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HomeNEWSFINANCIAL9 DECEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

9 DECEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday, 9 December, 2016.

Riding pillion on bullish sentiment from New York, the past week saw developed-world equities stacking on value. Wall Street’s S&P 500 index rallied 2.8%, still driven by an upbeat appreciation of president-elect Trump as business-friendly. However, Harley-Davidson couldn’t reach that performance, gaining only 1.8%. Polaris actually went backwards, 1.9% in arrears.

European optimism was even stronger, as both the Stoxx 600 and Eurofirst 300 indices added 4.8%. The three big German automotives with motorcycling interests all beat that. BMW shares led the field with a 12.2% rise. Daimler and VW respectively posted 9.5% and 5.6% improvements. Piaggio benefited too in Milan but wasn’t quite on the pace at a mere 3.3% hike. KTM finished 2.9% down after a mid-week peak, due to what was clearly a bout of profit-taking.

Climbing by 3.1%, Tokyo’s Nikkei 225 achieved its highest level for 12 months with a fifth consecutive weekly advance, as the yen continued to weaken against the US dollar. As fully-paid-up exporters cashing in on such fortuitous circumstance, the four Japanese bike manufacturers all enjoyed strengthening stock prices. Kawasaki topped the pile, 7.9% up. Suzuki rose by 5.6% and Honda 3.1% — bang on the market average. Yamaha only managed to save face with a marginal 0.3% lift.

Best of major emerging markets was India, where the BSE Sensex 30 grew by 2% following reports that consumer activity had begun the recovery from a botched governmental “demonetisation” programme to combat tax evasion. All the major indigenous motorcycle producers made modest stock price gains, approximately in line with their local index.

Despite release of some strong export growth data in China, Shanghai’s Composite fell back slightly by 0.3%. Most bike industry shares successfully bucked negativity, though. But those that didn’t — Zongshen, Guangzhou Auto and Jianshe — suffered only very marginal losses.                                  

          

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

 

USA (US dollar)

Harley-Davidson    P 60.81  C -1.23%  R 62.35 – 36.36  Y +36.47%

Polaris    P 85.84  C -2.17%  R 104.25 – 67.80  Y -5.79%

Arctic Cat    P 16.29  C +2.78%  R 20.06 – 8.90  Y -10.64%

US Highland    P 0.0008  C -11.11%  R 0.43 – 0.0002  Y N/A

Confederate    P 0.05  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 28.21  C +9.6%  R 28.30 – 13.76  Y +27.65%

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 21.00  C +0.24%  R 23.90 – 19.80  Y -0.84%

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 +5.43%

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

 

INDONESIA (rupiah)

Astra    P 7825  C +0.32%  R 8875 – 5700  Y +35.82%

Indomobil    P 1395  C -0.36%  R 2395 – 1250  Y -29.78%

Notes: Astra International is a Honda JV partner. Its controlling shareholder is British conglomerate Jardine Matheson. Indomobil Sukses International is a Suzuki JV partner.

 

EUROPE (euro)

BMW    P 89.39  C +0.94%  R 99.49 – 52.80  Y +0.18%

Daimler    P 68.28  C +0.47%  R 79.50 – 50.83  Y -2.44%

VW    P 134.37  C -0.83%  R 146.01 – 106.65 Y -1.75%

KTM    P 5.02  C -3.07%  R 5.40 – 3.25  Y +34.98%

Piaggio    P 1.58  C +0.7%  R 2.37 – 1.39  Y -25.15%

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

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 573.00  C -0.24%  R 620.00 – 349.60  Y N/A

Pak Suzuki    P 523.00  C -0.36%  R 595.00 – 363.01  Y N/A

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

 

INDIA (rupee)

Hero    P 3277.35  C -1.17%  R 3740.00 – 2375.00  Y +32.84%

Bajaj    P 2720.15  C -2.1%  R 3122.00 – 2171.95  Y +15.29%

TVS    P 363.45  C +0.04%  R 420.00 – 256.00  Y +34.25% 

Eicher    P 22,844.35  C -1.74%  R 26,641.30 – 14,800.00  Y +47.61%

Mahindra    P 1188.35  C -1.72%  R 1508.95 – 1091.25  Y -5.04%

Maharashtra    P 1612.75  C -1.21%  R 2170.00 – 1056.00  Y +18.73%

Scooters India    P 35.90  C -1.78%  R 44.85 – 22.65  Y +27.99%

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 3473  C +1.05%  R 4094 – 2417  Y -8.66%

Yamaha    P 2728  C -0.91%  R 2952 – 1409  Y -2%

Suzuki    P 4002  C +2.12%  R 4069 – 2450  Y +9.31%

Kawasaki    P 398  C +1.79%  R 470 – 257  Y -11.59%

 

CHINA (yuan)

Qianjiang    P 17.09  C -0.12%  R 20.48 – 6.71  Y +54.94%

Zongshen    P 9.81  C -1.21%  R 14.93 – 8.08  Y -25.19%  

Sundiro    P 9.47  C +4.99%  R 9.94 – 5.61  Y +24.28%

Jialing    P 8.99  C -0.66%  R 10.53 – 5.67  Y -2.6%

Lifan    P 9.45  C +0.11%  R 18.07 – 8.05  Y -40.54%

Loncin    P 22.58  C -1.53%  R 25.52 – 14.80  Y +2.34%

Linhai    P 13.31  C -1.19%  R 14.71 – 8.41  Y N/A

GAG    P 24.40  C -1.97%  R 26.27 – 18.10  Y +16.86%

 

 

CHINA (Hong Kong dollar)

Jianshe    P 13.92  C N/A  R 19.20 – 11.25  Y -14.97%

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 6.85  C N/A  R 7.52 – 6.48  Y +0.76%

Hong Leong    P 9.75  C +0.21%  R 10.08 – 5.25  Y +69.31%

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

 

SOUTH KOREA (won)

KR    P 770  C N/A  R 1770 – 661  Y -21.19%

Daelim    P 83,100  C -0.24%  R 94,300 – 62,000  Y +27.44%

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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