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4 DECEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday, 4 December, 2015.

No surprise that New York equities investment was a tad erratic last week, given confusion generated by conflicting indicators. US Federal Reserve supremo Janet Yellen’s clear intimation that the first American interest rate rise since the financial crisis was imminent delivered unpopular news. As a result, sell-offs were in order and the stock market slid downwards. 

But then, on Friday, strong monthly US employment growth data was released — cheering everybody up. The S&P 500 index leapt upwards by 2.05%, wiping away earlier losses to finish with a weekly positive of 0.05%. As you can witness in the figures below, Harley-Davidson suddenly recovered by 1.4%. Nevertheless, it still ended down by 2.2% week-on-week. There was no such relief for Polaris, which not only finished with a 6.2% weekly decline but also received an aberrant 4.19% spanking during that final day’s trading.

In Europe, general dissatisfaction with the European Central Bank’s latest economic stimulus programme hammered confidence and the Eurofirst 300 fell by a weekly 3.93%. Thursday’s sharp one-day drop of 3.31% accounted for most of that, following a speech by ECB governor Mario Draghi. Among bike-related shares, BMW, Daimler and Piaggio headed south. Mysteriously, naughty VW went the other way, adding 3% — although the company has still lost about a quarter of its pre-scandal value.

Japanese sentiment was cautious for most of the week, on the back of concerns about both the US and Europe, and then culminated in a Friday plunge for the Nikkei 225 of 2.18%, factoring into a weekly drop of 1.94%.That was accurately reflected in overall share price negativity for all four indigenous motorcycle manufacturers.

As for emerging countries, India’s BSE Sensex 30 index was down by 1.88% and Indian motorcycling majors were either flat of falling. China was much better. Shanghai’s Composite rose by 2.57%. The previous week’s volatility disappeared and most bike producers benefited moderately or at least held station. 

                                 

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

USA (US dollar)

Harley-Davidson    P 47.66  C +1.4%  R 70.41 – 46.47  Y -30.67%

Polaris    P 99.11  C -4.19%  R 158.24 – 98.52  Y -34.74%

Arctic Cat    P 20.51  C -2.15%  R 39.72 – 16.60  Y -38.11%

US Highland    P 0.28  C +38.75%  R 1.05 – 0.11  Y +113.46%

Viper    P 0.001  C N/A  R N/A  Y N/A

Confederate    P 0.15  C -17.11%  R 0.52 – 0.06  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 21.18  C -3.6%  R 29.80 – 20.64  Y -19.71%

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 23.15  C -0.64%  R 29.90 – 19.15  Y -20.72%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.47  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 6400  C +1.59%  R 8575 – 4975  Y -6.82%

Indomobil    P 2150  C -4.44%  R 4200 – 2100  Y -33.35%

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 99.20  C +1.75%  R 123.75 – 72.05  Y +10.99%

Daimler    P 79.90  C +2.24%  R 96.07 – 62.05  Y +17.7%

VW    P 138.28  C +1.16%  R 254.99 – 95.00  Y -23.36%

KTM    P 125.95  C N/A  R 141.00 – 99.69  Y -4.11%

Piaggio    P 2.28  C +0.18%  R 3.18 – 2.10  Y -0.81%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 394.99  C +2.59%  R 414.80 – 300.00  Y N/A 

Pak Suzuki    P 459.00  C +0.09%  R 493.00 – 327.00  Y N/A

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

 

INDIA (rupee)

Hero    P 2617.80  C N/A  R 3250.00 – 2251.30  Y -16.95%

Bajaj    P 2472.55  C -0.31%  R 2656.00 – 1912.50  Y -3.75%

TVS    P 283.85  C +0.12%  R 322.30 – 201.00  Y +12.64%  

Eicher    P 16,428.95  C -1.58%  R 21,620.00 – 13,701.00  Y +8.33% 

Mahindra    P 1315.30  C -2.26%  R 1442.05 – 1092.15  Y +2.6% 

Maharashtra    P 1474.55  C +0.59%  R 1611.80 – 785.85  Y +47.03% 

Scooters India    P 30.50  C +4.45%  R 35.45 – 21.75  Y -2.56% 

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 3990  C -2.42%  R 4499 – 3382.5  Y +9.23%

Yamaha    P 2930  C -2.01%  R 3245 – 2108  Y +14.01%

Suzuki    P 3770  C -2.84%  R 4780.5 – 3411.5  Y -5.4%

Kawasaki    P 477  C -2.25%  R 647 – 398  Y -12.81%

 

CHINA (yuan)

Qianjiang    P 11.80  C N/A  R 17.11 – 5.55  Y +55.06%

Zongshen    P 14.69  C -1.94%  R 30.15 – 7.75  Y +51%   

Sundiro    P 8.36  C +3.72%  R 12.69 – 4.70  Y +52.55%

Jialing    P 9.82  C -2.29%  R 16.34 – 5.27  Y +16.08%  

Lifan    P 17.53  C -0.23%  R 27.99 – 8.31  Y +80.39% 

Loncin    P 23.62  C -2.15%  R 39.48 – 12.82  Y +75.74%

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

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

 

CHINA (Hong Kong dollar)

Jianshe    P 12.29  C -1.99%  R 19.99 – 6.85  Y +48.43% 

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 7.05  C N/A  R 7.93 – 6.46  Y +2.85%

Hong Leong    P 6.04  C +0.67%  R 6.30 – 4.05  Y +50.33%

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

 

SOUTH KOREA (won)

KR    P 972  C -0.51%  R 1600 – 943  Y -4.71%

Daelim    P 70,400  C N/A  R 98,000 – 50,400  Y +2.04%

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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