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25 SEPTEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

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

 

Although Europe’s FTSE Eurofirst 300 index only dropped by 1.52% week-on-week, all eyes were on German automotive stocks as Ducati parent Volkswagen reaped the whirlwind of its consummate emissions-test cheating on diesel cars. In the first two days of the week, VW shares plunged by up to 35%, recovered a bit on Wednesday when VW Group chief executive Martin Winterkorn fell on his sword and then began to decline again. By Friday’s finish, they were down by 28.1%. Although BMW and Daimler have yet to be implicated in the same scandal, investors anticipated spreading contagion and both lost about a tenth of their market value. Piaggio was negative too, dropping by 4.7% in Milan.

In the US, New York’s S&P 500 fell more marginally by 0.57% but indigenous automotives leading on two wheels or four weren’t flavour of the week there either (or pretty much anywhere else). Both Polaris and Harley-Davidson suffered collateral damage. Harley stock has now sunk to almost its lowest point this year, down by 18.3% since the beginning of January. All four Japanese motorcycle brands — two of which are also big-league car manufacturers — also took a bashing, as did almost all of India’s leading bike producers.

Surprising as it may seem, Chinese motorcycling stocks bucked this otherwise global trend, despite a slight overall 0.18% weekly fall for the Shanghai Composite index. Five of the six bike makers still trading posted weekly gains, although they were falling sharply on Friday. Three remain suspended from exchange activity.                

           

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

USA (US dollar)

Harley-Davidson    P 53.88  C +0.82%  R 70.41 – 50.64  Y -9.18%

Polaris    P 122.99  C +0.21%  R 159.33 – 119.01  Y -18.03%

Arctic Cat    P 23.96  C +0.17%  R 39.72 – 23.30  Y -31.59%

US Highland    P 0.40  C -3.66%  R 1.05 – 0.13  Y -22.55%

Viper    P 0.0025  C N/A  R 0.01 – 0.0025  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.

 

CANADA (Canadian dollar)

BRP    P 26.15  C -0.3%  R 29.80 – 20.67  Y +8.33%

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 23.55  C N/A  R 31.60 – 19.15  Y -17.37%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.44  C -1.12%  R 0.85 – 0.40  Y -11.11%

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

 

INDONESIA (rupiah)

Astra    P 5550  C +0.91%  R 8575 – 5450  Y -17.29%

Indomobil    P 2750  C +3.58%  R 4600 – 2610  Y -36.6%

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 78.19  C -1.03%  R 123.75 – 72.05  Y -6.42%

Daimler    P 65.36  C +1.14%  R 96.07 – 55.10  Y +9.65%

VW    P 115.82  C -4.32%  R 254.99 – 102.20  Y -28.52%

KTM    P 113.00  C +0.89%  R 141.00 – 99.69  Y +10.02%

Piaggio    P 2.21  C +2.5%  R 3.18 – 1.93  Y +8.04%

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 340.00  C -0.29%  R 409.00 – 275.00  Y N/A

Pak Suzuki    P 419.00  C +1.66%  R 493.00 – 276.00  Y N/A

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

 

INDIA (rupee)

Hero    P 2381.70  C -0.8%  R 3271.80 – 2251.30  Y -16.87%

Bajaj    P 2282.95  C +1.95%  R 2695.00 – 1912.50  Y -0.53%

TVS    P 235.95  C +2.43%  R 322.30 – 201.00  Y +8.41% 

Eicher    P 17,776.15  C -2.62%  R 21,620.00 – 10,826.35  Y +57.01%

Mahindra    P 1221.00  C +1.06%  R 1442.05 – 1092.15  Y -11.55%

Maharashtra    P 966.45  C +1.5%  R 1200.00 – 785.85  Y +14.19%

Scooters India    P 27.60  C +4.94%  R 38.85 – 21.75  Y +4.35%

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 3705  C +0.49%  R 4499 – 3239  Y +1.24%

Yamaha    P 2421  C +2.76%  R 3245 – 1803  Y +15.8%

Suzuki    P 3774  C +2.03%  R 4780.5 – 3011.5  Y +2.55%

Kawasaki    P 430  C -1.38%  R 647 – 393  Y -1.12%

 

CHINA (yuan)

Qianjiang    P 6.64  C -4.18%  R 17.11 – 5.55  Y -6.74%

Zongshen    P 10.29  C -8.45%  R 30.15 – 7.05  Y +31.07%  

Sundiro    P 5.03  C N/A  R 12.69 – 4.70  Y N/A [Trading suspended]

Jialing    P 7.45  C -6.17%  R 16.34 – 5.27  Y -1.32% 

Lifan    P 9.22  C -6.3%  R 27.99 – 8.15  Y +6.25%

Loncin    P 15.30  C -9.2%  R 39.48 – 12.82  Y -1.04%

Linhai    P 13.37  C N/A  R 14.29 – 7.78  Y N/A [Trading suspended]

Guangzhou Auto    P 18.14  C -3.92%  R 21.38 – 7.63  Y +121.42%

 

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 7.00  C N/A  R 7.93 – 6.46  Y -7.29%

Hong Leong    P 5.70  C -0.7%  R 7.54 – 3.95  Y -15.89%

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

 

SOUTH KOREA (won)

KR    P 998  C -0.1%  R 1600 – 807  Y +22.3%

Daelim    P 68,900  C +0.88%  R 98,000 – 50,400  Y -13.74%

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.)

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