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HomeNEWSFINANCIAL27 MAY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

27 MAY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 27 May 2016.

An odd week with relatively better share prices despite muted trading volumes and factors which should have pushed in the other direction. On the one hand, oil failed to maintain recent recovery with benchmarks Brent Light and West Texas Intermediate both falling back below 50 bucks a barrel. And on the other, prospects of an interest rate hike by the US Federal Reserve grew stronger. Nevertheless, investor confidence in the developed world improved.

New York’s S&P 500 index climbed by 2.17%. Both Harley-Davidson and Polaris out-paced the herd with respective 3.7% and 3% gains. In Europe, the Eurofirst 300 was 3.5% up and every motorcycle-related stock rose accordingly. BMW was highest achiever, adding 4.9%. The Japanese were more circumspect as the Nikkei 225 in Tokyo shifted upwards by just 0.59%. But all four indigenous bike brands followed that tentatively positive trend.

Big emerging markets were like chalk and cheese. Indian sentiment received a powerful boost from forecasts of above normal monsoon rainfall — promising bumper agricultural performance in a country with so many mouths to feed. The BSE Sensex 30 leapt skywards by 5.34% and every listed bike manufacturer rode pillion apart from TVS, which posted a tiny retreat.

In contrast, China was supposed to be a pit of gloom. Shanghai’s Composite index fell for a sixth successive week, by 0.2%, and is 8.4% down overall during that period. However, five of the seven actively trading Chinese motorcycle stocks ignored received wisdom to make gains. Only Zongshen and Lifan obeyed orders to join the losers’ line.

                    

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

 

USA (US dollar)

Harley-Davidson    P 45.53  C +0.24%  R 60.67 – 36.36  Y -12.36%

Polaris    P 86.41  C +1.24%  R 156.35 – 67.80  Y -38.29%

Arctic Cat    P 15.86  C +6.09%  R 35.78 – 8.90  Y -51.54%

US Highland    P 0.01  C N/A  R 0.70 – 0.01  Y -99.25%

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

Confederate    P 0.15  C N/A  R 0.33 – 0.08  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. Confederate Motors makes Combat Fighter cruisers.

 

CANADA (Canadian dollar)

BRP    P 19.98  C +2.1%  R 29.80 – 13.76  Y -27.32%

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 21.10  C -0.47%  R 26.05 – 19.15  Y -16.27%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.40  C N/A  R 0.79 – 0.36  Y -46.67%

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

 

INDONESIA (rupiah)

Astra    P 6700  C +2.29%  R 7850 – 4975  Y -5.44%

Indomobil    P 1600  C -0.62%  R 4000 – 1500  Y -59.89%

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 75.08  C -0.08%  R 105.45 – 65.99  Y -22.24%

Daimler    P 60.62  C -0.28%  R 89.19 – 56.19  Y -25.32%

VW    P 139.75  C +0.36%  R 228.19 – 95.00 Y -36.44%

KTM    P 122.80  C N/A  R 130.00 – 99.69  Y +6.67%

Piaggio    P 1.81  C +1.34%  R 3.18 – 1.56  Y -36.97%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 392.50  C +0.32%  R 414.80 – 320.05  Y N/A

Pak Suzuki    P 413.00  C -1.4%  R 532.00 – 371.00  Y N/A

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

 

INDIA (rupee)

Hero    P 3002.50  C +1.36%  R 3172.00 – 2257.20  Y +14.17%

Bajaj    P 2563.70  C +2.34%  R 2656.00 – 2133.15  Y +15.4%

TVS    P 291.10  C -2.67%  R 340.90 – 201.00  Y +23.32% 

Eicher    P 18,742.30  C +1.89%  R 21,620.00 – 14,800.00  Y -0.27%

Mahindra    P 1333.70  C -0.4%  R 1442.05 – 1091.25  Y +7.01%

Maharashtra    P 1288.85  C +0.74%  R 1619.00 – 936.60  Y +35.93%

Scooters India    P 22.85  C -2.14%  R 35.05 – 21.75  Y -12.79%

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 3027  C -0.62%  R 4499 – 2726  Y -27.22%

Yamaha    P 1877  C +1.24%  R 3245 – 1581  Y -38.77%

Suzuki    P 2806  C +0.61%  R 4780.5 – 2450  Y -34.64%

Kawasaki    P 332  C -0.3%  R 641 – 269  Y -45.34%

 

CHINA (yuan)

Qianjiang    P 12.00  C +1.87%  R 17.11 – 5.55  Y -20.79%

Zongshen    P 9.63  C -0.52%  R 29.08 – 8.08  Y -62.92%  

Sundiro    P 5.71  C N/A  R 12.69 – 4.89  Y N/A [Trading halted]

Jialing    P 7.38  C N/A  R 16.34 – 5.27  Y N/A [Trading halted]

Lifan    P 9.59  C -1.34%  R 27.99 – 8.05  Y -54.45%

Loncin    P 17.00  C -1.22%  R 39.48 – 13.00  Y -41.21%

Linhai    P 10.88  C +0.37%  R 14.71 – 8.41  Y -23.33%

GAG    P 23.03  C +0.13%  R 25.55 – 11.03  Y +94.74%

 

CHINA (Hong Kong dollar)

Jianshe    P 12.90  C -0.62%  R 19.99 – 7.72  Y -22.34%

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 6.91  C +0.29%  R 7.61 – 6.48  Y -6.45%

Hong Leong    P 8.10  C -0.86%  R 8.29 – 4.34  Y +91.21%

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

 

SOUTH KOREA (won)

KR    P 1085  C N/A  R 1770 – 905  Y -3.56%

Daelim    P 80,000  C +2.3%  R 98,000 – 59,600  Y +2.63%

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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