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HomeNEWSFINANCIAL9 JANUARY — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

9 JANUARY — WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

A snapshot of global bike and ATV industry share performance at the trading closure on Friday 9 January 2015.

Global stock performance was mixed during the first full week’s trading in 2015, primarily un-nerved by uncertainties over a potential rise in US interest rates following strengthening economic data and deflation in the eurozone.

Despite two days of serious gains, New York’s S&P 500 index recorded a weekly fall of 0.49 per cent. Share prices for America’s two biggest bike manufacturers, Harley-Davidson and Polaris, both declined ahead of that. However, analyst reports of weaker-than-expected domestic motorcycle sales in the fourth quarter of 2014 and how that might affect impending full-year financial results will have had some bearing on industry-specific investor decisions.

In Europe, the FTSE Eurofirst 300 was down by 1.07 per cent as the European Central Bank remained vague on plans for anticipated quantatitive easing (money-printing…) to tackle eurozone economic stagnation. Almost all motocycle-related stocks bucked that trend, though. The exception was KTM, suffering a modest decline almost certainly associated with judicious profit-taking rather than any concerns about corporate health.

Tokyo’s Nikkei 225 tanked even more, losing 1.45 per cent but three of the Big Four Japanese bike makers weathered that with impunity, only Suzuki suffering a slight loss.

India was more mixed, as three of its five big-league motorcycle producers experienced share price declines. Again, New Year profit-taking undoubtedly played a role in that.

In China, where the Shanghai Composite index has risen by nearly nine per cent in the past month alone, it was casino-style business as usual. Eight of that country’s ten listed bike manufacturers added value by the end of the week — some by considerable margins — but prices were up and down like the proverbial stripper’s knickers on a daily basis as speculative volatility continued unabated.         

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


USA (US dollar)

Harley-Davidson    P 64.80  H 66.53  L 64.56  C -2.01%  R 74.13 – 54.22  Y -5.38%

Polaris    P 145.61  H 150.50  L 145.23  C -4.74%  R 159.33 – 118.80  Y +2.75%

Arctic Cat    P 37.09  H 37.67  L 36.68  C -0.64%  R 59.00 – 30.11  Y -35.26%

US Highland    P 0.51  H 0.51  L 0.51  C N/A  R 0.60 – 0.13  Y N/A

Viper    P 0.0012  H 0.0012  L 0.0012  C N/A  R 0.05 – 0.0012  Y N/A

Notes: Polaris makes Victory and Indian motorcycles, ATVs, snowmobiles, quadricycles and EVs. 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 23.07  H 23.61  L 22.95  C -0.69%  R 31.98 – 20.67  Y -24.73%

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 88.65  H 90.05  L 87.48  C -0.45%  R 96.10 – 74.74  Y +9.16%

Daimler    P 69.94  H 71.05  L 69.00  C +0.65%  R 71.27 – 55.10  Y +16.06%

Piaggio    P 2.476  H 2.524  L 2.43  C +0.24%  R 3.092 – 1.93  Y +6.36%

KTM    P 135.00  H 135.00  L 135.00  C N/A  R 141.00 – 64.50  Y +84.61%

VW    P 178.328  H 182.80  L 176.35  C -1.42%  R 198.43 – 147.35  Y -6.57%

Notes: Daimler has a 25 per cent stake in MV Agusta through its AMG-Mercedes subsidiary. Volkswagen is the owner of Ducati Motor Holding


INDIA (rupee)

Hero    P 2992.25  H 3011.00  L 2966.25  C +0.28%  R 3271.80 – 1907.00  Y +52.17%

Bajaj    P 2375.85  H 2468.90  L 2350.00  C -3.04%  R 2695.00 – 1793.20  Y +27.74%

TVS    P 296.50  H 300.10  L 291.00  C +0.1%  R 300.10 – 64.00  Y +323.08%  

Eicher    P 14,738.70  H 14,980.00  L 14,550.00  C -0.91%  R 15,785.00 – 4401.10  Y +195.85%

Mahindra    P 1238.20  H 1246.00  L 1225.00  C +0.05%  R 1433.70 – 846.25  Y +43.26%

Maharashtra    P 988.55  H 1022.00  L 981.25  C -1.13%  R 1124.00 – 403.00  Y +143.23%

Scooters India    P 34.20  H 35.45  L 33.20  C N/A  R 38.85 – 14.20  Y +120.65%

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 326.00  H 333.33  L 324.00  C -0.61%  R 355.57 – 209.00  Y N/A

Pak Suzuki    P 392.00  H 398.00  L 389.25  C +2.07%  R 414.50 – 150.11  Y N/A

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


JAPAN (yen)

Honda    P 3531.5  H 3543  L 3511  C +1.15%  R 4270 – 3239  Y -15.16%

Yamaha    P 2443  H 2485  L 2421  C +1.92%  R 2655 – 1265  Y +59.45%

Suzuki    P 3631.5  H 3697.5  L 3614.5  C -0.87%  R 4041 – 2497  Y +26.01%

Kawasaki    P 559  H 567  L 554  C +2.57%  R 589 – 350  Y +21.4%


CHINA (yuan)

Qianjiang    P 6.22  H 6.29  L 6.20  C -0.32%  R 7.89 – 4.76  Y +29.85%

Qingqi    P 5.82  H 5.97  L 5.80  C -2.51%  R 7.34 – 3.34  Y N/A

Zongshen    P 8.51  H 8.64  L 8.32  C +1.43%  R 10.82 – 3.92  Y +108.81%   

Sundiro    P 5.21  H 5.33  L 5.20  C -0.95%  R 5.95 – 3.48  Y +49.67%

Jialing    P 7.61  H 7.73  L 7.56  C +0.13%  R 9.28 – 3.01  Y +143.13%  

Lifan    P 8.84  H 8.98  L 8.83  C -0.56%  R 10.64 – 5.65  Y +60.08%
 
Loncin    P 14.00  H 14.40  L 14.00  C -2.1%  R 18.81 – 8.24  Y +61.8%

Linhai    P 8.31  H 8.59  L 8.00  C -3.15%  R 11.39 – 4.80  Y +69.37%
 


CHINA (Hong Kong dollar)

Jianshe    P 7.75  H 7.86  L 7.65  C -0.64%  R 9.40 – 5.28  Y +44.05%  

Guangzhou Auto    P 7.13  H 7.24  L 7.09  C +0.42%  R 9.87 – 6.72  Y -7.6%

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 0.49  H 0.49  L 0.48  C +6.52%  R 0.69 – 0.40  Y -5.77%

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 27.75  H 28.00  L 27.65  C -0.36%  R 63.00 – 25.20  Y -40.13%

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


MALAYSIA (ringgit)

Oriental Holdings    P 7.16  H 7.16  L 7.00  C +2.29%  R 8.32 – 6.48  Y -10.81%

Hong Leong    P 4.34  H 4.40  L 4.32  C +0.23%  R 7.543 – 3.95  Y +7.9%

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 7025  H 7125  L 7000  C -0.71%  R 8050 – 6225  Y +7.25%

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 1050  L 1005  C +1.47%  R 1495 – 425  Y +134.69%

Daelim    P 59,600  H 60,300  L 59,100  C +1.53%  R 94,700 – 57,300  Y -28.54%

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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