuan)

Qianjiang    P 6.76  H 6.78  L 6.63  C +1.05%  R 7.89 – 4.67  Y +37.96%

Qingqi    P 6.87  H 6.94  L 6.59  C +3%  R 7.34 – 3.34  Y N/A

Zongshen    P 10.15  H 10.30  L 9.90  C -0.98%  R 10.82 – 3.92  Y +117.26%   

Sundiro    P 5.58  H 5.58  L 5.45  C +1.82%  R 5.95 – 3.48  Y +43.12%

Jialing    P 8.70  H 8.90  L 8.62  C -0.57%  R 9.28 – 3.01  Y +142.34%  

Lifan    P 10.16  H 10.19  L 9.98  C +0.69%  R 10.64 – 5.65  Y +60.95%
 
Loncin    P 16.48  H N/A  L N/A  C N/A  R 18.81 – 8.24  Y N/A [Trading suspended]

Linhai    P 8.83  H 8.90  L 8.73  C +0.34%  R 11.39 – 4.80  Y +65.25%
 


CHINA (Hong Kong dollar)

Jianshe    P 7.91  H 8.10  L 7.81  C -2.94%  R 9.40 – 5.28  Y +43.56%  

Guangzhou Auto    P 7.05  H 7.11  L 7.01  C +0.86%  R 9.87 – 6.72  Y -23.76%

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 0.475  H 0.48  L 0.475  C -2.06%  R 0.69 – 0.40  Y -13.64%

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 27.85  H 28.20  L 27.80  C N/A  R 63.00 – 25.20  Y -41.41%

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


MALAYSIA (ringgit)

Oriental Holdings    P 6.73  H 6.81  L 6.60  C -2.04%  R 8.54 – 6.60  Y -20.39%

Hong Leong    P 4.20  H 4.20  L 4.13  C +0.48%  R 7.543 – 3.95  Y +1.54%

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 7175  H 7250  L 7100  C +1.06%  R 8050 – 6050  Y +21.21%

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 981  H 1005  L 970  C -1.6%  R 1495 – 425  Y +119.46%

Daelim    P 65,000  H 65,700  L 64,700  C -0.46%  R 96,000 – 62,700  Y -28.26%

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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