A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 6 January 2017.
New York was modestly upbeat during a quiet first week of 2017, and surprisingly unperturbed when feeble US employment growth data for December was announced on Friday morning. Already near to a record high, the S&P 500 index closed 0.6% up.
Harley-Davidson improved on that with a 1.3% rise, still failing to reach and stick above the 60-buck mark it managed a month ago. Polaris did better by adding 5%, presumably because it’s sunk so low that investors now regard the stock as a cheap risk.
In Europe, the eurozone-wide FTSE Eurofirst 300 perked up by 1.4% as prospects for an Italian banking-sector meltdown temporarily receded. Every motorcycle-related share listing was positive. Strongest was VW, boasting a 4.4% lift. Fellow German automotives BMW and Daimler just outstripped the average, respectively with 1.8% and 1.6%. KTM also achieved a 1.6% improvement and only Piaggio lagged slightly, 1.3% up.
Japanese sentiment was weakest in the developed world as news of some significant industrial losses impinged on confidence. Tokyo’s Nikkei 225 struggled to get traction and finished only 0.2% up across the week. Suzuki and Honda confounded the gloom thanks to respective 6.7% and 2.5% hikes. Kawasaki sank by a mercifully slim 0.8%. However, Yamaha was on the naughty step, ending 1.7% down after a sharp 3.7% plunge on Friday.
As for major emerging countries, India remains confused following its “demonetisation” farce. For big-league BSE Sensex 30 players, any return to share-price growth was tentative, as the index put on only a 0.5% weekly increase. Of the two motorcycle brands large enough for Sensex status, Hero MotoCorp actually bettered that with 0.8% rise, while Bajaj did the opposite, losing 0.5%. Indian non-Sensex star performers TVS and Eicher blithely overwhelmed investor nerves, though, achieving respective 7.4% and 4.2% boosts.
In China, stock markets were encouraged by 2016 final-quarter growth figures and untroubled by the possibility of an impending trade war with the US. Shanghai’s Composite index rose by 1.4% and, apart from only one minor exception, bike producers added value.
Price (P) Daily change (C) 52-week range (R) One-year investment return (Y)
USA (US dollar)
Harley-Davidson P 59.10 C -0.92% R 62.35 – 36.36 Y +39.14%
Polaris P 86.56 C +1.8% R 104.25 – 67.80 Y +10.37%
Arctic Cat P 15.98 C -1.9% R 19.82 – 8.90 Y +11.44%
US Highland P 0.0008 C +60% R 0.27 – 0.0002 Y N/A
Confederate P 0.04 C N/A R 0.27 – 0.04 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. Confederate Motors makes limited-edition cruisers.
CANADA (Canadian dollar)
BRP P 28.77 C +0.17% R 29.09 – 13.76 Y +51.58%
Notes: Bombardier Recreational Products makes Can-Am ATVs and Spyder road trikes, Ski-Doo snowmobiles, Sea-Doo PWCs and Rotax proprietary engines.
TAIWAN (Taiwanese dollar)
Sanyang P 20.60 C -0.24% R 23.90 – 19.80 Y +3.33%
Notes: Sanyang Motor (SYM) is the leading Taiwanese bike manufacturer.
VIETNAM (Hong Kong dollar)
VMEPH P 0.49 C N/A R 0.54 – 0.36 Y +10.59%
Notes: Vietnam Manufacturing & Export Processing Holdings, a JV partner of SYM, is the third-largest Vietnamese bike manufacturer.
INDONESIA (rupiah)
Astra P 8175 C +0.62% R 8875 – 5700 Y +38.38%
Indomobil P 1395 C -0.36% R 2395 – 1250 Y -39.45%
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 90.39 C +0.42% R 91.76 – 63.38 Y +14.62%
Daimler P 71.88 C -0.23% R 72.64 – 50.83 Y +11.46%
VW P 142.87 C -0.02% R 145.30 – 106.65 Y +14.73%
KTM P 5.18 C N/A R 5.40 – 3.25 Y +43.54%
Piaggio P 1.61 C -0.43% R 2.14 – 1.39 Y -17.56%
Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati.
PAKISTAN (Pakistani rupee)
Atlas Honda P 609.00 C +0.2% R 620.00 – 349.60 Y N/A
Pak Suzuki P 620.00 C -0.55% R 643.00 – 363.01 Y N/A
Notes: Atlas Honda and Pak Suzuki are JV assembly partners.
INDIA (rupee)
Hero P 3067.55 C -0.14% R 3740.00 – 2375.00 Y +26.11%
Bajaj P 2707.35 C -0.59% R 3120.00 – 2171.95 Y N/A
TVS P 387.10 C +0.6% R 420.00 – 256.00 Y N/A
Eicher P 22,717.75 C +1.76% R 26,641.30 – 14,800.00 Y +32.49%
Mahindra P 1220.45 C -0.56% R 1508.95 – 1091.25 Y +2.73%
Maharashtra P 1597.35 C +0.35% R 2170.00 – 1056.00 Y +17.1%
Scooters India P 39.05 C +0.26% R 44.85 – 22.65 Y +25.56%
Notes: Hero MotoCorp is a 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 BMW Motorrad contractor. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has an own-brand bike range, a majority stake in French scooter brand Peugeot and owns formerly British BSA brand rights. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj. Scooters India makes Vikram three-wheeled taxis and light trucks.
JAPAN (yen)
Honda P 3501 C -1.91% R 3646 – 2417 Y +2.97%
Yamaha P 2530 C -3.73% R 2834 – 1409 Y +5.68%
Suzuki P 4270 C -0.23% R 4322 – 2450 Y N/A
Kawasaki P 364 C -2.41% R 422 – 257 Y -7.65%
CHINA (yuan)
Qianjiang P 16.84 C -0.94% R 20.48 – 6.71 Y +87.53%
Zongshen P 9.56 C +0.84% R 11.85 – 8.08 Y -9.53%
Sundiro P 7.92 C -1.49% R 9.94 – 5.61 Y +15.24%
Jialing P 11.23 C +2.84% R 12.01 – 5.67 Y +38.3%
Lifan P 9.75 C +0.52% R 15.00 – 8.05 Y -26.17%
Loncin P 21.25 C -0.89% R 25.35 – 14.80 Y +13%
Linhai P 19.03 C -2.51% R 21.57 – 8.41 Y +72.69%
GAG P 22.91 C -1.04% R 26.27 – 18.10 Y +4.84%
CHINA (Hong Kong dollar)
Jianshe P 13.13 C +2.02% R 18.24 – 11.25 Y -25.82%
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 6.78 C -0.15% R 7.52 – 6.48 Y +1.03%
Hong Leong P 9.60 C -1.34% R 10.08 – 5.25 Y +69.78%
Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner.
SOUTH KOREA (won)
KR P 922 C -0.65% R 1350 – 661 Y -25.34%
Daelim P 87,300 C -0.11% R 94,300 – 62,200 Y +37.91%
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.)