6 NOVEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 6 November 2015.

Good news for the US economy, led by October’s monthly employment growth data far exceeding estimates, pushed up the dollar’s value and unsettled equity investors towards the end of the week. Wall Street’s S&P 500 index therefore lost most of its earlier gains and finished just 0.55% up. Harley-Davidson sank marginally but Polaris rose a bit.

American good fortune also boosted Europe as the euro dropped against the dollar and made exporters smile. Among them, almost all of the European motorcycle-related shares posted gains. Piaggio, additionally aided by half-year results featuring revenue recovery, led the pack with a 6.2% weekly improvement. The exception was Volkswagen, inevitably, as fresh emissions irregularity revelations muddied its waters further. The Eurofirst 300 index grew by 0.98%.

Japan also enjoyed a stronger dollar and therefore weaker yen, as the Nikkei 225 delivered a third successive weekly increase of 0.96%. But, mysteriously, only Yamaha was positive among that nation’s Big Four bike producers.

In emerging markets, India was mixed. Bajaj suffered a minor drop but Royal Enfield parent Eicher copped a 5.9% negativity slap. Everything else on two wheels crept up a bit. China was much more bullish with a stream of steady gains from listed biking bets, despite nerves about the danger of another bubble.                             

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

USA (US dollar)

Harley-Davidson    P 49.16  C -0.71%  R 70.41 – 46.47  Y -24.04%

Polaris    P 114.02  C -0.28%  R 159.33 – 104.10  Y -26.11%

Arctic Cat    P 21.95  C +2%  R 39.72 – 16.60  Y -34.14%

US Highland    P 0.42  C N/A  R 1.05 – 0.13  Y N/A

Viper    P 0.001  C N/A  R 0.0048 – 0.001  Y -44.62%

Confederate    P 0.30  C +20%  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 23.17  C -0.09%  R 29.80 – 20.67  Y -8.31%

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 21.95  C -0.23%  R 31.60 – 19.15  Y -19.6%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.50  C N/A  R 0.85 – 0.40  Y +6.45%

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

INDONESIA (rupiah)

Astra    P 6600  C +1.54%  R 8575 – 4975  Y -1.83%

Indomobil    P 2755  C +0.18%  R 4200 – 2610  Y -20.49%

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 95.81  C +3.46%  R 123.75 – 72.05  Y +18.35%

Daimler    P 79.77  C +2.13%  R 96.07 – 60.22  Y +32.03%

VW    P 122.20  C +0.87%  R 254.99 – 95.00  Y -26.87%

KTM    P 122.00  C N/A  R 141.00 – 99.69  Y +10.8%

Piaggio    P 2.40  C +4.99%  R 3.18 – 2.10  Y +12.82%

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

PAKISTAN (Pakistani rupee)

Atlas Honda    P 394.50  C -0.38%  R 414.80 – 285.61  Y N/A 

Pak Suzuki    P 472.99  C -0.2%  R 493.00 – 327.00  Y N/A

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

INDIA (rupee)

Hero    P 2639.85  C +0.04%  R 3271.80 – 2251.30  Y -7.57%

Bajaj    P 2429.45  C +0.63%  R 2695.00 – 1912.50  Y -2.44%

TVS    P 283.30  C +0.75%  R 322.30 – 201.00  Y +12.69%  

Eicher    P 16,693.35  C -5.57%  R 21,620.00 – 12,629.80  Y +32.1% 

Mahindra    P 1249.55  C -0.81%  R 1442.05 – 1092.15  Y +1.79% 

Maharashtra    P 1368.20  C -3.87%  R 1523.95 – 785.85  Y +47.99% 

Scooters India    P 30.85  C +3.52%  R 38.85 – 21.75  Y -17.07% 

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 3988  C +0.81%  R 4499 – 3382.5  Y +11.98%

Yamaha    P 2816  C +0.25%  R 3245 – 2108  Y +23.66%

Suzuki    P 3938  C -0.81%  R 4780.5 – 3411.5  Y +13.19%

Kawasaki    P 474  C +0.42%  R 647 – 398  Y +6.64%

CHINA (yuan)

Qianjiang    P 9.14  C +4.94%  R 17.11 – 5.55  Y +31.89%

Zongshen    P 16.48  C +7.08%  R 30.15 – 7.75  Y +79.92%   

Sundiro    P 7.51  C +3.73%  R 12.69 – 4.70  Y +42.78%

Jialing    P 9.18  C +1.66%  R 16.34 – 5.27  Y +25.07%  

Lifan    P 13.96  C +1.23%  R 27.99 – 8.31  Y +45.41% 

Loncin    P 21.63  C +1.45%  R 39.48 – 12.82  Y +25.76%

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

Guangzhou Auto    P 23.15  C +3.21%  R 23.65 – 7.76  Y +195.61%

CHINA (Hong Kong dollar)

Jianshe    P 11.38  C N/A  R 19.99 – 6.85  Y N/A [Trading suspended] 

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 7.10  C +0.71%  R 7.93 – 6.46  Y -1.19%

Hong Leong    P 6.23  C N/A  R 6.30 – 4.05  Y +40.54%

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

SOUTH KOREA (won)

KR    P 1040  C -0.95%  R 1600 – 833  Y +15.56%

Daelim    P 75,100  C -3.96%  R 98,000 – 50,400  Y +5.05%

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.)