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HomeNEWSFINANCIAL14 OCTOBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

14 OCTOBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 14 October 2016.

 

Developed-world stock markets suffered another roller-coaster ride in the past week, fuelled by conflicting revelations appertaining to the US and Chinese economies. For the former, a weak consumer confidence survey covering September contrasted with news that retail sales during the month had actually strengthened. Likewise in China, where a sharp monthly fall in exports initially set growth-outlook alarm bells ringing and then resultant pessimism was countered by data showing recovery from producer price deflation for the first time in four years.

In America, some better-than-expected quarterly financial reports also boosted sentiment. But that didn’t do Harley-Davidson much good. With its third-quarter results imminent on 18 October, the share price continued to flat-line, 0.3% down week-on-week. Polaris is set to unveil a similar sob story on 25 October but got a 2.4% uplift on the back of acquiring huge off-road vehicle accessories distributor TransAmerican Autoparts, which should add about 15% to annual turnover. Overall, New York’s S&P 500 index dropped by 0.87%, although it was firmer on Friday.

In Europe, the Eurofirst 300 bounced upwards from a two-month low on Thursday to finish just 0.21% down. Germany’s triumvirate of big automotives basically stagnated. BMW was 0.6% in arrears while Daimler and VW made respective tiny gains of 0.4% and 0.7%. However, the Weiner Borse rewarded KTM with a 2.5% rise. No such luck for Piaggio in Milan, falling by 3.6% to claim the continental motorcycling dunce’s cap.

Conflicting indicators subdued Japan, where the Nikkei 225 average was almost dead flat, deteriorating by just 0.02%. On the one hand, a mercifully weaker yen was good. On the other, Chinese export woes were a bit too close to home (and China’s upbeat producer price recovery news arrived after many stockbrokers had departed for their weekend golfing engagements, or perhaps the Motegi MotoGP). Honda finished the positive side of flat. Kawasaki posted the negative version. Yamaha lost a trifle more while Suzuki made a measure of lonely progress.

In India, the BSE Sensex fell by 1.94% but local commentators noted that some leading motorcycle manufacturers bucked the trend by benefiting from an improvement in mainly rural consumption going into the Diwali festive season. (Turkey curry is served on 30 October.) Hero and TVS were on that guest list. Bajaj and Eicher weren’t. Hottest India biker property was the relatively small Maharashtra Scooters assembly operation. A buy-out rumour cranked up its share price by more than 11% on Friday, so it ended with a 15.6% weekly gain.

Finally, Chinese investors were resilient despite poor domestic indicators. Shanghai’s Composite index rose by 1.92%. The majority of listed motorcycle makers climbed, fronted as usual by Qianjiang. Only three — Sundiro, Guangzhou Auto and Jianshe — suffered minor declines.    

                                

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

 

USA (US dollar)

Harley-Davidson    P 49.83  C -1.17%  R 57.33 – 36.36  Y -7.29%

Polaris    P 75.79  C +0.45%  R 124.39 – 67.80  Y -36.48%

Arctic Cat    P 14.63  C +0.41%  R 25.60 – 8.90  Y -41.84%

US Highland    P 0.0003  C N/A  R 0.43 – 0.0003  Y N/A

Confederate    P 0.05  C -6%  R 0.33 – 0.05  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. Confederate Motors makes limited-edition cruisers.

 

CANADA (Canadian dollar)

BRP    P 26.00  C +0.12%  R 27.30 – 13.76  Y -0.27%

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 20.75  C -0.72%  R 23.90 – 19.80  Y -6.66%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.44  C +1.15%  R 0.53 – 0.36  Y -11.11%

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

 

INDONESIA (rupiah)

Astra    P 8325  C +1.52%  R 8875 – 5700  Y +35.33%

Indomobil    P 1375  C +3.38%  R 3005 – 1250  Y -53.93%

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 76.81  C +1.08%  R 104.85 – 63.38  Y -7.72%

Daimler    P 64.09  C +1.25%  R 85.50 – 50.83  Y -6.55%

VW    P 131.76  C +1.02%  R 146.50 – 106.65 Y +8.33%

KTM    P 4.15  C +0.7%  R 4.20 – 3.14  Y +25.23%

Piaggio    P 1.63  C -1.51%  R 2.50 – 1.45  Y -26.69%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 583.30  C +4.63%  R 585.37 – 337.50  Y N/A

Pak Suzuki    P 580.00  C -1.45%  R 595.00 – 363.01  Y N/A

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

 

INDIA (rupee)

Hero    P 3481.60  C -0.54%  R 3740.00 – 2375.00  Y +37.9%

Bajaj    P 2798.30  C -0.95%  R 3122.00 – 2171.95  Y +16.43%

TVS    P 390.45  C +1.4%  R 393.70 – 240.90  Y +59.12% 

Eicher    P 25,400.15  C -1.56%  R 26,641.30 – 14,800.00  Y +39.66%

Mahindra    P 1357.10  C -0.92%  R 1508.95 – 1091.25  Y +6.18%

Maharashtra    P 1853.20  C +11.36%  R 1928.15 – 971.25  Y +94.26%

Scooters India    P 40.00  C -1.36%  R 44.85 – 22.65  Y +37.69%

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 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 3070  C +0.69%  R 4142 – 2417  Y -18.2%

Yamaha    P 2164  C +0.46%  R 3045 – 1409  Y -20.26%

Suzuki    P 3579  C +1.99%  R 4103 – 2450  Y -8.25%

Kawasaki    P 293  C +0.34%  R 502 – 257  Y -35.88%

 

CHINA (yuan)

Qianjiang    P 19.00  C -1.71%  R 19.88 – 6.71  Y 119.4%

Zongshen    P 10.46  C -0.57%  R 18.20 – 8.08  Y -21.39%  

Sundiro    P 9.01  C -1.53%  R 9.94 – 5.61  Y +39.81%

Jialing    P 8.70  C -2.25%  R 10.99 – 5.67  Y +0.35%

Lifan    P 9.69  C -0.82%  R 19.47 – 8.05  Y -25.57%

Loncin    P 20.64  C -0.53%  R 25.52 – 14.80  Y +10.22%

Linhai    P 13.79  C +0.51%  R 14.71 – 8.41  Y N/A

GAG    P 22.14  C +0.27%  R 26.27 – 17.98  Y +12.21%

 

CHINA (Hong Kong dollar)

Jianshe    P 14.97  C -0.47%  R 19.20 – 11.25  Y N/A

Notes: Qianjiang owns Keeway and 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 6.89  C -1.29%  R 7.52 – 6.48  Y -0.63%

Hong Leong    P 9.30  C N/A  R 9.80 – 5.25  Y +67.16%

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

 

SOUTH KOREA (won)

KR    P 1065  C N/A  R 1770 – 905  Y -3.62%

Daelim    P 86,800  C +1.52%  R 94,300 – 62,000  Y +15.33%

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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