A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 14 February 2014.
We need to look east for brightest news hitting February’s mid-point. Chinese mainland markets in Shanghai and Shenzhen, represented by the CSI 300 index, surged to their biggest overall weekly advance in five months. All yuan-denominated shares in listed motorcycle manufacturers benefited from this investor optimism.
Star stock was Qiangjiang, now worth over 40 per cent more than a year ago and 8.2 per cent up week-on-week. Breaking news about Qianjiang commencing assembly of Benelli-branded CKD bike kits in Brazil may have helped.
In Japan, the Nikkei 225 index slumped at the end of the week after three bullish days, in response to mounting concerns about the yen’s return to resurgence against the US dollar, menacing export earnings. But Honda and Yamaha both rode that out with satisfactory weekly gains — the latter clearly scoring on its best full-year financial results announcement for some considerable time. However, both Suzuki and Kawasaki took early baths.
Far Eastern confidence was reflected on other regional markets with quoted bike stocks in Kuala Lumpur and Taipei performing well. The same could not be said, though, for Jakarta and Seoul.
The USA was also surprisingly upbeat with the Dow Jones, S&P 500 and NASDAQ indexes all brushing aside weaker economic data to renew bull runs. Industry-wise, both Polaris and Arctic Cat got beefier but Harley closed on exactly the same price as the previous Friday.
Price (P) High (H) Low (L) Change (C) 52-week range (R) One-year return (Y)
USA (US dollar)
Harley-Davidson P 64.98 H 65.00 L 64.21 C +0.34% R 70.04 – 49.15 Y +25.18%
Polaris P 132.12 H 132.99 L 129.52 C +1.41% R 146.99 – 82.80 Y +56.9%
Arctic Cat P 46.03 H 46.18 L 45.14 C +0.66% R 61.13 – 33.62 Y +28.28%
US Highland P 0.27 H N/A L N/A C N/A R 0.74 – 0.27 Y N/A
Viper P 0.0111 H 0.02 L 0.0111 C -63% R 0.10 – 0.001 Y -81.5%
Notes: Polaris makes ATVs, snowmobiles, Victory and Indian motorcycles. 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 27.76 H 28.21 L 27.34 C +1.24% R 30.88 – 21.50 Y N/A
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.
EUROPE (euro)
BMW P 86.10 H 86.36 L 85.19 C +0.64% R 86.88 – 63.27 Y +24.69%
Piaggio P 2.126 H 2.172 L 2.108 C +0.19% R 2.50 – 1.83 Y +14.91%
KTM P 72.50 H 72.50 L 72.50 C +2.3% R 80.02 – 49.20 Y +49.23%
VW P 195.50 H 195.80 L 192.35 C +1.46% R 198.43 – 131.30 Y +19.8%
Notes: Volkswagen is the owner of Ducati Motor Holding
INDIA (rupee)
Hero P 1937.30 H 1995.60 L 1912.20 C -1.53% R 2214.70 – 1434.05 Y +18.96%
Bajaj P 1839.60 H 1928.00 L 1818.00 C -3.32% R 2195.00 – 1656.00 Y -4.4%
TVS P 80.30 H 81.55 L 78.30 C N/A R 88.20 – 28.10 Y +108.05%
Eicher P 4849.50 H 4940.00 L 4810.00 C +0.64% R 5340.00 – 2501.00 Y +83.67%
Mahindra P 904.40 H 914.00 L 886.65 C -0.25% R 1025.87 – 740.15 Y +2.21%
Maharashtra P 428.80 H 436.00 L 413.70 C +1.12% R 504.00 – 305.00 Y +6.81%
Scooters India P 14.45 H 15.30 L 14.25 C -3.34% R 30.50 – 13.50 Y -49.65%
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 260.00 H 266.99 L 260.00 C -2.62% R 299.00 – 136.00 Y N/A
Pak Suzuki P 159.00 H 162.00 L 159.00 C -1.47% R 174.00 – 96.60 Y N/A
Notes: Atlas Honda and Pak Suzuki are JV motorcycle assembly and distribution partners.
JAPAN (yen)
Honda P 3713 H 3830 L 3698 C -1.07% R 4405 – 3330 Y +9.71%
Yamaha P 1377 H 1414 L 1351 C -1.85% R 1825 – 1025 Y +31.77%
Suzuki P 2545 H 2620 L 2511 C -2.83% R 2982 – 2049 Y +10.66%
Kawasaki P 416 H 425 L 411 C -0.95% R 496 – 262 Y +54.34%
CHINA (yuan)
Qianjiang P 5.95 H 6.15 L 583 C +2.06% R 6.17 – 4.24 Y +42.19%
Qingqi P 3.83 H 3.84 L 3.73 C +2.68% R 5.19 – 3.34 Y N/A
Zongshen P 5.19 H 5.22 L 4.94 C +4.22% R 6.02 – 3.92 Y -11.47%
Sundiro P 3.95 H 3.99 L 3.87 C +0.51% R 5.23 – 3.37 Y -22.26%
Jialing P 3.79 H 3.85 L 3.68 C +0.26% R 4.68 – 2.90 Y -0.79%
Lifan P 6.67 H 6.68 L 6.49 C +2.46% R 7.64 – 5.11 Y +1.28%
Loncin P 10.56 H 10.75 L 10.12 C +4.04% R 11.06 – 6.78 Y +17.69%
Linhai P 5.75 H 5.77 L 5.25 C +8.9% R 6.59 – 4.42 Y -1.03%
CHINA (Hong Kong dollar)
Jianshe P 5.43 H 5.52 L 5.40 C -1.27% R 6.80 – 5.16 Y N/A
Guangzhou Auto P 7.59 H 7.75 L 7.53 C +0.4% R 10.94 – 5.59 Y +14.2%
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 0.52 H 0.52 L 0.51 C +4% R 0.91 – 0.45 Y –42.86%
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 51.20 H 51.70 L 50.00 C +2.4% R 55.30 – 22.30 Y +131.11%
Notes: Sanyang Industry is the leading Taiwanese powered two-wheeler manufacturer through its widely-exported SYM brand.
MALAYSIA (ringgit)
Oriental Holdings P 8.05 H 8.16 L 8.03 C -0.98% R 10.64 – 7.62 Y -4.53%
Hong Leong P 6.50 H 6.61 L 6.50 C N/A R 6.62 – 3.98 Y +61.2%
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 6700 H 6750 L 6650 C +0.75% R 8300 – 5100 Y -10.92%
Notes: Astra International is a Honda JV partner.
SOUTH KOREA (won)
S&T P 606 H 635 L 601 C -4.11% R 689 – 414 Y +30.04%
Daelim P 87,000 H 87,900 L 85,600 C +1.64% R 110,000 – 69,900 Y -5.43%
Notes: 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.
