22 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICEs

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 22 April 2016.

Fairly weak first-quarter financial results for both Harley-Davidson and Polaris didn’t do either of them much harm and their shares recovered to finish respectively 4.6% and 5.1% up week-on-week. Against the background of a feeble 0.17% rise in New York’s S&P 500 index, that really wasn’t bad going.

The eurozone’s Eurofirst 300 was stronger, climbing by 1.6%, and every motorcycle-related stock improved. Biggest surprise was Volkswagen, which added an impressive 9.6% despite declaring an annual loss of £1.25bn midweek. That was because analysts had expected a much bigger £2.03bn plunge into the red as provisions for the diesel emissions scandal US pay-off were remorselessly cranked upwards.

In Japan, investors were smiling too in anticipation of more central bank monetary easing and the Nikkei 225 stacked on 4.3%. All four Japanese motorcycle brands benefited accordingly.

As for emerging markets, India should have been cheerful, given a 2.75% rise for the BSE Sensex 30 yardstick. But only two out of the major Indian bike producers — TVS and Eicher — enjoyed higher share prices. The rest fell. In China, the Shanghai Composite suffered its worst week for three months as corporate debt worries mounted, dropping by 3.83%. Every trading motorcycling stock followed that indicator into negativity.

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

USA (US dollar)

Harley-Davidson    P 48.57  C +1.12%  R 60.67 – 36.36  Y -12.81%

Polaris    P 100.55  C +2.82%  R 156.35 – 67.80  Y -27.65%

Arctic Cat    P 16.47  C +3.13%  R 37.76 – 8.90  Y -54.73%

US Highland    P 0.03  C -3.23%  R 1.05 – 0.03  Y -95.08%

Viper    P 0.0008  C N/A  R N/A  Y N/A 

Confederate    P 0.15  C N/A  R 0.33 – 0.08  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. Viper Powersports makes the Diamondback Super Cruiser. Confederate Motors makes Combat Fighter cruisers.

CANADA (Canadian dollar)

BRP    P 20.75  C +2.32%  R 29.80 – 13.76  Y -20.47%

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 20.85  C -1.18%  R 27.80 – 19.15  Y -23.35%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.42  C +1.2%  R 0.85 – 0.36  Y -16%

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

INDONESIA (rupiah)

Astra    P 7350  C -2.33%  R 8000 – 4975  Y -3.52%

Indomobil    P 1950  C -2.26%  R 4200 – 1860  Y -46.72%

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 82.95  C -0.52%  R 114.30 – 65.99  Y -22.68%

Daimler    P 62.80  C -4.86%  R 92.70 – 57.01  Y -23.97%

VW    P 136.61  C -1.26%  R 244.00 – 95.00 Y -39.93%

KTM    P 123.65  C N/A  R 130.00 – 99.69  Y +1.79%

Piaggio    P 1.97  C +1.92%  R 3.18 – 1.56  Y -25.35%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 389.00  C +1.15%  R 414.80 – 320.05  Y N/A

Pak Suzuki    P 399.00  C -0.63%  R 532.00 – 384.00  Y N/A

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

INDIA (rupee)

Hero    P 2997.05  C +0.36%  R 3172.00 – 2251.30  Y +30.63%

Bajaj    P 2522.15  C +1.03%  R 2656.00 – 1912.50  Y +31.55%

TVS    P 331.45  C +2.05%  R 340.90 – 201.00  Y +44.73% 

Eicher    P 20,169.95  C -0.78%  R 21,620.00 – 13,900.10  Y +37.77%

Mahindra    P 1326.00  C +1.33%  R 1442.05 – 1091.25  Y +14.19%

Maharashtra    P 1306.95  C +0.36%  R 1619.00 – 826.10  Y +63.08%

Scooters India    P 24.70  C -2.76%  R 35.05 – 21.75  Y -24.92%

Notes: Hero MotoCorp is an own-brand 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 now 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 3160  C +1.44%  R 4499 – 2726  Y -25.51%

Yamaha    P 2026  C +4.27%  R 3245 – 1581  Y -27.99%

Suzuki    P 3228  C +1.51%  R 4780.5 – 2662.5  Y -16.47%

Kawasaki    P 342  C +3.01%  R 647 – 269  Y -43.96%

CHINA (yuan)

Qianjiang    P 12.90  C -5.01%  R 17.11 – 5.55  Y +39.01%

Zongshen    P 10.19  C N/A  R 30.15 – 8.08  Y -48.81%  

Sundiro    P 5.71  C N/A  R 12.69 – 4.89  Y N/A [Trading halted]

Jialing    P 7.38  C N/A  R 16.34 – 5.27  Y N/A [Trading halted]

Lifan    P 10.79  C +0.75%  R 27.99 – 8.05  Y -24.97%

Loncin    P 17.12  C +1.3%  R 39.48 – 13.00  Y -24.7%

Linhai    P 11.36  C +1.43%  R 14.71 – 8.41  Y -19.94%

GAG    P 22.30  C 1.92%  R 24.85 – 11.03  Y +84.09%

CHINA (Hong Kong dollar)

Jianshe    P 16.16  C -1.94%  R 19.99 – 7.72  Y +59.06%

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 6.93  C -0.72%  R 7.93 – 6.48  Y -3.25%

Hong Leong    P 7.48  C +1.36%  R 7.50 – 4.40  Y +59.52%

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

SOUTH KOREA (won)

KR    P 1200  C +0.42%  R 1770 – 905  Y -5.51%

Daelim    P 88,200  C -5.77%  R 98,000 – 59,600  Y +3.74%

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.)