13 NOVEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

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

Falling commodities prices, principally oil and minerals, combined with renewed concerns about growth and weakening US domestic consumer demand to hammer stocks in both America and Europe in the past week. Benchmark energy indicator Brent crude dipped right back down to $44 a barrel, an 8% weekly dip, and copper lost 3.2%.  

New York’s S&P 500 index dropped by 3.13%. Harley-Davidson, already challenged by stagnant sales on home territory, followed that trend closely with a 3.3% fall. It wasn’t alone. Nearest competitor Polaris fared worse, down by 6.3%.

Similar worries infected Europe, where the Eurofirst 300 went negative by 2.74%. The three big German automotives featuring motorcycling connections all posted declines. In Milan, Piaggio sank by 2.9%

Among developed economies, Japan was brighter. Tokyo’s Nikkei 225 rose by 1.72%, its fourth successive weekly improvement. Honda, Yamaha and Kawasaki shares all followed that optimism, adding value. Suzuki, however, went the other way. 

As for emerging countries, China was less perky and its Shanghai Composite index flattened on a marginal  0.2% weekly fall. The consensus among motorcycling stocks was an even split of winners and losers. Benelli and Keeway parent Qianjiang claimed weekly star of the show status thanks to a 10% lunge upwards on Friday. 

India was much gloomier. Only TVS gained any ground, up by 4.6% and driven presumably by imminent appearance at EICMA of the baby BMW Motorrad product it is to produce under contract. Most notable loser was Royal Enfield parent Eicher, which dropped by 6.4%.                                  

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

USA (US dollar)

Harley-Davidson    P 47.54  C -1.63%  R 70.41 – 46.47  Y -29.08%

Polaris    P 106.91  C -3.03%  R 159.21 – 104.10  Y -30.23%

Arctic Cat    P 19.63  C -2.63%  R 39.72 – 16.60  Y -40.29%

US Highland    P 0.23  C -45.24%  R 1.05 – 0.13  Y +76.92%

Viper    P 0.001  C N/A  R 0.0048 – 0.001  Y -50.77%

Confederate    P 0.33  C N/A  R 0.52 – 0.06  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 23.05  C +0.22%  R 29.80 – 20.67  Y -7.84%

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 21.60  C +4.1%  R 31.60 – 19.15  Y -20.44%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.48  C +1.05%  R 0.85 – 0.40  Y +3.23%

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

INDONESIA (rupiah)

Astra    P 6600  C N/A  R 8575 – 4975  Y -4.91%

Indomobil    P 2650  C -3.64%  R 4200 – 2610  Y -22.75%

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 94.12  C +0.32%  R 123.75 – 72.05  Y +16.73%

Daimler    P 76.01  C -0.69%  R 96.07 – 60.22  Y +28.04%

VW    P 117.25  C +0.34%  R 254.99 – 95.00  Y -28.79%

KTM    P 123.50  C N/A  R 141.00 – 99.69  Y +7.53%

Piaggio    P 2.33  C -0.68%  R 3.18 – 2.10  Y +5.56%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 390.00  C +0.03%  R 414.80 – 286.90  Y N/A 

Pak Suzuki    P 468.00  C +0.48%  R 493.00 – 327.00  Y N/A

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

INDIA (rupee)

Hero    P 2615.40  C -1.58%  R 3271.80 – 2251.30  Y -10.8%

Bajaj    P 2380.45  C -2.97%  R 2695.00 – 1912.50  Y -8.48%

TVS    P 296.45  C -0.03%  R 322.30 – 201.00  Y +23.48%  

Eicher    P 15,624.25  C -2.63%  R 21,620.00 – 13,250.00  Y +12.01% 

Mahindra    P 1251.40  C -1.02%  R 1442.05 – 1092.15  Y +0.58% 

Maharashtra    P 1322.75  C -2.41%  R 1523.95 – 785.85  Y +46.6% 

Scooters India    P 29.05  C -3.81%  R 38.85 – 21.75  Y +15.05% 

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 3999  C -0.62%  R 4499 – 3382.5  Y +10.01%

Yamaha    P 2884  C -0.72%  R 3245 – 2108  Y +18.47%

Suzuki    P 3883  C -0.94%  R 4780.5 – 3411.5  Y +7.68%

Kawasaki    P 487  C -1.81%  R 647 – 398  Y +5.61%

CHINA (yuan)

Qianjiang    P 10.97  C +10.03%  R 17.11 – 5.55  Y +60.61%

Zongshen    P 16.12  C -4.39%  R 30.15 – 7.75  Y +93.51%   

Sundiro    P 7.33  C -3.55%  R 12.69 – 4.70  Y +40.96%

Jialing    P 9.15  C -4.39%  R 16.34 – 5.27  Y +27.44%  

Lifan    P 15.05  C +3.15%  R 27.99 – 8.31  Y +71.31% 

Loncin    P 21.38  C -3.43%  R 39.48 – 12.82  Y +31.24%

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

Guangzhou Auto    P 24.15  C +1.73%  R 24.80 – 7.79  Y +208.78%

CHINA (Hong Kong dollar)

Jianshe    P 12.35  C -2.99%  R 19.99 – 6.85  Y +42.31% 

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 6.96  C -0.57%  R 7.93 – 6.46  Y -1.27%

Hong Leong    P 6.27  C +0.16%  R 6.30 – 4.05  Y +44.2%

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

SOUTH KOREA (won)

KR    P 1010  C -1.46%  R 1600 – 882  Y +9.19%

Daelim    P 71,600  C -0.14%  R 98,000 – 50,400  Y +0.72%

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.)