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HomeNEWSFINANCIAL23 OCTOBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

23 OCTOBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 23 October 2015.

A combination of strong quarterly reports from many companies, global optimism about central bank support and a Chinese interest rate cut boosted US and European stocks to their highest levels in the past couple of months, provoking confidence elsewhere. 

All of the indices in both developed and emerging markets reflected that. New York’s S&P 500 was up by 1.64% week-on-week and the eurozone’s Eurofirst 300 bettered it with a 3.84% rise. In Japan, the Nikkei 225 added 2.92% while both the Shanghai Composite and Hang Seng in Hong Kong were similarly positive.

However, motorcycling shares didn’t necessarily follow the herd. Release of particularly shabby third-quarter results by Harley-Davidson on Tuesday hammered its price, causing a most severe one-day decline since the 2008 financial crisis. Harley finished the week 14% down. Polaris, which had an excellent quarter with higher revenue and profits than Harley announced on the following day, earned “buy” recommendations from analysts and should have benefited mightily. But investors were clearly spooked by warnings of challenging conditions in the powersports sector and it got a kicking too, dropping by almost 10%.

European punters were more forgiving and all three big bike-related German automotives gained ground — two of them impressively outpacing Eurofirst’s average. These were BMW, which put on 7.7%, and a star 9% uptick for Daimler. VW, still mired in its emissions scandal, managed a 0.6% improvement. Elsewhere on the continent, KTM and Piaggio were flat.

With only one or two very marginal exceptions, bike manufacturers in India and Japan followed index trends and enjoyed rising stock values. Although China split 50-50 between winners and losers, these were stable trades mercifully avoiding a return to volatile price movements.                          

           

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

 

USA (US dollar)

Harley-Davidson    P 48.20  C +0.19%  R 70.41 – 46.47  Y -22.36%

Polaris    P 110.33  C +0.35%  R 159.33 – 104.10  Y -23.45%

Arctic Cat    P 19.90  C +19.59%  R 39.72 – 16.60  Y -37%

US Highland    P 0.42  C N/A  R 1.05 – 0.13  Y N/A

Viper    P 0.001  C N/A  R 0.0048 – 0.001  Y N/A

Confederate    P 0.30  C +20%  R 0.52 – 0.06  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 23.22  C -3.25%  R 29.80 – 20.67  Y -4.56%

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 22.15  C -0.23%  R 31.60 – 19.15  Y -18.86%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.48  C -1.03%  R 0.85 – 0.40  Y -1.03%

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

 

INDONESIA (rupiah)

Astra    P 6300  C +1.61%  R 8575 – 4975  Y -1.32%

Indomobil    P 2970  C -1%  R 4200 – 2610  Y -25.54%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is British conglomerate Jardine Matheson. Indomobil Sukses International is a Suzuki JV partner.

 

EUROPE (euro)

BMW    P 93.56  C +3.11%  R 123.75 – 72.05  Y +16.8%

Daimler    P 78.86  C +3.47%  R 96.07 – 58.70  Y +34.66%

VW    P 122.51  C -1.39%  R 254.99 – 95.00  Y -22.35%

KTM    P 120.00  C N/A  R 141.00 – 99.69  Y +11.82%

Piaggio    P 2.28  C +1.15%  R 3.18 – 2.10  Y +7.38%

Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati and a 20% stake in Suzuki.

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 344.99  C +1.47%  R 409.00 – 285.61  Y N/A 

Pak Suzuki    P 440.00  C +0.61%  R 493.00 – 303.30  Y N/A

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

 

INDIA (rupee)

Hero    P 2596.05  C -1.02%  R 3271.80 – 2251.30  Y -15.6%

Bajaj    P 2515.65  C -0.13%  R 2695.00 – 1912.50  Y +1.42%

TVS    P 250.30  C -1.16%  R 322.30 – 201.00  Y -1.26%  

Eicher    P 18,158.65  C -0.28%  R 21,620.00 – 11,501.10  Y +53.19% 

Mahindra    P 1246.65  C -0.8%  R 1442.05 – 1092.15  Y -0.42% 

Maharashtra    P 1022.25  C +3.34%  R 1200.00 – 785.85  Y +13.04% 

Scooters India    P 29.30  C -3.46%  R 38.85 – 21.75  Y +15.58% 

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 4063  C +4.02%  R 4499 – 3239  Y +25.16%

Yamaha    P 2780  C +2.21%  R 3245 – 1898  Y +46.38%

Suzuki    P 4013  C +2.53%  R 4780.5 – 3255.5  Y +21.73%

Kawasaki    P 489  C +4.26%  R 647 – 398  Y +21.49%

 

CHINA (yuan)

Qianjiang    P 8.54  C +3.64%  R 17.11 – 5.55  Y +30.58%

Zongshen    P 14.32  C +3.1%  R 30.15 – 7.55  Y +87.16%   

Sundiro    P 6.73  C +7%  R 12.69 – 4.70  Y +31.96%

Jialing    P 8.44  C +0.72%  R 16.34 – 5.27  Y +21.09%  

Lifan    P 13.29  C +1.53%  R 27.99 – 8.27  Y +60.6% 

Loncin    P 18.91  C +3.05%  R 39.48 – 12.82  Y +24.71%

Linhai    P 13.37  C N/A  R N/A  Y N/A [Trading suspended]

Guangzhou Auto    P 19.00  C +1.99%  R 21.38 – 7.63  Y +149.9%

 

CHINA (Hong Kong dollar)

Jianshe    P 11.38  C N/A  R 19.99 – 6.85  Y N/A [Trading suspended] 

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 7.20  C +0.28%  R 7.93 – 6.46  Y -0.64%

Hong Leong    P 6.06  C +0.17%  R 6.10 – 4.05  Y +49.74%

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

 

SOUTH KOREA (won)

KR    P 1040  C -3.26%  R 1600 – 831  Y +8.33%

Daelim    P 73,000  C +2.96%  R 98,000 – 50,400  Y +5.35%

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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