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HomeNEWSFINANCIAL13 MAY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

13 MAY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

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

Stock markets lacked direction during the past week with conflicting indicators. Robust US retail sales data for April, along with American business confidence reportedly hitting an 11-month high, should have boosted trading on Wall Street. But oil prices falling once again blunted enthusiasm. As a result, the S&P 500 index delivered only a 0.23% gain. Our primary US benchmark Harley-Davidson didn’t even manage that, posting a 0.9% weekly fall. Polaris was much worse, dropping by 6.1%.

Feeble eurozone economic data, with only German GDP figures showing any sign of life, also subdued Europe. The Eurofirst 300 was 0.97% up but motorcycle-related stocks generally went the other way. Only VW bucked this negative trend with a 2.5% rise.

Japan fared better on four days of steady gains as the yen weakened and export prospects lifted. The Nikkei 225 eventually went sour on Friday, dropping by 1.4%, but still finished 1.9% up overall. All four domestic bike producers enjoyed marginally improving share prices week-on-week, despite disappointing financial results from Yamaha and Suzuki.

The big emerging Asian nations weren’t as good. Although India’s BSE Sensex 30 averaged a 1.03% gain over the week, it still tanked sharply by 1.17% on Friday, leaving a mixed batch of motorcycling winners and losers. Biggest players Hero and Bajaj were positive but TVS, Mahindra and Eicher fell. The latter, which should have been basking in adulation after unveiling excellent annual results, suffered most punishment — falling by 6%. But profit-taking investor exits could have been responsible for that sell-off.

China was a comprehensive pit of gloom as Shanghai’s Composite index sank by 2.95% amid heightened concerns over unsustainable levels of corporate debt. Every trading motorcycle stock steadily headed south.  

                                

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

 

USA (US dollar)

Harley-Davidson    P 45.56  C -0.13%  R 60.67 – 36.36  Y -15.95%

Polaris    P 83.50  C -1.88%  R 156.35 – 67.80  Y -39.23%

Arctic Cat    P 13.56  C +0.22%  R 35.78 – 8.90  Y -57.21%

US Highland    P 0.01  C -4.35%  R 1.00 – 0.01  Y -98.95%

Viper    P 0.0008  C N/A  R N/A  Y N/A 

Confederate    P 0.17  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 18.92  C -0.68%  R 29.80 – 13.76  Y -28.82%

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 20.20  C N/A  R 26.25 – 19.15  Y -21.09%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.42  C N/A  R 0.85 – 0.36  Y -37.31%

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

 

INDONESIA (rupiah)

Astra    P 6325  C -3.07%  R 7950 – 4975  Y -13.12%

Indomobil    P 1675  C -6.69%  R 4100 – 1620  Y -58.01%

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 73.34  C -3%  R 107.70 – 65.99  Y -25.15%

Daimler    P 58.69  C -0.44%  R 91.00 – 57.01  Y -27.18%

VW    P 135.70  C +0.15%  R 234.00 – 95.00 Y -36.99%

KTM    P 122.55  C -0.2%  R 130.00 – 99.69  Y +3.84%

Piaggio    P 1.79  C -0.22%  R 3.18 – 1.56  Y -35.53%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 388.00  C +0.65%  R 414.80 – 320.05  Y N/A

Pak Suzuki    P 387.00  C -0.57%  R 532.00 – 371.00  Y N/A

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

 

INDIA (rupee)

Hero    P 2912.60  C -1.3%  R 3172.00 – 2257.20  Y +19.3%

Bajaj    P 2517.70  C -1.23%  R 2656.00 – 2107.20  Y +20.05%

TVS    P 296.15  C -0.12%  R 340.90 – 201.00  Y +35.01% 

Eicher    P 18,992.80  C -3.85%  R 21,620.00 – 14,800.00  Y +2%

Mahindra    P 1312.75  C -1.62%  R 1442.05 – 1091.25  Y +6.09%

Maharashtra    P 1354.65  C +2.73%  R 1619.00 – 913.05  Y +51.96%

Scooters India    P 24.80  C +1.39%  R 35.05 – 21.75  Y -12.06%

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 2956.5  C -2.17%  R 4499 – 2726  Y -27.5%

Yamaha    P 1775  C +0.11%  R 3245 – 1581  Y -39.35%

Suzuki    P 2927.5  C -3.98%  R 4780.5 – 2662.5  Y -27.91%

Kawasaki    P 311  C -2.81%  R 641 – 269  Y -47.03%

 

CHINA (yuan)

Qianjiang    P 11.26  C -0.18%  R 17.11 – 5.55  Y +10.5%

Zongshen    P 9.85  C -1.2%  R 30.15 – 8.08  Y -64.08%  

Sundiro    P 5.71  C N/A  R 12.69 – 4.89  Y N/A [Trading halted]

Jialing    P 7.38  C N/A  R 16.34 – 5.27  Y N/A [Trading halted]

Lifan    P 9.65  C +0.1%  R 27.99 – 8.05  Y -44.35%

Loncin    P 16.10  C -0.86%  R 39.48 – 13.00  Y -31.49%

Linhai    P 10.23  C -0.49%  R 14.71 – 8.41  Y -27.91%

GAG    P 23.96  C -2.96%  R 25.55 – 11.03  Y +98.77%

 

CHINA (Hong Kong dollar)

Jianshe    P 14.13  C +1.15%  R 19.99 – 7.72  Y -2.08%

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 6.88  C -0.72%  R 7.93 – 6.48  Y -10.96%

Hong Leong    P 7.49  C +2.6%  R 7.50 – 4.34  Y +67.5%

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

 

SOUTH KOREA (won)

KR    P 1205  C +2.99%  R 1770 – 905  Y +3.88%

Daelim    P 81,300  C +1.25%  R 98,000 – 59,600  Y +1.44%

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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