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HomeNEWSFINANCIAL20 MARCH: WEEKLY MOTORCYCLE INDUSTRY SHARE GUIDE

20 MARCH: WEEKLY MOTORCYCLE INDUSTRY SHARE GUIDE

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday, 20 March 2015.

A soothing mid-week statement from the US Federal Reserve undermined the dollar’s inconvenient strength for American exporters. Allied to some oil-price rebound, that boosted investor optimism and pushed up New York’s S&P 500 index by nearly three per cent by Friday. Harley-Davidson’s stock recovered slightly from its recent decline with that trend. But, surprisingly, Polaris suffered a weekly fall of just over three per cent. That could have been a expression of investor annoyance at latest revelations about Polaris chief executive Scott Wine’s somewhat over-lavish salary and share-option perks.

In Europe, the eurozone’s FTSE Eurofirst 300 rose by two per cent and Frankfurt’s Xetra Dax index reclaimed the dizzying heights of its best post-crisis peak. However, both BMW and Daimler bucked that largesse with weekly declines and Volkswagen was almost flat. In Milan, on the Borsa Italia, Piaggio dropped sharply by 6.5%.

Indian gloom continued and the BSE Sensex 30 plunged to a monthly negative of 4%, worsening from 1% in the previous week. Four out of that country’s five major motorcycle manufacturers experienced further share price drops with only Eicher achieving a small measure of recovery.

The Nikkei 225 in Tokyo climbed by 1.6% to its sixth successive weekly advance but trading was described as “choppy”. Suzuki and Kawasaki posted improvements. Honda and Yamaha lost ground.

Boisterous Chinese investor behaviour saw virtually every listed bike producer in China boasting often-substantial gains with only one minor exception. Top earners were led by Zongshen, which stacked on a seriously impressive 26.7%. Lifan and Loncin both also had double-digit percentage price growth. Qianjiang was close behind with more than eight per cent.

 

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

USA (US dollar)

Harley-Davidson    P 61.94  H 62.09  L 61.26  C +1.24%  R 74.13 – 54.22  Y -6.88%

Polaris    P 143.26  H 148.16  L 142.76  C -2.6%  R 159.33 – 124.728  Y +4.16%

Arctic Cat    P 37.41  H 37.69  L 36.72  C +0.38%  R 49.69 – 26.00  Y -22.82%

US Highland    P 0.52  H 0.52  L 0.52  C N/A  R 0.60 – 0.13  Y N/A

Viper    P 0.0025  H 0.0025  L 0.0025  C -16.67%  R 0.044 – 0.0012  Y N/A

Notes: Polaris makes Victory and Indian motorcycles, ATVs, snowmobiles, quadricycles and EVs. 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 24.29  H 24.80  L 23.56  C +2.19%  R 31.98 – 20.67  Y -18.65%

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 117.013  H 118.35  L 116.10  C +0.17%  R 123.75 – 74.74  Y +37.67%

Daimler    P 91.766  H 91.961  L 90.29  C +1.67%  R 96.07 – 55.10  Y +44.91%

Piaggio    P 2.788  H 2.84  L 2.786  C -0.43%  R 3.092 – 1.93  Y +11.97%

KTM    P 130.20  H 132.80  L 130.20  C -1.51%  R 141.00 – 71.50  Y +77.44%

VW    P 24.922  H 245.35  L 237.375  C +0.5%  R 254.99 – 147.35  Y +41.43%

Notes: Daimler has a 25 per cent stake in MV Agusta through its AMG-Mercedes subsidiary. Volkswagen is the owner of Ducati Motor Holding

 

INDIA (rupee)

Hero    P 2609.95  H 2666.00  L 2603.20  C -1.98%  R 3271.80 – 2055.85  Y +30.69%

Bajaj    P 2017.85  H 2035.00  L 2007.25  C -0.37%  R 2695.00 – 1840.10  Y +4.07%

