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HomeNEWSFINANCIAL16 May - motorcycle industry share price guide

16 May – motorcycle industry share price guide

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 16 May 2014.

A rollercoaster ride in Western markets this week with the S&P 500 index in New York hitting an all-time high on Tuesday only to finish negative by Friday. Harley more-or-less held position but Polaris dropped three per cent over five days of trading. Biggest loser was Arctic Cat, down by 13.3 per cent. That, however, was mostly to do with a fairly lamentable set of full-year financial results released mid-week, as the company struggles to factor in shrivelled margins from bulking out its production volume with Yamaha contract assembly.

Pretty much the same story in Europe, where the FTSE Eurofirst 300 reached a six-year high before retreating to a mere 0.5 per cent weekly gain. Italian stocks fell by a 3.5 per cent average, responding to news that the country’s economy had contracted in the first quarter. Piaggio was marginally on the bright side, down by 3.4 per cent.

A resounding victory for free-enterprise-friendly Narendra Modi’s BJP party in the Indian general election clearly cheered Bombay Stock Exchange investors. Share prices for the three largest indigenous motorcycle manufacturers, Hero MotoCorp, Bajaj Auto and TVS Motor, blossomed accordingly. Hero and TVS both hit new annual peaks.

Japan’s Nikkei 225 index fell for a second successive week as the yen crept upwards steadily against other leading currencies, chilling market confidence. Nevertheless, three of its Big Four bike producers showed minor gains. Only Kawasaki lost ground.

China was flat, with almost all motorcycle manufacturers posting slight declines. More torrid action was to be found in its next-door neighbour Vietnam where anti-Chinese rioters uninhibited by government intervention were busy smashing up factories with any possible link to China. This also impinged on Taiwanese-related businesses and SYM’s Vietnamese joint-venture partner VMEPH was among the victims. Its share price on the Hong Kong exchange therefore took an 11.7 per cent dive week-on-week.      
 


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


USA (US dollar)

Harley-Davidson    P 72.01  H 72.03  L 70.34  C +1.39%  R 74.13 – 49.15  Y +22.82%

Polaris    P 128.41  H 128.91  L 126.10  C +0.75%  R 146.99 – 90.50  Y +42.51%

Arctic Cat    P 33.47  H 34.27  L 32.645  C -1.41%  R 61.13 – 31.95  Y -28.1%

US Highland    P 0.22  H 0.22  L 0.22  C N/A  R 0.36 – 0.22  Y N/A

Viper    P 0.023  H 0.023  L 0.023  C +15%  R 0.10 – 0.001  Y N/A

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 29.08  H 29.20  L 28.73  C -0.41%  R 31.98 – 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 — most recently Buell’s EBR superbike.
 


EUROPE (euro)

BMW    P 86.44  H 86.98  L 85.55  C -2.37%  R 94.39 – 63.82  Y +23.48%

Piaggio    P 2.656  H 2.69  L 2.60  C +1.14%  R 3.092 – 1.871  Y +26.06%

KTM    P 83.50  H 83.50  L 82.00  C +1.21%  R 84.00 – 50.15  Y +55.04%

VW    P 185.76  H 187.05  L 184.03  C +1.01%  R 198.43 – 142.05  Y +18.54%

Notes: Volkswagen is the owner of Ducati Motor Holding
 


INDIA (rupee)

Hero    P 2397.65  H 2787.70  L 2381.00  C -1.77%  R 2787.70 – 1563.60  Y +46.85%

Bajaj    P 1931.70  H 2094.70  L 1908.00  C -0.96%  R 2195.00 – 1680.05  Y +7.97%

TVS    P 116.40  H 123.40  L 110.40  C -2.55%  R 125.50 – 28.10  Y +203.05%  

Eicher    P 6346.75  H 6570.00  L 6215.60  C -0.08%  R 6767.70 – 2965.00  Y +85.01%

Mahindra    P 1114.70  H 1183.90  L 1101.00  C +0.92%  R 1183.90 – 740.15  Y +14.58%

Maharashtra    P 488.55  H 502.00  L 486.00  C +0.03%  R 545.90 – 326.65  Y +23.51%

Scooters India    P 20.35  H 20.35  L 19.05  C +4.9%  R 24.20 – 13.50  Y -8.54%

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 253.89  H 253.95  L 250.00  C +0.06%  R 328.00 – 180.00  Y N/A

Pak Suzuki    P 200.10  H 204.50  L 199.75  C -0.25%  R 232.64 – 119.00  Y N/A

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


JAPAN (yen)

Honda    P 3358  H 3360  L 3324  C -0.91%  R 4405 – 3292  Y -17.9%

Yamaha    P 1610  H 1640  L 1592  C -2.72%  R 1825 – 1217  Y +5.56%

Suzuki    P 2798  H 2815  L 2720  C +0.76%  R 2982 – 2051  Y +0.3%

Kawasaki    P 371  H 375  L 368  C -1.59%  R 496 – 283  Y +1.88%
 


CHINA (yuan)

Qianjiang    P 5.20  H 5.20  L 5.12  C +0.39%  R 6.54 – 4.27  Y +7.23%

Qingqi    P 3.78  H 3.80  L 3.71  C -0.53%  R 5.19 – 3.34  Y N/A

Zongshen    P 4.98  H 5.02  L 4.92  C -0.6%  R 5.77 – 3.92  Y -1.59%   

Sundiro    P 3.72  H 3.73  L 3.68  C +0.81%  R 4.84 – 3.37  Y -17.13%

Jialing    P 4.21  H 4.28  L 4.09  C -0.94%  R 5.00 – 2.90  Y +16.3%  

Lifan    P 6.44  H 6.52  L 6.34  C N/A  R 7.64 – 5.11  Y +2.92%

Loncin    P 8.42  H 8.60  L 8.30  C -1.64%  R 11.10 – 6.78  Y -13.91%

Linhai    P 5.61  H 5.79  L 5.47  C -2.6%  R 7.00 – 4.42  Y -3.61%

 


CHINA (Hong Kong dollar)

Jianshe    P 5.72  H 5.77  L 5.65  C N/A  R 6.80 – 5.16  Y N/A  

Guangzhou Auto    P 7.61  H 7.64  L 7.54  C N/A  R 10.94 – 6.48  Y +2.2%

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 0.415  H 0.445  L 0.41  C -7.78%  R 0.68 – 0.41  Y –38.06%

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 26.30  H 26.85  L 26.20  C +0.38%  R 63.00 – 25.00  Y -0.9%

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


MALAYSIA (ringgit)

Oriental Holdings    P 7.70  H 7.74  L 7.70  C -0.39%  R 10.56 – 6.95  Y -25.76%

Hong Leong    P 6.55  H 6.60  L 6.50  C -0.46%  R 6.80 – 4.35  Y +56.63%

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 7675  H 7675  L 7550  C +1.32%  R 8050 – 5100  Y +12.18%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is Jardine Matheson Holdings, a British-managed conglomerate domiciled in Hong Kong.
 


SOUTH KOREA (won)

KR    P 1100  H 1115  L 1040  C +1.85%  R 1495 – 414  Y +124.95%

Daelim    P 84,000  H 84,000  L 82,900  C +0.6%  R 110,000 – 77,000  Y -3.79%

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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