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HomeNEWSFINANCIAL13 MARCH — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

13 MARCH — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday, 13 March, 2015.

Gloom continued to pervade New York investors for a third consecutive week, thanks to a phalanx of negative indicators. With speculation about an imminent US interest rate rise growing more frenzied, the dollar lifted to its highest level for 12 years against a basket of lesser currencies. The benchmark Brent crude oil price also fell again, to its lowest level for a month. As a result, the S&P 500 index dropped by 1.1 per cent, reflecting steady selling pressure on equities. Harley-Davidson stock underperformed that marker by a considerable extent, sinking by 5.3 per cent to below 60 bucks for the first time this year.

The contrast with Europe was stark. As the ECB’s quantitative easing programme finally ground into action on Monday, the euro slid further, boosting export-oriented shares in particular and pushing the FTSE Eurofirst 300 up by 0.5 per cent to a seven-year peak. Every listed motorcycle-related company stands in that exporter category and benefited accordingly. All three big German automotive groups touched annual highs on Friday. Most notable on a weekly basis, BMW put on four per cent and VW 6.5 per cent. In Italy, Piaggio stacked on five per cent. 

Appreciation of the dollar against Japan’s yen naturally cheered exporters in Tokyo too. The Nikkei 225 climbed by 1.5 per cent, its fifth successive weekly gain. Honda, Yamaha and Kawasaki rode upwards on the back of that, with Honda nudging a 52-week summit. Suzuki sadly didn’t do either.

Elsewhere in eastern climes, market moods were more mixed. Post-budget in India, a realisation that the Modi government has dodged enactment of most enterprise-boosting measures it had promised clearly subdued investors. The BSE Sensex 30 index declined and is now down by one per cent over the past month. That hit all five motorcycling majors. Hero MotoCorp was dead flat but the rest fell.

In China, the Shanghai Composite and both mainland stock markets in Shanghai and Shenzhen boasted monthly positives, with the index up by 6.3 per cent. However, Hong Kong’s Hang Seng has fallen by 2.5 per cent over the same period.  Most biker shares made progress. Star performer of the week was Zongshen, surging by a plumptious 14 per cent to close on an annual high.

 

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

 

USA (US dollar)

Harley-Davidson    P 58.80  H 60.23  L 58.24  C -3.37%  R 74.13 – 54.22  Y -11.02%

Polaris    P 147.76  H 148.64  L 146.26  C -0.65%  R 159.33 – 124.728  Y +8.28%

Arctic Cat    P 37.38  H 38.00  L 36.59  C -1.32%  R 49.69 – 26.00  Y -20.96%

US Highland    P 0.52  H 0.52  L 0.52  C N/A  R 0.60 – 0.13  Y N/A

Viper    P 0.0033  H 0.0033  L 0.0033  C +32%  R 0.044 – 0.0012  Y N/A

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 21.58  H 21.805  L 21.10  C +0.65%  R 31.98 – 20.67  Y -29.64%

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 119.612  H 120.125  L 117.20  C +0.76%  R 120.125 – 74.74  Y +55.2%

Daimler    P 93.15  H 93.44  L 91.59  C +0.36%  R 93.44 – 55.10  Y +49.61%

Piaggio    P 2.98  H 3.00  L 2.94  C +0.68%  R 3.092 – 1.93  Y +23.45%

KTM    P 128.00  H 132.00  L 128.00  C -1.48%  R 141.00 – 71.50  Y +78.66%

VW    P 240.60  H 240.85  L 235.40  C +1.38%  R 240.85 – 147.35  Y +41.36%

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 2610.00  H 2673.95  L 2604.05  C -1.22%  R 3271.80 – 2055.85  Y +27.4%

Bajaj    P 2023.10  H 2084.90  L 2011.00  C -2.4%  R 2695.00 – 1840.10  Y +4.7%

TVS    P 277.70  H 291.85  L 276.30  C -4.13%  R 322.30 – 84.00  Y +224.62%  

Eicher    P 15,912.75  H 16,381.90  L 15,790.40  C -2.4%  R 17,200.00 – 5469.00  Y +186.51% 

