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6 June – Motorcycle industry share price guide

6 JUNE — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICE GUIDE

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 6 June 2014.

News that the US economy had recovered to pre-crisis health, in terms of employment data, inevitably boosted investor confidence in New York. The S&P 500 stacked on 1.3 per cent for the week to finish on its sixth consecutive record daily close. Biking blue-chips Harley-Davidson and Polaris rose by 0.9 per cent and 2.9 per cent respectively on a weekly basis. Arctic Cat even recovered to add a bit by Friday, after a sharp dive earlier in the week following announcement that its chief executive Claude Jordan had been unceremoniously shown the exit door.

American small-cap companies rallied too, with the Russell 2000 index outpacing big-league benchmarks like the S&P. One beneficiary was niche off-road motorcycle manufacturer US Highland, the share price of which just managed to hang onto a half-dollar status achieved the previous week after many months of languishing far below that level.

In Europe, warmer feelings about the future also pervaded the FTSE Eurofirst 300, which ended with a six-year closing high. But bike-related shares could best be described as flat as market analysts puzzled over the meaning of a European Central Bank decision to introduce a negative depository interest base rate and its likely effect on consumer patterns.

Stars in India were motorcycle market leader Hero MotoCorp and its nearest local rival Bajaj, racking on 14.4 per cent and 5.4 per cent respective weekly gains, as the new government’s business incentive plans became firmer. Royal Enfield parent Eicher was also smiling, up by 7.8 per cent.

Far Eastern markets were buoyant too. Tokyo’s Nikkei 225 index recorded its best weekly performance since mid-April, rising by 3.04 per cent. All four Japanese motorcycle manufacturers enjoyed positive stock performance. Yamaha did best, gaining 5.3 per cent. Suzuki was runner-up with a 2.5 per cent improvement.

Most Chinese motorcycling stocks were positive as well, across the Shanghai, Shenzhen and Hong Kong exchanges, with only four showing very minor declines. Benelli owner Qianjiang topped the pile with a five per cent weekly advance.       

Price (P) High (H) Low (L) Change (C) 52-week range (R) One-year return (Y)  

USA (US dollar)

Harley-Davidson    P 71.90  H 72.00  L 70.802  C +1.18%  R 74.13 – 49.15  Y +35.29%

Polaris    P 132.71  H 132.74  L 129.60  C 2.8%  R 146.99 – 91.05  Y +40.03%

Arctic Cat    P 37.56  H 37.68  L 35.732  C +6.61%  R 61.13 – 31.95  Y -19.18%

US Highland    P 0.50  H 0.50  L 0.0.38  C +16.28%  R 0.59 – 0.22  Y +38.89%

Viper    P 0.013  H 0.013  L 0.012  C N/A  R 0.10 – 0.001  Y N/A

Notes: Polaris makes ATVs, snowmobiles, Victory and Indian motorcycles. Arctic Cat makes ATVs and snowmobiles. US Highland makes a range of four-stroke dirt bikes. Viper Powersports produces the Diamondback Super Cruiser with a British-built 2490cc Ilmor engine.
 


CANADA (Canadian dollar)

BRP    P 28.93  H 29.18  L 28.80  C +0.07%  R 31.98 – 23.71  Y +18.57%

Notes: Bombardier Recreational Products makes Can-Am ATVs and Spyder road trikes, as well as Ski-Doo snowmobiles, Sea-Doo personal watercraft and Rotax engines for a range of applications including motorcycles — most recently Buell’s EBR superbike.
 


EUROPE (euro)

BMW    P 92.85  H 93.27  L 92.57  C +0.31%  R 94.39 – 63.82  Y +32.56%

Piaggio    P 2.698  H 2.708  L 2.644  C +1.28%  R 3.092 – 1.871  Y +29.34%

KTM    P 84.50  H 84.50  L 84.50  C +0.6%  R 86.00 – 50.15  Y +57.47%

VW    P 193.69  H 195.00  L 192.50  C +0.34%  R 198.43 – 142.05  Y +22.15%

Notes: Volkswagen is the owner of Ducati Motor Holding
 


INDIA (rupee)

Hero    P 2682.75  H 2700.00  L 2592.00  C +3.89%  R 2787.70 – 1563.60  Y +68.05%

Bajaj    P 2048.40  H 2054.00  L 1983.60  C +2.37%  R 2195.00 – 1680.05  Y +20.2%

TVS    P 130.80  H 133.85  L 130.00  C -0.15%  R 139.90 – 28.10  Y +278.16%  

Eicher    P 7192.85  H 7220.00  L 7140.50  C +0.71%  R 7500.00 – 2965.00  Y +103.7%

Mahindra    P 1232.80  H 1239.80  L 1195.25  C +2.5%  R 1278.70 – 740.15  Y +29.47%

Maharashtra    P 543.45  H 555.00  L 537.60  C -0.11%  R 555.00 – 326.65  Y +42.09%

Scooters India    P 33.50  H 33.50  L 31.30  C +4.85%  R 33.50 – 13.50  Y +62.62%

Notes: Hero MotoCorp is a former Honda JV partner. Bajaj has technical partnerships with KTM and Kawasaki. TVS is a former Suzuki JV partner. Bajaj and TVS also both export. Eicher makes the Royal Enfield brand. Mahindra & Mahindra has a technical partnership with Taiwanese brand SYM and an own-brand motorcycle range. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj, which is also a substantial shareholder in the company. Scooters India manufactured Lambretta scooters until 1997 but now only makes Vikram three-wheeled taxis and light trucks. The Indian government has a majority stake.
 


