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HomeNEWSFINANCIAL8 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

8 APRIL: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 8 April 2016.

Pretty much a roller-coaster week everywhere with divergent threads such as rapid yen appreciation pushing investors towards pessimism while a bounce in oil prices boosted them — certainly towards the weekend.

In New York, that rebound failed to overcome a weekly 1.49% fall for the S&P 500 index. However, leading US motorcycle manufacturers performed far worse than that. Harley-Davidson stock nose-dived by 13.6%, completely wiping out recent gains. Driving force behind such a sudden reversal was the opinion of an analyst at ITG Research suggesting its first-quarter domestic sales might be as much as 7% down. Polaris was also having a tough time until another analyst at Longbow confirmed ITG’s view but said one cause was the resurgent Indian brand eating into Harley’s market share. As a result, Indian parent Polaris recovered sharply on Friday to finish 4.1% in arrears.

Across Europe, the oil-price reboot rallied shares on Thursday so the eurozone’s Eurofirst 300 experienced only a weekly 0.19% drop by close of play. Energy companies were the main beneficiaries, though, and every motorcycle-related listing lost ground. Volkswagen is now 50% lower since being engulfed by diesel emission woes.

Elsewhere in the developed world, Japanese exporters hit with a remorselessly stronger yen dragged Tokyo’s Nikkei 225 south by 2.12%. Honda, Yamaha and Kawasaki shares were part of this negativity. Suzuki escaped any loss on the back of latest muscular sales figures from its Maruti car subsidiary in India.

Speaking of which, while rising oil prices may be good news for some, big emerging countries like India are large-scale energy importers and therefore distinctly unhappy about it. No surprise then to see the BSE Sensex 30 falling by 2.36% and most Indian bike producers suffering share-price declines. China was less upset. Shanghai’s Composite index actually rose by 0.2%. Virtually all of its listed motorcycle manufacturers enjoyed weekly improvements, some by much better margins.               

          

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

 

USA (US dollar)

Harley-Davidson    P 44.62  C +0.27%  R 62.96 – 36.36  Y -26.67%

Polaris    P 94.32  C +2.92%  R 156.35 – 67.80  Y -33.05%

Arctic Cat    P 15.10  C +1.75%  R 39.00 – 8.90  Y -57.16%

US Highland    P 0.09  C +20%  R 1.05 – 0.06  Y N/A

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 19.25  C +0.21%  R 29.80 – 13.76  Y -22.69%

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 21.30  C +1.43%  R 28.75 – 19.15  Y -22.97%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.42  C N/A  R 0.85 – 0.36  Y -13.4%

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

 

INDONESIA (rupiah)

Astra    P 7200  C -1.37%  R 8225 – 4975  Y -8.68%

Indomobil    P 1990  C N/A  R 4200 – 1860  Y -48.83%

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 74.22  C +1.05%  R 117.90 – 65.99  Y -34.83%

Daimler    P 59.64  C +0.25%  R 92.70 – 57.01  Y -28.93%

VW    P 120.08  C +0.38%  R 245.30 – 95.00  Y -49.74%

KTM    P 122.60  C +0.08%  R 131.50 – 99.69  Y -5.59%

Piaggio    P 1.75  C +2.94%  R 3.18 – 1.56  Y -37.62%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 382.50  C -0.13%  R 414.80 – 320.05  Y N/A

Pak Suzuki    P 420.00  C +0.75%  R 532.00 – 378.15  Y N/A

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

 

INDIA (rupee)

Hero    P 2915.70  C -1.76%  R 3013.00 – 2251.30  Y +15.72%

Bajaj    P 2389.45  C +0.46%  R 2656.00 – 1912.50  Y +18.7%

TVS    P 313.00  C -0.24%  R 329.50 – 201.00  Y +23.48% 

Eicher    P 19,181.20  C +1.57%  R 21,620.00 – 13,900.10  Y +18.83%

Mahindra    P 1232.25  C +1.62%  R 1442.05 – 1091.25  Y -3.34%

Maharashtra    P 1209.45  C +0.76%  R 1619.00 – 826.10  Y +44.57%

Scooters India    P 25.00  C -4.94%  R 35.05 – 21.75  Y -13.79%

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 2882.5  C +1.07%  R 4499 – 2726  Y -29.21%

Yamaha    P 1663  C +1.77%  R 3245 – 1581  Y -43.67%

Suzuki    P 2940  C +1.03%  R 4780.5 – 2662.5  Y -19.05%

Kawasaki    P 287  C +2.14%  R 647 – 269  Y -51.67%

 

CHINA (yuan)

Qianjiang    P 13.47  C +2.81%  R 17.11 – 5.55  Y +45.62%

Zongshen    P 10.45  C +0.87%  R 30.15 – 8.08  Y -38.46%  

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 11.79  C -5%  R 27.99 – 8.05  Y -10.5%

Loncin    P 18.12  C +1.17%  R 39.48 – 13.00  Y -5.61%

Linhai    P 11.35  C -0.18%  R 14.71 – 8.41  Y -18.23%

GAG    P 20.73  C -1.1%  R 24.85 – 10.05  Y +101.47%

 

CHINA (Hong Kong dollar)

Jianshe    P 16.74  C +1.45%  R 19.99 – 7.72  Y +69.09%

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 7.03  C -0.28%  R 7.93 – 6.48  Y +6.53%

Hong Leong    P 6.80  C -0.73%  R 7.05 – 4.40  Y +59.13%

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

 

SOUTH KOREA (won)

KR    P 1160  C -1.69%  R 1770 – 905  Y -24.43%

Daelim    P 88,200  C +0.92%  R 98,000 – 59,600  Y +27.84%

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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