25 DECEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 25 December 2015.

Trading in the past week was extremely thin, subdued by a foreshortening in many markets due to religious grandstanding around the northern hemisphere’s winter solstice. But seasonal goodwill obviously extended to investor confidence in the US and Europe. The entire Transatlantic basket of motorcycle-related shares eased modestly upwards until brokers packed up and went to the pub on Thursday lunchtime.

Bonhomie also stretched to India, where the Bombay Stock Exchange keeps its Raj-era name and still observes a traditional closure on Christmas Day. All key Indian bike producers added festive value week-on-week too.

Bah-humbug began in Japan, where 25 December is another normal working day. An absence of significant activity or meaningful indicators elsewhere pushed the Nikkei 225 index down by 2.4%. The big- four Japanese motorcycle manufacturers followed that trend without exception, posting fairly limited price declines.

However, although China also worked a full five-day week, the Shanghai Composite rose by 1.38%. Just over half of Chinese bike stocks climbed while the rest fell — without excessively dramatic swings in either case.

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

USA (US dollar)

Harley-Davidson    P 46.15  C -0.86%  R 66.85 – 45.00  Y -28.22%

Polaris    P 86.14  C -0.74%  R 158.24 – 81.42  Y -42.23%

Arctic Cat    P 16.71  C +2.77%  R 39.72 – 15.44  Y -49.4%

US Highland    P 0.36  C N/A  R 1.05 – 0.11  Y -29.41%

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

Confederate    P 0.15  C +0.54%  R 0.33 – 0.08  Y -40%

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 20.21  C +1.2%  R 29.80 – 19.89  Y -16.66%

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 22.00  C N/A  R 28.90 – 19.15  Y -23.21%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.45  C N/A  R 0.85 – 0.40  Y N/A

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

INDONESIA (rupiah)

Astra    P 6000  C -1.23%  R 8575 – 4975  Y -15.33%

Indomobil    P 2300  C +2.22%  R 4200 – 1860  Y -35.12%

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 98.52  C +1.87%  R 123.75 – 72.05  Y +12%

Daimler    P 78.01  C +1.91%  R 96.07 – 62.05  Y +15.31%

VW    P 143.47  C +0.93%  R 254.99 – 95.00  Y -19.11%

KTM    P 125.00  C -0.79%  R 140.45 – 99.69  Y -8.64%

Piaggio    P 2.35  C +2.09%  R 3.18 – 2.10  Y +1.54%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 384.00  C +0.17%  R 414.80 – 305.00  Y N/A 

Pak Suzuki    P 483.50  C -0.1%  R 510.00 – 330.00  Y N/A

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

INDIA (rupee)

Hero    P 2696.40  C +0.68%  R 3160.00 – 2251.30  Y -11.95%

Bajaj    P 2482.90  C +0.38%  R 2656.00 – 1912.50  Y +2.08%

TVS    P 285.45  C -1.65%  R 322.30 – 201.00  Y +9.79%  

Eicher    P 16,172.15  C -0.11%  R 21,620.00 – 13,900.10  Y +7.26% 

Mahindra    P 1257.75  C +0.47%  R 1442.05 – 1092.15  Y +1.14% 

Maharashtra    P 1440.80  C -0.25%  R 1619.00 – 785.85  Y +49.39% 

Scooters India    P 28.00  C -2.27%  R 35.45 – 21.75  Y -6.35% 

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 3858  C -0.69%  R 4499 – 3420  Y +9.02%

Yamaha    P 2696  C +0.48%  R 3245 – 2108  Y +10.47%

Suzuki    P 3622  C -1.31%  R 4780.5 – 3411.5  Y -2.19%

Kawasaki    P 439  C -2.44%  R 647 – 398  Y -20.47%

CHINA (yuan)

Qianjiang    P 11.29  C +1.07%  R 17.11 – 5.55  Y +80.64%

Zongshen    P 14.25  C +0.71%  R 30.15 – 7.75  Y +63.61%   

Sundiro    P 8.36  C -0.36%  R 12.69 – 4.70  Y +58.33%

Jialing    P 10.29  C -0.68%  R 16.34 – 5.27  Y +25.79%  

Lifan    P 15.88  C +0.95%  R 27.99 – 8.31  Y +76.22% 

Loncin    P 25.10  C +3.12%  R 39.48 – 12.82  Y +76.82%

Linhai    P 13.37  C N/A  R N/A  Y N/A [Suspended]

GAG    P 22.06  C +1.52%  R 24.85 – 7.80  Y +162.12%

CHINA (Hong Kong dollar)

Jianshe    P 18.90  C +3.85%  R 19.99 – 6.85  Y +150% 

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 6.90  C N/A  R 7.93 – 6.48  Y +3.45%

Hong Leong    P 5.98  C N/A  R 6.30 – 4.21  Y +38.72%

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

SOUTH KOREA (won)

KR    P 1245  C -6.74%  R 1770 – 905  Y +26.4%

Daelim    P 68,300  C +1.79%  R 98,000 – 50,400  Y +4.75%

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.)