PAKISTAN (Pakistani rupee)

Atlas Honda    P 255.41  H 259.85  L 253.50  C -1.64%  R 328.00 – 180.11  Y N/A

Pak Suzuki    P 215.21  H 218.70  L 215.11  C -0.73%  R 232.64 – 119.00  Y N/A

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


JAPAN (yen)

Honda    P 3580  H 3606  L 3565  C +0.42%  R 4385 – 3292  Y +4.68%

Yamaha    P 1683  H 1704  L 1675  C +1.08%  R 1704 – 1217  Y +25.63%

Suzuki    P 3100  H 3129  L 3064  C -0.35%  R 3186 – 2051  Y +33.56%

Kawasaki    P 401  H 402  L 396  C +1.01%  R 496 – 283  Y +32.28%
 


CHINA (yuan)

Qianjiang    P 5.81  H 5.85  L 5.54  C +4.12%  R 6.54 – 4.27  Y +22.78%

Qingqi    P 3.98  H 4.02  L 3.95  C +0.25%  R 5.19 – 3.34  Y N/A

Zongshen    P 5.03  H 5.08  L 4.96  C -1.18%  R 5.77 – 3.92  Y +2.2%   

Sundiro    P 3.79  H 3.81  L 3.72  C +1.61%  R 4.84 – 3.37  Y -9.98%

Jialing    P 5.00  H 5.23  L 4.65  C +5.04%  R 5.23 – 2.90  Y +20.77%  

Lifan    P 6.82  H 6.86  L 6.74  C -0.15%  R 7.64 – 5.11  Y +6.2%

Loncin    P 8.50  H 8.55  L 8.40  C +0.12%  R 11.10 – 6.78  Y -4.56%

Linhai    P 5.98  H 6.03  L 5.92  C -0.66%  R 7.00 – 4.42  Y +5.47%

 


CHINA (Hong Kong dollar)

Jianshe    P 5.63  H 5.65  L 5.53  C -0.71%  R 6.80 – 5.16  Y N/A  

Guangzhou Auto    P 8.52  H 8.53  L 8.22  C +4.93%  R 10.94 – 6.48  Y +10.46%

Notes: Qianjiang owns both the exported Keeway brand and the formerly Italian Benelli brand. Qingqi is a Suzuki JV partner, a Peugeot scooter contractor and also makes Qingqi and Sinnis branded bikes. Zongshen produces own-brand bikes and proprietary engines, and has JV partnerships with Piaggio, producing scooters, and Harley-Davidson, making parts. Sundiro is the biggest Honda JV bike partner in China. Jialing makes and exports own-brand bikes using Honda licensed technology and is a Honda JV power products partner. Lifan makes and exports own-brand bikes, and distributes MV Agusta products 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. It also has JV car production partnerships with Honda and Toyota.
 


VIETNAM (Hong Kong dollar)

VMEPH    P 0.425  H 0.425  L 0.42  C +3.66%  R 0.66 – 0.40  Y –30.33%

Notes: Vietnam Manufacturing & Export Processing Holdings is the third-largest Vietnamese scooter and motorcycle manufacturer. It is a JV partnership with Taiwanese brand SYM. VMEPH is headquartered in Hong Kong and listed on both the HK and Taipei stock exchanges.
 


TAIWAN (Taiwanese dollar)

Sanyang    P 26.65  H 27.20  L 26.60  C +0.19%  R 63.00 – 25.00  Y -2.14%

Notes: Sanyang Industry is the leading Taiwanese powered two-wheeler manufacturer through its widely-exported SYM brand.
 


MALAYSIA (ringgit)

Oriental Holdings    P 8.00  H 8.05  L 7.80  C +2.56%  R 10.18 – 6.95  Y -20.74%

Hong Leong    P 6.68  H 6.71  L 6.65  C +0.45%  R 6.80 – 4.38  Y +58.29%

Notes: Oriental Holdings is a Honda JV partner. Hong Leong Industries is a Yamaha JV partner and former owner of the German MZ concern.
 


INDONESIA (rupiah)

Astra    P 7200  H 7250  L 7150  C +0.7%  R 8050 – 5100  Y +9.03%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is Jardine Matheson Holdings, a British-managed conglomerate domiciled in Hong Kong.
 


SOUTH KOREA (won)

KR    P 1035  H 1070  L 1015  C -2.36%  R 1495 – 414  Y +125.98%

Daelim    P 79,000  H 80,900  L 78,700  C -2.35%  R 110,000 – 77,000  Y -14.41%

Notes: KR Motors (formerly S&T) manufactures Hyosung-branded bikes and ATVs, exporting to the US, Europe including the UK and elsewhere. Daelim Industrial is a diversified conglomerate which retains a controlling 59 per cent stake in Daelim Motor, the largest motorcycle and scooter manufacturer in Korea. (The remainder is British-owned, by the private equity arm of Standard Chartered Bank.)

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