TVS    P 268.45  H 274.00  L 264.30  C -1.79%  R 322.30 – 84.00  Y +173.73% 

Eicher    P 16,017.50  H 16,182.70  L 15,920.65  C -0.58%  R 17,200.00 – 5640.00  Y +180.99%

Mahindra    P 1165.30  H 1206.00  L 1153.90  C -3.49%  R 1433.70 – 951.66  Y +21.07%

Maharashtra    P 889.45  H 934.40  L 876.00  C -0.41%  R 1124.00 – 442.50  Y +98.13%

Scooters India    P 29.70  H 30.80  L 28.00  C +0.85%  R 38.85 – 14.55  Y +91%

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 an own-brand motorcycle range and a majority stake in French scooter brand Peugeot. 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 365.28  H 365.29  L 358.00  C +5%  R 405.30 – 209.00  Y N/A

Pak Suzuki    P 399.02  H 402.89  L 397.25  C +1.12%  R 450.85 – 181.00  Y N/A

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

 

JAPAN (yen)

Honda    P 4116.5  H 4116.5  L 4060  C +0.7%  R 4170 – 3239  Y +19.28%

Yamaha    P 2929  H 2933  L 2885  C +1.77%  R 3145 – 1506  Y +96.21%

Suzuki    P 3645  H 3665  L 3611  C -0.95%  R 4041 – 2526  Y +44.03%

Kawasaki    P 625  H 634  L 618  C -0.64%  R 647 – 350  Y +72.32%

 

CHINA (yuan)

Qianjiang    P 7.83  H 8.16  L 7.75  C N/A  R 8.16 – 4.90  Y +38.58%

Zongshen    P 15.35  H 15.39  L 14.80  C +0.13%  R 15.53 – 4.37  Y +213.23%  

Sundiro    P 6.15  H 6.22  L 6.02  C +1.49%  R 6.26 – 3.61  Y +57.74%

Jialing    P 9.12  H 9.45  L 9.06  C -1.41%  R 9.45 – 3.55  Y +147.15% 

Lifan    P 11.90  H 12.07  L 11.40  C +3.57%  R 12.07 – 6.33  Y +81.32%

Loncin    P 18.48  H 18.50  L 17.50  C +4.29%  R 18.81 – 8.24  Y 102.17%

Linhai    P 10.85  H 10.98  L 10.65  C +0.09%  R 11.39 – 5.43  Y +95.77%

 

CHINA (Hong Kong dollar)

Jianshe    P 7.66  H 7.67  L 7.61  C +0.39%  R 9.40 – 5.41  Y +27.45% 

Guangzhou Auto    P 7.19  H 7.42  L 7.13  C -0.96%  R 9.87 – 6.58  Y -3.54%

Notes: Qianjiang owns both the exported Keeway brand and the formerly Italian Benelli brand. 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 0.45  H 0.45  L 0.45  C N/A  R 0.69 – 0.40  Y -13.46%

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 27.00  H 27.15  L 26.90  C +0.19%  R 52.10 – 25.20  Y -43.63%

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

 

MALAYSIA (ringgit)

Oriental Holdings    P 6.82  H 6.90  L 6.82  C -0.87%  R 8.10 – 6.48  Y -4.27%

Hong Leong    P 4.42  H 4.43  L 4.41  C -0.45%  R 7.543 – 3.95  Y -16.78%

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 8100  H 8150  L 7975  C +0.62%  R 8175 – 6325  Y +13.56%

Indomobil    P 3990  H 3990  L 3990  C -0.25%  R 5200 – 3050  Y N/A

Notes: Astra International is a Honda JV partner. Its controlling shareholder is Jardine Matheson Holdings, a British-managed conglomerate domiciled in Hong Kong. Indomobil Sukses Internasional is a Suzuki motorcycle manufacturing and distribution JV partner, producing about 350,000 bikes annually.

 

SOUTH KOREA (won)

KR    P 1350  H 1350  L 1295  C +2.66%  R 1495 – 599  Y +110.94%

Daelim    P 65,300  H 67,300  L 65,200  C -1.95%  R 94,300 – 50,400  Y -18.86%

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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