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HomeNEWSFINANCIAL17 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

17 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 17 April 2015.

Most markets got the miseries for varying reasons this week. In the US, some weaker economic performance data allied with nervousness about imminent quarterly financial reporting pushed Wall Street indices negative. Among those, the S&P 500 fell by 0.9%. Many stocks fared worse than that, including Harley-Davidson, which dropped by 3.1%. Forthcoming quarterly confessions also affected Japan, with a 1.3% weekly retreat for the Nikkei 225 index. Yamaha and Kawasaki were both losers.

Depression in Europe was driven by well-founded suspicions that Greece is finally entering the twilight zone. Unless substantial rabbits are pulled out of hats, the Greeks are likely to declare a debt default next month and push the eurozone into chaos. That hit indices across the continent. The Eurofirst 300 declined by 2.3% and Frankfurt’s Xtra Dax suffered a steeper slide. Every motorcycle-related manufacturer felt that pain. BMW experienced the most severe weekly fall among the three big German automotives, down by 5.8%. In Milan, Piaggio lost 4.3%. Record quarterly results released on Friday morning were too late to save KTM from posting weekly negativity as well, although its share price did bounce back by a couple of percentage points when that good news reached investors’ ears.

India was rattled by an entirely different subect. The Indian tax authorities are ramping up their vendetta against overseas investors who had previously been exempt from domestic corporate taxation, slapping monumental back-dated bills on desks and potentially provoking a deleterious foreign capital exit. The Bombay Stock Exchange’s Sensex 30 index documented local reaction by dropping, as did share prices of all five major indigenous bike producers. Royal Enfield parent Eicher took the worst hit, falling by 5.7%.

However, China’s bizarre bull run was unabated. The Shanghai Composite index climbed by almost 7% week-on-week and has now more than doubled over the past 12 months. Most listed Chinese motorcycle makers basked in this sunshine. Star performers were Zongshen and Loncin, respectively up by 15.8% and 13.7%. Again, investors blithely ignored reality as regards Yamaha JV partner Jianshe. At the beginning of the week, this company revealed its shabby sales figures for March — plunging downwards by a stonking 39.2% to 53,508 bikes. Was it punished for such misfortune? No. Jianshe’s share price made a weekly gain of 7.2%.   

           

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

 

USA (US dollar)

Harley-Davidson    P 60.60  C -1.8%  R 74.13 – 54.22  Y -7.5%

Polaris    P 142.55  C +0.47%  R 159.33 – 124.728  Y +6.71%

Arctic Cat    P 37.66  C +0.88%  R 43.38 – 26.00  Y -9.73%

US Highland    P 0.60  C +15.38%  R 0.60 – 0.13  Y N/A

Viper    P 0.0015  C -54.55%  R 0.03 – 0.0012  Y -90.63%

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.

 

CANADA (Canadian dollar)

BRP    P 25.92  C N/A  R 30.24 – 20.67  Y -12.25%

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 27.30  C -2.15%  R 37.75 – 25.20  Y -21.55%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.50  C +1.01%  R 0.69 – 0.40  Y +2.04%

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

 

INDONESIA (rupiah)

Astra    P 7975  C -0.93%  R 8575 – 6325  Y +5.02%

Indomobil    P 3660  C -8.5%  R 5025 – 3050  Y -24.3%

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 110.261  C -2.34%  R 123.75 – 74.74  Y +22.76%

Daimler    P 84.445  C -2.68%  R 96.07 – 55.10  Y +28.1%

VW    P 225.137  C -0.91%  R 254.99 – 147.35  Y +19.97%

KTM    P 127.90  C +2.12%  R 141.00 – 79.00  Y +54.11%

Piaggio    P 2.756  C -1.92%  R 3.092 – 1.93  Y +0.71%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 399.00  C +1.79%  R 405.30 – 209.00  Y N/A

Pak Suzuki    P 396.50  C -1.08%  R 450.85 – 187.00  Y N/A

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

 

INDIA (rupee)

Hero    P 2410.50  C -0.81%  R 3271.80 – 2110.00  Y +12.65%

Bajaj    P 2065.30  C -1.09%  R 2695.00 – 1840.10  Y +4.67%

TVS    P 244.45  C -0.1%  R 322.30 – 84.00  Y +178.97% 

Eicher    P 15,311.10  C -3.32%  R 17,200.00 – 5900.00  Y +161.61%

Mahindra    P 1224.50  C -0.33%  R 1433.70 – 990.99  Y +24.28%

Maharashtra    P 897.80  C +0.01%  R 1124.00 – 462.65  Y +94.31%

Scooters India    P 31.90  C +0.16%  R 38.85 – 17.05  Y +75.27%

Notes: Hero MotoCorp is a former Honda JV partner. Bajaj a major shareholding in KTM and ties with it and Kawasaki. TVS is a former Suzuki JV partner. 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 4228  C +0.32%  R 4303 – 3239  Y +26.32%

Yamaha    P 2890  C -2.56%  R 3145 – 1506  Y +76.12%

Suzuki    P 3789  C -0.6%  R 4041 – 2526  Y +33.86%

Kawasaki    P 607  C -0.82%  R 647 – 350  Y +65.72%

 

CHINA (yuan)

Qianjiang    P 8.98  C -1.21%  R 9.92 – 4.90  Y +61.51%

Zongshen    P 19.68  C +1.08%  R 20.18 – 4.37  Y +269.38%  

Sundiro    P 7.06  C +2.02%  R 7.64 – 3.61  Y +78.8%

Jialing    P 10.24  C +1.19%  R 11.00 – 4.03  Y +142.65% 

Lifan    P 14.09  C -0.7%  R 15.03 – 6.33  Y +106.5%

Loncin    P 22.09  C +10.01%  R 22.09 – 8.24  Y 130.35%

Linhai    P 13.37  C -4.09%  R 14.29 – 5.47  Y +107.42%

 

CHINA (Hong Kong dollar)

Jianshe    P 10.61  C -1.94%  R 11.98 – 5.41  Y +84.84% 

Guangzhou Auto    P 8.60  C -0.92%  R 9.87 – 6.58  Y +1.69%

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 6.90  C +0.88%  R 8.10 – 6.48  Y -7.78%

Hong Leong    P 4.72  C +1.51%  R 7.543 – 3.95  Y -10.99%

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

 

SOUTH KOREA (won)

KR    P 1400  C -5.41%  R 1600 – 780  Y +23.89%

Daelim    P 77,700  C +0.13%  R 94,300 – 50,400  Y -6.69%

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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