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13 JANUARY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICEs

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 13 January 2016.

 

Following in the wake of a fairly accident-prone debut press conference for President-Elect Trump, US investors began to question the assumption that he will lead a business-friendly administration. Such caution ensured New York’s S&P 500 index was almost dead flat week-on-week, down by just 0.1%. Harley-Davidson and Polaris share prices reflected that subdued mood with unerring accuracy.

In Europe, the Eurofirst 300 was lifted into marginal 0.2% positivity by some better-than-expected financial results in the banking sector. But guarded optimism didn’t spread to automotives, including motorcycle associates. KTM lost 2.7% and Piaggio was 1.2%. In Germany, sentiment was harsher for BMW and Daimler, with respective falls of 3.1% and 5%. The only exception to this drift was VW, celebrating the fact that, despite criminal conviction and a monumental $4bn-plus fine in the US for emissions fiddling, the consensus was that it had got off lightly. Hence a 5.6% rise for the company’s shares.

Completing a clean sweep of nervous tension across the developed world, Tokyo’s Nikkei 225 finished 0.9% down on Friday after recovering from a two-week low mid-week. Driving force was the unavoidable Donald Trump, having now included the Japanese in his hit-list of exporting nations responsible for the US trade deficit. Honda and Yamaha dropped respectively by 1.6% and 1.3%. Suzuki and Kawasaki managed to stay very marginally positive — by 0.7% and 0.5%.

Bike producers weren’t flavour of the week in emerging economies either. Although India’s BSE Sensex 30 bounced back to add 1.8%. All major Indian motorcycle manufacturer shares were either stagnant or down. China was worse, as its government initiated moves against non-performing soft corporate loans. Shanghai’s Composite index sank by 1.33% and biker stocks toed that negative line without exception.                                

          

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

 

USA (US dollar)

Harley-Davidson    P 58.73  C +0.7%  R 62.35 – 36.36  Y +49.58%

Polaris    P 86.27  C -0.84%  R 104.25 – 67.80  Y +11.92%

Arctic Cat    P 13.64  C -0.07%  R 19.82 – 8.90  Y +6.9%

US Highland    P 0.0005  C -16.67%  R 0.27 – 0.0002  Y N/A

Confederate    P 0.04  C N/A  R 0.27 – 0.04  Y N/A

Notes: Polaris makes Indian bikes, ATVs, snowmobiles, quadricycles and EVs. Arctic Cat makes ATVs and snowmobiles. US Highland makes off-road bikes. Confederate Motors makes limited-edition cruisers.

 

CANADA (Canadian dollar)

BRP    P 26.80  C +0.04%  R 29.09 – 13.76  Y +68.55%

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

 

TAIWAN (Taiwanese dollar)

Sanyang    P 20.60  C -0.24%  R 23.90 – 19.90  Y +6.39%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.46  C -2.13%  R 0.54 – 0.36  Y +13.58%

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

 

INDONESIA (rupiah)

Astra    P 8000  C +0.95%  R 8875 – 5700  Y +38.86%

Indomobil    P 1310  C -0.76%  R 2150 – 1250  Y -36.9%

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 87.60  C -0.66%  R 91.76 – 63.38  Y +18.52%

Daimler    P 68.28  C +0.47%  R 79.50 – 50.83  Y +16.92%

VW    P 150.91  C -0.72%  R 155.45 – 106.65 Y +25.34%

KTM    P 5.04  C +0.76%  R 5.40 – 3.25  Y +46%

Piaggio    P 1.59  C +0.25%  R 2.11 – 1.39  Y -14.38%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 603.00  C -0.99%  R 620.00 – 349.60  Y N/A

Pak Suzuki    P 631.06  C -0.92%  R 656.00 – 363.01  Y N/A

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

 

INDIA (rupee)

Hero    P 3046.55  C -1.19%  R 3740.00 – 2375.00  Y +26.05%

Bajaj    P 2708.55  C -1.04%  R 3122.00 – 2171.95  Y +17.06%

TVS    P 383.95  C -1.15%  R 420.00 – 256.00  Y +35.14% 

Eicher    P 22,793.55  C -0.14%  R 26,641.30 – 14,800.00  Y +34.32%

Mahindra    P 1217.85  C +0.37%  R 1508.95 – 1091.25  Y +1.91%

Maharashtra    P 1617.95  C N/A  R 2170.00 – 1056.00  Y +26.4%

Scooters India    P 40.20  C +4.96%  R 44.85 – 22.65  Y +38.62%

Notes: Hero MotoCorp is a 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 BMW Motorrad contractor. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has an own-brand bike range, a majority stake in French scooter brand Peugeot and owns formerly British BSA brand rights. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj. Scooters India makes Vikram three-wheeled taxis and light trucks.

 

JAPAN (yen)

Honda    P 3446  C -0.32%  R 3626 – 2417  Y -1.57%

Yamaha    P 2497  C -0.87%  R 2834 – 1409  Y +2.93%

Suzuki    P 4301  C +1.73%  R 4322 – 2450  Y +23.62%

Kawasaki    P 366  C +1.95%  R 413 – 257  Y -7.37%

 

CHINA (yuan)

Qianjiang    P 16.76  C -1.7%  R 20.48 – 6.71  Y +101.93%

Zongshen    P 8.98  C -1.32%  R 11.53 – 8.08  Y -2.42%  

Sundiro    P 7.54  C -0.26%  R 9.94 – 5.61  Y +27.22%

Jialing    P 9.87  C -3.14%  R 12.01 – 5.67  Y +53.26%

Lifan    P 9.03  C -1.53%  R 12.91 – 8.05  Y -17.35%

Loncin    P 21.99  C -0.89%  R 25.35 – 14.80  Y +34.37%

Linhai    P 17.94  C +0.56%  R 21.57 – 8.41  Y +83.44%

GAG    P 24.33  C +4.51%  R 26.27 – 18.10  Y +23.5%

 

CHINA (Hong Kong dollar)

Jianshe    P 12.70  C -3.71%  R 18.24 – 11.25  Y -25.77%

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 6.78  C -0.15%  R 7.52 – 6.48  Y +3.27%

Hong Leong    P 9.36  C -0.43%  R 10.08 – 5.25  Y +67.5%

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

 

SOUTH KOREA (won)

KR    P 877  C +4.53%  R 1350 – 661  Y -26.61%

Daelim    P 88,000  C +0.11%  R 94,300 – 64,500  Y +23.08%

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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