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HomeNEWSFINANCIAL16 SEPTEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

16 SEPTEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 16 September 2016.

 

A return to global volatility in the past week was mainly driven by uncertainties about central bank monetary policies in advance of meetings next week at the US Federal Reserve and the Bank of Japan. Crude oil prices sinking yet again didn’t help. West Texas Intermediate dropped to $43.03 a barrel and Brent Light was $45.77, both some way under recent surges above 50 bucks.

Although New York’s S&P 500 index finished 0.46% up, it had been behaving like a yo-yo all week, so there were a variety of winners and losers when the music stopped on Friday. Harley-Davidson was a pointed example, rising on Monday and Tuesday before falling back almost to the previous Friday’s close on Wednesday. It then recovered to finish 2.2% up. No such luck for Polaris, though, because it was also hit by a downwardly revised annual earnings forecast announcement after yet another major ATV recall. That provoked a 12.8% weekly share decline.

European equities markets were more consistently gloomy as both the Eurofirst 300 and Euro Stoxx 600 indices sank by 2.23%. Every motorcycle-related share price fell. In Germany, BMW and Daimler were respectively 3.6% and 3.7% down. VW did a bit better, losing only 2.4%. Austrian champion KTM went backwards by 1.2%. Piaggio took the biggest kicking in Milan with a 7.3% loss.

Lack of any monetary easing likelihood in Japan knocked investor confidence and Tokyo’s Nikkei 225 retreated by 2.63%. All four bike producers there took similar punishment during a biggest weekly decline since early July.

Leading emerging nations were more chalk than cheese too. The consensus among Indian motorcycle manufacturers was negative with both top rankers Hero MotoCorp and Bajaj on the back foot as Mumbai’s BSE Sensex dropped by 1.54%. However, TVS and Royal Enfield parent Eicher both blithely ignored that trend and boasted modest improvements.

Despite encouraging signals on China’s economy, Shanghai’s Composite was 2.13% in arrears while the Shenzhen index fared worse, falling by 3.54%. The vast majority of Chinese biker shares obediently sank with a couple at least remaining flat (Honda JV partners Sundiro and Guangzhou Auto). Odd man out was Benelli parent Qianjiang, of course, hanging onto status as the hottest motorcycling investment proposition worldwide thanks to a weekly rise of 3.6% and annualised return on investment of 166.4%.    

                                 

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

 

USA (US dollar)

Harley-Davidson    P 51.70  C +0.51%  R 57.33 – 36.36  Y -2.06%

Polaris    P 70.50  C -1.8%  R 131.50 – 67.80  Y -43.08%

Arctic Cat    P 14.07  C -2.16%  R 25.73 – 8.90  Y -42.59%

US Highland    P 0.0007  C -12.5%  R 0.65 – 0.0006  Y N/A

Confederate    P 0.06  C N/A  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 Combat Fighter cruiser.

 

CANADA (Canadian dollar)

BRP    P 26.04  C +1.24%  R 27.60 – 13.76  Y -0.42%

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 21.40  C +1.18%  R 24.35 – 19.80  Y -6.74%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.43  C N/A  R 0.53 – 0.36  Y -5.56%

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

 

INDONESIA (rupiah)

Astra    P 7975  C -2.15%  R 8650 – 4975  Y +41.66%

Indomobil    P 1385  C -1.77%  R 3100 – 1250  Y -48.36%

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 73.53  C -2.42%  R 104.85 – 63.38  Y -10.69%

Daimler    P 60.59  C -2.06%  R 85.50 – 50.83  Y -11.9%

VW    P 127.49  C -2.03%  R 169.05 – 95.00 Y -20.83%

KTM    P 4.00  C +0.03%  R 4.09 – 3.05  Y +16.85%

Piaggio    P 1.66  C -1.31%  R 2.50 – 1.45  Y -26.36%

Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati. KTM owner Cross has changed its name and ticker to KTM Industries.

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 489.00  C +1.47%  R 492.00 – 320.05  Y N/A

Pak Suzuki    P 541.00  C +4.12%  R 545.00 – 363.01  Y N/A

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

 

INDIA (rupee)

Hero    P 3588.70  C +1.85%  R 3740.00 – 2301.60  Y +51.25%

Bajaj    P 2981.60  C +1.7%  R 3122.00 – 2171.95  Y +32.91%

TVS    P 338.35  C +5.01%  R 342.50 – 224.00  Y +44.73% 

Eicher    P 23,135.25  C +3.1%  R 23,572.95 – 14,800.00  Y +27.57%

Mahindra    P 1406.65  C +0.03%  R 1508.95 – 1091.25  Y +18.28%

Maharashtra    P 1485.45  C +1.72%  R 1694.95 – 936.60  Y +55.08%

Scooters India    P 34.75  C +4.98%  R 43.00 – 22.65  Y +41.84%

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 2983.5  C +0.05%  R 4142 – 2417  Y -19.28%

Yamaha    P 1968  C +0.51%  R 3045 – 1409  Y -17.15%

Suzuki    P 3461  C +1.94%  R 4103 – 2450  Y -9.44%

Kawasaki    P 315  C +2.27%  R 502 – 257  Y -30.11%

 

CHINA (yuan)

Qianjiang    P 16.89  C +1.75%  R 17.78 – 6.10  Y +166.4%

Zongshen    P 9.53  C -0.63%  R 18.20 – 8.08  Y +2.26%  

Sundiro    P 9.56  C +4.25%  R 9.87 – 5.53  Y N/A

Jialing    P 6.98  C N/A  R 10.99 – 5.67  Y -2.92%

Lifan    P 9.83  C -1.99%  R 19.47 – 8.05  Y +8.35%

Loncin    P 20.18  C -1.13%  R 25.52 – 14.30  Y +37.68%

Linhai    P 12.38  C N/A  R 14.71 – 8.41  Y N/A

GAG    P 23.47  C +1.03%  R 26.27 – 17.65  Y +26.05%

 

CHINA (Hong Kong dollar)

Jianshe    P 13.97  C +2.27%  R 19.20 – 11.25  Y N/A

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 6.63  C -2.5%  R 7.52 – 6.48  Y -1.07%

Hong Leong    P 8.99  C -0.11%  R 9.80 – 5.03  Y +73%

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

 

SOUTH KOREA (won)

KR    P 1080  C +0.93%  R 1770 – 905  Y +7.46%

Daelim    P 76,700  C -0.78%  R 94,300 – 62,000  Y +8.2%

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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