24 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 24 April 2015.

Against a mixed-message background of many American companies highlighting the deleterious effects of a strong dollar in their current welter of quarterly earnings reports, US stocks nevertheless were close to a record high by Friday and New York’s S&P 500 index delivered a 1.8% weekly rise.

Harley-Davidson was one of those forex victims complaining about shrinking over-priced exports. But it also crucially admitted to a domestic market retreat as well and was duly punished on the day of its results release with a share price plunge of almost 10%. However, some recovery was then apparent and it finished 5.6% down week-on-week. Polaris, reporting two days later, painted a much brighter picture but also saw exports decline. After an initial positive surge of about 3%, its stock then fell back to a marginal weekly loss of 0.7%.

Far Eastern markets were perky too. In Japan, the Nikkei 225 climbed by 1.9%. Among that nation’s bike manufacturers only Yamaha missed the ride upwards in stock price. China’s Shanghai Composite rose by 2.5%, taking the vast majority of listed motorcycle producers with it. Honda associates Jialing and Sundiro were notable performers, with respective 11.1% and 8.5% weekly gains. Defaulters were both linked to Yamaha — Linhai, with a trading suspension for some unspecified stock market malpractice, and Jianshe, where investors seem to have finally woken up to its plunging bike sales.

For doom and gloom, India was the place. Its BSE Sensex 30 index has been falling steadily for the past three weeks, and so have the share prices of indigenous motorcycle makers. Even industry leader Hero MotoCorp failed to avoid that fate, despite having announced impressive full-year financial results.     

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

USA (US dollar)

Harley-Davidson    P 57.23  C +0.49%  R 74.13 – 54.22  Y -18.75%

Polaris    P 142.55  C -3.48%  R 159.33 – 124.728  Y +6.79%

Arctic Cat    P 36.91  C -0.4%  R 42.37 – 26.00  Y -10.36%

US Highland    P 0.61  C +1.67%  R 0.61 – 0.13  Y N/A

Viper    P 0.0015  C N/A  R 0.026 – 0.0012  Y -94%

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 26.09  C -1.06%  R 30.24 – 20.67  Y -12.21%

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 27.20  C +0.74%  R 33.60 – 25.20  Y -7.17%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.50  C N/A  R 0.69 – 0.40  Y +3.09%

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

INDONESIA (rupiah)

Astra    P 7875  C -0.32%  R 8575 – 6325  Y +3.05%

Indomobil    P 3670  C -3.04%  R 5025 – 3050  Y -23.46%

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 110.262  C -0.66%  R 123.75 – 74.74  Y +26.93%

Daimler    P 87.112  C +0.62%  R 96.07 – 55.10  Y +35.24%

VW    P 232.495  C +2.41%  R 254.99 – 147.35  Y +25.96%

KTM    P 125.00  C N/A  R 141.00 – 79.00  Y +53.56%

Piaggio    P 2.704  C +1.27%  R 3.00 – 1.93  Y -3.94%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 392.50  C +4.64%  R 405.30 – 209.00  Y N/A

Pak Suzuki    P 407.05  C +5%  R 450.85 – 187.00  Y N/A

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

INDIA (rupee)

Hero    P 2352.80  C -1.58%  R 3271.80 – 2110.00  Y +10.89%

Bajaj    P 1998.85  C +0.39%  R 2695.00 – 1840.10  Y +2.32%

TVS    P 232.15  C -0.6%  R 322.30 – 86.25  Y +169.5% 

Eicher    P 14,720.50  C -0.18%  R 17,200.00 – 6070.00  Y +141.76%

Mahindra    P 1172.10  C -2.23%  R 1433.70 – 1030.78  Y +10.77%

Maharashtra    P 842.10  C -4.84%  R 1124.00 – 462.65  Y +84.14% 

Scooters India    P 32.90  C -0.15%  R 38.85 – 17.05  Y +73.16%

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 4346  C +0.6%  R 4383 – 3239  Y +28.24%

Yamaha    P 2859  C -1.14%  R 3145 – 1506  Y +77.3%

Suzuki    P 3902  C +1.76%  R 4041 – 2526  Y +43.65%

Kawasaki    P 631  C -0.32%  R 647 – 351  Y +69.1%

CHINA (yuan)

Qianjiang    P 9.28  C -1.28%  R 9.92 – 4.90  Y +80.54%

Zongshen    P 19.93  C +4.78%  R 20.18 – 4.37  Y +291.6%  

Sundiro    P 7.67  C +1.32%  R 7.76 – 3.61  Y +107.86%

Jialing    P 11.38  C +0.98%  R 11.86 – 4.03  Y +131.77% 

Lifan    P 14.65  C +3.83%  R 15.03 – 6.33  Y +128.25%

Loncin    P 23.00  C -0.61%  R 24.25 – 8.24  Y +160.82%

Linhai    P 13.37  C -4.09%  R 14.29 – 5.47  Y N/A [Trading suspended]

CHINA (Hong Kong dollar)

Jianshe    P 10.16  C -0.2%  R 11.98 – 5.41  Y +71.33% 

Guangzhou Auto    P 8.61  C +0.23%  R 9.87 – 6.58  Y +13.58%

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 7.37  C -0.27%  R 8.10 – 6.48  Y -6.67%

Hong Leong    P 4.96  C +0.4%  R 7.543 – 3.95  Y -7.18%

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

SOUTH KOREA (won)

KR    P 1270  C -4.51%  R 1600 – 780  Y -12.11%

Daelim    P 85,400  C -0.47%  R 94,300 – 50,400  Y +4.18%

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.)