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HomeNEWSFINANCIAL27 MARCH: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

27 MARCH: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 27 March 2015.

The mood among US investors didn’t exactly improve in the past week. A combination of factors were responsible, not least the oil price falling back from recent recovery, an ongoing strong dollar hindering export growth and mixed messages about the state of the US economy. Profit-taking prior to imminent quarterly earnings statements also had an effect. Harley-Davidson, the key American biking blue-chip stock, dropped by 6%, again below the 60-buck mark. However, New York’s S&P 500 index wasn’t as bad as that, with a 2.3% decline.

Europe wasn’t any better, as the FTSE Eurofirst 300 suffered its largest weekly loss for a year, down by 2.39% on the back of deflationary woes, jitters about Greece and the worsening Middle East conflict. Frankfurt-quoted share prices for the three big German automotive groups with powered-two-wheeler sideshows followed that gloom like lemmings, as did KTM in Vienna. The only bright spot was Milan, where Piaggio actually posted a marginally trend-bucking 1% weekly improvement.

India completed a miserably negative month — its BSE Sensex average 4.48% down across March trading. Only TVS Motor and Mahindra flagged slight weekly gains. Every other bike manufacturer lost ground. Most strikingly, even Royal Enfield parent Eicher had its golden-boy exemption status tarnished by a 2.3% retreat.

A climb in the yen’s value, mimicking the dollar, put the bite on shares in Tokyo. Allied with poor local economic data, that began to push the Nikkei 225 backwards from recent 15-year highs, down by 1.4% week-on-week. Suzuki managed to hold station but the other three Japanese motorcycle manufacturers didn’t. Yamaha took the biggest dive, falling by 5.8% — although it’s still by far the best annual earner among them.

Betting-shop behaviour in Chinese markets was unabated. The Shanghai Composite index climbs inexorably without any sound reasoning behind its growth — up by 11.91% in March — and words like “bubble” and “burst” are now entering the lexicon of commentators. The extensive swathe of Chinese motorcycling stocks continued to stack on gains as part of this phenomenon. Zongshen tops the pile, having more than tripled in value over the past 12 months.

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

 

USA (US dollar)

Harley-Davidson    P 59.46  C -0.87%  R 74.13 – 54.22  Y -8.59%

Polaris    P 142.29  C +1.37%  R 159.33 – 124.728  Y +4.44%

Arctic Cat    P 36.67  C +1.41%  R 48.466 – 26.00  Y -21.36%

US Highland    P 0.60  C +15.38%  R 0.60 – 0.13  Y N/A

Viper    P 0.0025  C N/A  R 0.03 – 0.0012  Y -90%

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 23.86  C +0.42%  R 30.24 – 20.67  Y -15.99%

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 26.85  C N/A  R 52.10 – 25.20  Y -46.3%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.445  C N/A  R 0.69 – 0.40  Y -11%

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

 

INDONESIA (rupiah)

Astra    P 8200  C +0.61%  R 8300 – 6325  Y +14.57%

Indomobil    P 3850  C -3.51%  R 5200 – 3050  Y -25.65%

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 115.858  C -0.13%  R 123.75 – 74.74  Y +29.69%

Daimler    P 88.664  C -0.4%  R 96.07 – 55.10  Y +33.39%

VW    P 235.224  C -0.21%  R 254.99 – 147.35  Y +30.58%

KTM    P 127.00  C N/A  R 141.00 – 71.50  Y +69.3%

Piaggio    P 2.816  C +0.57%  R 3.092 – 1.93  Y +7.07%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 345.00  C N/A  R 405.30 – 209.00  Y N/A

Pak Suzuki    P 346.62  C -5%  R 450.85 – 183.25  Y N/A

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

 

INDIA (rupee)

Hero    P 2576.15  C -1.06%  R 3271.80 – 2110.00  Y +18.56%

Bajaj    P 2016.90  C +0.63%  R 2695.00 – 1840.10  Y +0.13%

TVS    P 271.95  C +2.06%  R 322.30 – 84.00  Y +187.76% 

Eicher    P 15,490.75  C -0.58%  R 17,200.00 – 5756.20  Y +166.44%

Mahindra    P 1188.50  C -1.05%  R 1433.70 – 954.81  Y +24.2%

Maharashtra    P 866.10  C +0.88%  R 1124.00 – 442.50  Y +95.68%

Scooters India    P 24.70  C -4.63%  R 38.85 – 15.35  Y +59.35%

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 3984  C -1.64%  R 4170 – 3239  Y +14.78%

Yamaha    P 2759  C -0.04%  R 3145 – 1506  Y +76.36%

Suzuki    P 3655  C -0.3%  R 4041 – 2526  Y +38.67%

Kawasaki    P 608  C -1.3%  R 647 – 350  Y +65.99%

 

CHINA (yuan)

Qianjiang    P 8.37  C -0.59%  R 8.78 – 4.90  Y +51.36%

Zongshen    P 15.52  C +0.78%  R 15.85 – 4.37  Y +209.18%  

Sundiro    P 6.51  C +4.49%  R 6.55 – 3.61  Y +59.64%

Jialing    P 9.25  C -2.53%  R 9.50 – 3.61  Y +150% 

Lifan    P 12.11  C -0.82%  R 12.55 – 6.33  Y +93.32%

Loncin    P 19.13  C +5.11%  R 19.69 – 8.24  Y 120.84%

Linhai    P 11.40  C +3.92%  R 11.91 – 5.43  Y +100.66%

 

CHINA (Hong Kong dollar)

Jianshe    P 8.05  C -1.11%  R 9.40 – 5.41  Y +35.29% 

Guangzhou Auto    P 7.06  C -0.56%  R 9.87 – 6.58  Y -12.7%

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 6.74  C N/A  R 8.10 – 6.48  Y -4.74%

Hong Leong    P 4.45  C +1.14%  R 7.543 – 3.95  Y -13.7%

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

 

SOUTH KOREA (won)

KR    P 1385  C -2.12%  R 1495 – 635  Y +108.58%

Daelim    P 61,400  C -2.85%  R 94,300 – 50,400  Y -29.48%

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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