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HomeNEWSFINANCIAL8 JANUARY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICEs

8 JANUARY: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICEs

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

The opening week of 2016 proved to be one of the most costly for investors worldwide in recent memory, as a sell-off panic engulfed global markets. Almost 1.58 trillion quid was wiped off equity values over the five days.

A rag-bag of meddlesome Chinese stock exchange regulators were guilty parties in this fiasco, thanks to their ill-conceived introduction of automatic circuit-breakers in Shanghai and Shenzhen, designed to curb trading volatility. Instead, this imposition caused it.

Monday opened with a 7% fall in Shanghai’s Composite index and these breakers cut in to stop trading. Regulatory authorities then compounded their delinquency by bullying up markets with government-financed “buy” intervention until a second sell-off wave on Thursday brought down the shutters again. At that point, they apparently realised the error of their ways and suspended meddling rather than trading. Friday therefore saw a measure of calm return.

The Shanghai Composite ended 10% down despite a 2% rally on Friday. Week-on-week share price declines for virtually all Chinese motorcycle manufacturers reflected that. Only Honda car and bike assembly giant Guangzhou Auto stayed in the saddle during this stampede with only a minor loss.

However, serious damage to confidence went viral elsewhere while this was going on. Nervousness was compounded by poor year-end data on the health of China’s economy and a rout ensued. In New York, the S&P 500 posted a weekly fall of 4.89%. London’s FTSE 100 was down by 5.28%. The eurozone’s Eurofirst 300 sank by 6.74%. The Nikkei 225 in Tokyo dropped by 7.01%. And India’s BSE Sensex 30 suffered a 4.69% retreat.

Every listed bike-related stock of any note took some degree of week-on-week punishment. US benchmarks Harley-Davidson and Polaris incurred respective 3.6% and 6.5% falls. Europe’s finest took a bigger kicking. BMW was 15.7% down. Daimler fell by 10.2%. VW slid by 10.2%. Piaggio lost 13.3%. All the Indian majors retreated too — but by smaller margins. Japan felt greater pain. Honda and Yamaha received the worst beatings, respectively heading south by 10.4% and 10%. Kawasaki was next in line, down by 9.7%, while Suzuki dropped by 6.3%.     

                                

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

 

USA (US dollar)

Harley-Davidson    P 43.75  C +1.44%  R 66.53 – 42.51  Y -30.93%

Polaris    P 80.40  C -2.42%  R 158.24 – 80.30  Y -43.89%

Arctic Cat    P 14.34  C -4.21%  R 39.72 – 14.22  Y -60.64%

US Highland    P 0.20  C -11.86%  R 1.05 – 0.11  Y N/A

Viper    P 0.0008  C N/A  R N/A  Y N/A 

Confederate    P 0.15  C +0.54%  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 18.98  C -0.68%  R 29.80 – 18.75  Y -17.73%

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 20.85  C +0.97%  R 28.75 – 19.15  Y -24.86%

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

VIETNAM (Hong Kong dollar)

VMEPH    P 0.43  C +3.66%  R 0.85 – 0.40  Y -13.27%

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

 

INDONESIA (rupiah)

Astra    P 6050  C +1.26%  R 8575 – 4975  Y -10.97%

Indomobil    P 2170  C +0.93%  R 4200 – 1860  Y -42.73%

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 82.30  C -2.04%  R 123.75 – 72.05  Y -4.58%

Daimler    P 68.01  C -0.41%  R 96.07 – 62.05  Y -0.05%

VW    P 124.62  C +1.88%  R 254.99 – 95.00  Y -28.56%

KTM    P 125.00  C N/A  R 140.00 – 99.69  Y -6.24%

Piaggio    P 2.01  C -2.8%  R 3.18 – 2.00  Y -16.66%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 390.00  C N/A  R 414.80 – 311.37  Y N/A

Pak Suzuki    P 507.99  C +0.37%  R 512.00 – 330.00  Y N/A

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

 

INDIA (rupee)

Hero    P 2489.65  C -1.21%  R 3011.00 – 2251.30  Y -15.88%

Bajaj    P 2375.85  C -1.79%  R 2656.00 – 1912.50  Y +1.99%

TVS    P 285.10  C +2.66%  R 322.30 – 201.00  Y -3.14% 

Eicher    P 17,241.40  C +1.21%  R 21,620.00 – 13,900.10  Y +17.34%

Mahindra    P 1198.00  C +0.05%  R 1442.05 – 1092.15  Y -2.34%

Maharashtra    P 1397.45  C +2.43%  R 1619.00 – 785.85  Y +44.99%

Scooters India    P 31.10  C +3.32%  R 35.45 – 21.75  Y -9.06%

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 3502  C -0.62%  R 4499 – 3441  Y +1.44%

Yamaha    P 2470  C -0.48%  R 3245 – 2108  Y +2.75%

Suzuki    P 3471  C -0.69%  R 4780.5 – 3411.5  Y -3.59%

Kawasaki    P 408  C +0.74%  R 647 – 398  Y -25.29%

 

CHINA (yuan)

Qianjiang    P 8.98  C +0.45%  R 17.11 – 5.55  Y +44.37%

Zongshen    P 10.92  C +0.74%  R 30.15 – 8.11  Y +28.47%  

Sundiro    P 6.90  C +2.37%  R 12.69 – 4.70  Y +32.44%

Jialing    P 8.12  C +0.25%  R 16.34 – 5.27  Y +6.7% 

Lifan    P 13.32  C -2.7%  R 27.99 – 8.31  Y +53.5%

Loncin    P 19.04  C +0.32%  R 39.48 – 13.00  Y +37.58%

Linhai    P 11.02  C +1.1%  R 14.71 – 7.91  Y +32.61%

GAG    P 22.05  C +7.93%  R 24.85 – 7.80  Y +156.56%

 

CHINA (Hong Kong dollar)

Jianshe    P 17.70  C +5.99%  R 19.99 – 6.85  Y +128.39%

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 6.92  C -0.14%  R 7.93 – 6.48  Y +1.1%

Hong Leong    P 5.97  C +1.02%  R 6.30 – 4.21  Y +45.51%

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

 

SOUTH KOREA (won)

KR    P 1235  C +0.41%  R 1770 – 905  Y +19.32%

Daelim    P 63,300  C -0.78%  R 98,000 – 50,400  Y +6.21%

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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