Mahindra    P 1227.75  H 1253.00  L 1220.50  C -1.08%  R 1433.70 – 951.66  Y +20.96% 

Maharashtra    P 863.60  H 878.00  L 840.00  C +0.95%  R 1124.00 – 442.50  Y +93.39% 

Scooters India    P 29.40  H 29.40  L 28.25  C +0.34%  R 38.85 – 14.55  Y +84.91% 

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 an own-brand motorcycle range and a majority stake in French scooter brand Peugeot. 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 350.70  H 364.00  L 350.70  C -1.71%  R 405.30 – 209.00  Y N/A 

Pak Suzuki    P 446.66  H 446.66  L 435.00  C +2.83%  R 450.85 – 181.00  Y N/A

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

 

JAPAN (yen)

Honda    P 4137  H 4152.5  L 4104.5  C +0.33%  R 4152.5 – 3239  Y +17.52%

Yamaha    P 3025  H 3060  L 2986  C +0.97%  R 3145 – 1445  Y +108.26%

Suzuki    P 3577  H 3588.5  L 3525  C +0.22%  R 4041 – 2526  Y +40.57%

Kawasaki    P 584  H 589  L 582  C +0.52%  R 589 – 350  Y +57.62%

 

CHINA (yuan)

Qianjiang    P 7.24  H 7.33  L 7.14  C -0.41%  R 7.89 – 4.90  Y +28.14%

Zongshen    P 12.12  H 12.12  L 10.86  C +9.98%  R 12.12 – 4.37  Y +141.45%   

Sundiro    P 5.51  H 5.56  L 5.43  C +1.29%  R 5.95 – 3.61  Y +42.78%

Jialing    P 8.57  H 8.68  L 8.40  C +0.47%  R 9.28 – 3.55  Y +138.72%  

Lifan    P 10.31  H 10.35  L 10.13  C +1.08%  R 10.64 – 6.33  Y +64.84% 

Loncin    P 16.33  H 16.91  L 16.18  C +0.49%  R 18.81 – 8.24  Y N/A

Linhai    P 9.99  H 10.05  L 9.90  C -0.2%  R 11.39 – 5.31  Y +86.61%

 

CHINA (Hong Kong dollar)

Jianshe    P 7.86  H 7.90  L 7.77  C +0.38%  R 9.40 – 5.41  Y +38.62%  

Guangzhou Auto    P 6.94  H 6.99  L 6.82  C +0.58%  R 9.87 – 6.58  Y +1.75%

Notes: Qianjiang owns both the exported Keeway brand and the formerly Italian Benelli brand. 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 0.46  H 0.46  L 0.455  C +1.1%  R 0.69 – 0.40  Y -11.54%

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 27.15  H 27.50  L 27.00  C +0.37%  R 56.60 – 25.20  Y -47.18%

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

 

MALAYSIA (ringgit)

Oriental Holdings    P 6.96  H 7.00  L 6.94  C N/A  R 8.10 – 6.48  Y -2.84%

Hong Leong    P 4.46  H 4.50  L 4.45  C +0.22%  R 7.543 – 3.95  Y -16.03%

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 7875  H 7950  L 7850  C -0.32%  R 8175 – 6325  Y +4.04%

Indomobil    P 3990  H 3990  L 3990  C -0.25%  R 5200 – 3050  Y -22.2%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is Jardine Matheson Holdings, a British-managed conglomerate domiciled in Hong Kong. Indomobil Sukses Internasional is a Suzuki motorcycle manufacturing and distribution JV partner, producing about 350,000 bikes annually.

 

SOUTH KOREA (won)

KR    P 1380  H 1415  L 1375  C +0.73%  R 1495 – 571  Y +131.16%

Daelim    P 68,500  H 69,900  L 68,200  C +0.15%  R 94,300 – 50,400  Y -17.14%

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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