26 JUNE: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 26 June 2015.

As Greece teetered on the brink of financial default, associated worries about it spread to surprising places — but not the obvious one. Trading in New York was cautious as a result with the S&P 500 falling marginally by 0.29% over the week. Harley-Davidson was hit harder than that, down by 2.4%.

However, the Northern European economic powerhouse appears to have waved auf wiedersehen to Greeks bearing begging bowls already and is dismissing any potential fall-out through the rest of the eurozone. Frankfurt’s Xetra Dax index boasted a weekly rise of more than 4% and the pan-continental Eurofirst 300 was up by 2.9%. The three big German automotives made even more impressive gains. BMW topped the podium with a 6.3% improvement, followed by Daimler on 5.8% and VW on 5.4%. In Austria, KTM rose by 2%.

Although Tokyo started to dip at the end of the week in reaction to Greek concerns, the Nikkei 225 had hit an 18-year high on Wednesday and finished 2.64% to the better. But that message didn’t benefit the complete swathe of Japanese bike manufacturers. Yamaha actually suffered a substantial hit, posting a weekly share price fall of 5.6%, and Kawasaki was down too, by 2.7%.

As for key emerging markets, India was perkier, with only Hero MotoCorp suffering a marginal decline among that nation’s major motorcycling players. But China’s equities bubble continued to burst spectacularly. The Shanghai Composite index fell by another 7.9% week-on-week and losses incurred by bike producers far exceeded that average.

There were no escapees from punishment, almost all of them posting double-digit declines. Zongshen took the most severe kicking, down by 22.2%, followed by Honda JV partner Sundiro, which dropped by 18.4%. And the negativity rate was accelerating on Friday, so there’ll be worse to come during the following week.       

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

USA (US dollar)

Harley-Davidson    P 56.91  C -0.89%  R 70.65 – 53.04  Y -16.44%

Polaris    P 149.88  C +0.52%  R 159.33 – 128.62  Y +17.04%

Arctic Cat    P 34.40  C -0.32%  R 40.59 – 26.00  Y -11.3%

US Highland    P 1.00  C -4.76%  R 1.05 – 0.13  Y N/A

Viper    P 0.00  C N/A  R 0.02 – 0.00  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 29.13  C -0.31%  R 29.80 – 20.67  Y +11.57%

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 25.60  C -0.78%  R 33.60 – 22.25  Y -15.51%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.61  C -4.69%  R 0.85 – 0.40  Y +41.86%

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

INDONESIA (rupiah)

Astra    P 6825  C -0.36%  R 8575 – 6325  Y -4.23%

Indomobil    P 3490  C -0.29%  R 5025 – 3050  Y -28.48%

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 103.36  C +0.07%  R 123.75 – 74.74  Y +14.88%

Daimler    P 86.47  C +0.67%  R 96.07 – 55.10  Y +29.76%

VW    P 217.19  C +0.87%  R 254.99 – 147.35  Y +17.57%

KTM    P 110.20  C N/A  R 141.00 – 83.00  Y +23.99%

Piaggio    P 3.01  C -0.59%  R 3.18 – 1.93  Y +22.02%

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 328.70  C -5%  R 409.00 – 209.00  Y N/A

Pak Suzuki    P 436.02  C -1.42%  R 469.00 – 225.00  Y N/A

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

INDIA (rupee)

Hero    P 2539.20  C -0.51%  R 3271.80 – 2251.30  Y +1.5%

Bajaj    P 2544.80  C +1.62%  R 2695.00 – 1912.50  Y +12.6%

TVS    P 245.20  C +2.77%  R 322.30 – 141.10  Y +53.18% 

Eicher    P 19,561.65  C +0.4%  R 20,049.90 – 7400.00  Y +153.89%

Mahindra    P 1304.10  C -0.33%  R 1433.70 – 1102.00  Y +14.39%

Maharashtra    P 1118.30  C -0.44%  R 1139.00 – 616.15  Y +77.41%

Scooters India    P 22.40  C -1.54%  R 38.85 – 21.75  Y -26.07%

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 4038  C -0.55%  R 4400 – 3239  Y +17.3%

Yamaha    P 2757  C -1.61%  R 3245 – 1686  Y +65.54%

Suzuki    P 4208  C +2.09%  R 4435 – 3011.5  Y +33.05%

Kawasaki    P 585  C -2.17%  R 647 – 369  Y +55.95%

CHINA (yuan)

Qianjiang    P 11.57  C -10.03%  R 17.11 – 5.88  Y +71.41%

Zongshen    P 19.17  C -10%  R 30.15 – 4.48  Y +326.49%  

Sundiro    P 9.36  C -10%  R 12.69 – 3.85  Y +141.92%

Jialing    P 12.74  C -10.02%  R 16.34 – 4.65  Y +137.88% 

Lifan    P 16.41  C -9.98%  R 27.99 – 6.66  Y +156.44%

Loncin    P 25.35  C -10.01%  R 39.48 – 8.59  Y +192.08%

Linhai    P 13.37  C N/A  R 14.29 – 6.28  Y N/A [Trading suspended]

CHINA (Hong Kong dollar)

Jianshe    P 14.43  C -9.98%  R 19.99 – 5.70  Y +152.71% 

Guangzhou Auto    P 7.12  C -3%  R 9.87 – 6.58  Y -17.24%

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 7.18  C -1.64%  R 7.94 – 6.46  Y -4.85%

Hong Leong    P 4.45  C -0.22%  R 7.54 – 3.95  Y -16.83%

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

SOUTH KOREA (won)

KR    P 1085  C -1.36%  R 1600 – 780  Y -8.44%

Daelim    P 77,700  C +0.13%  R 94,300 – 50,400  Y -6.69%

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.)