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9 SEPTEMBER: WEEKLY MOTORCYCLE INDUSTRY SHARE PRICES

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

Returning from their summer holidays in droves, investors in developed markets snorted a bad smell from the European Central Bank’s reluctance to initiate more quantitative easing, linked that to US Federal Reserve vacillation on interest rate rises and the ongoing oil price yo-yo, then began selling equities. Analysts reckon global stocks now face a sharpest decline since the UK’s Brexit vote in June during the next few days.

Americans got their retaliation in early. An 0.83% weekly fall for New York’s S&P 500 index masked worse suffering for some share categories. Harley-Davidson lost 4.7% and Polaris was 3.7% down.

The sell-off swiftly spread to Europe, where the eurozone’s Eurofirst 300 sank by 1.38% and the FTSE100 in London by 1.71%. Pressure in Germany was muted. Only BMW took a big hit of 2.8% while VW and Daimler were flat. Piaggio also dropped by 2.8% in Milan. KTM parent Cross, now freshly remonikered as KTM Industries, splendidly bucked this trend, though, with a 9.5% upwards spike.

Japan was fairly flat, its Nikkei 225 slightly positive by 0.23%, as the yen’s remorseless strengthening was tempered somewhat. Having said that, North Korea exploding a hydrogen bomb in the immediate vicinity didn’t do much to steady nerves. Honda and Kawasaki both lost a bit of ground. Yamaha and Suzuki slavishly followed index sentiment by holding station.

Emerging countries were fractionally brighter. The Bombay Stock Exchange’s Sensex 30 yardstick posted a weekly rise of 1.32%, although that included an abrupt fall of 0.75% on Friday, post-nuke. Most listed Indian motorcycle manufacturers made gains. TVS and Mahindra were the exceptions. China’s Shanghai Composite was much weaker, up by just 0.36%. But Chinese bikers blithely ignored that, almost all adding respectable value.  

                                

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

USA (US dollar)

Harley-Davidson    P 50.57  C -3.46%  R 57.33 – 36.36  Y -4.83%

Polaris    P 80.84  C -2.36%  R 131.71 – 67.80  Y -35.27%

Arctic Cat    P 14.12  C -0.63%  R 25.73 – 8.90  Y -41.17%

US Highland    P 0.0011  C -8.33%  R 0.65 – 0.0010  Y N/A

Confederate    P 0.06  C N/A  R 0.33 – 0.05  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 Combat Fighter cruisers.

 

CANADA (Canadian dollar)

BRP    P 25.21  C -0.59%  R 27.60 – 13.76  Y -5.23%

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 21.25  C -2.07%  R 24.35 – 19.80  Y -1.22%

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

 

VIETNAM (Hong Kong dollar)

VMEPH    P 0.45  C +3.49%  R 0.53 – 0.36  Y -1.11%

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

 

INDONESIA (rupiah)

Astra    P 8225  C -0.9%  R 8650 – 4975  Y +38.35%

Indomobil    P 1500  C +1.69%  R 3100 – 1250  Y -45.18%

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 76.30  C -1.32%  R 104.85 – 63.38  Y -7.19%

Daimler    P 62.91  C -1.35%  R 85.50 – 50.83  Y -10.28%

VW    P 130.63  C -0.9%  R 169.73 – 95.00 Y -21.7%

KTM    P 4.05  C +1.2%  R 4.09 – 3.05  Y +16.62%

Piaggio    P 1.79  C -1.19%  R 2.54 – 1.45  Y -26.51%

Notes: Daimler’s AMG-Mercedes subsidiary has a 25% stake in MV Agusta. Volkswagen Group owns Ducati. KTM owner Cross has changed its name to KTM Industries.

 

PAKISTAN (Pakistani rupee)

Atlas Honda    P 489.00  C +2.32%  R 490.00 – 320.05  Y N/A

Pak Suzuki    P 519.00  C +3.02%  R 532.00 – 363.01  Y N/A

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

 

INDIA (rupee)

Hero    P 3621.20  C -2.23%  R 3740.00 – 2300.00  Y +56.76%

Bajaj    P 3036.45  C -1.69%  R 3122.00 – 2171.95  Y +33.71%

TVS    P 329.80  C -2.38%  R 342.50 – 220.00  Y +41.98% 

Eicher    P 22,925.05  C -2.11%  R 23,572.95 – 14,800.00  Y +22.08%

Mahindra    P 1472.45  C -1.32%  R 1508.95 – 1091.25  Y +27.28%

Maharashtra    P 1522.55  C -1.05%  R 1694.95 – 936.60  Y +60.78%

Scooters India    P 33.55  C +1.21%  R 43.00 – 22.65  Y +42.16%

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 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 3136  C -0.98%  R 4142 – 2417  Y -13.34%

Yamaha    P 2082  C -0.67%  R 3045 – 1409  Y -8.26%

Suzuki    P 3487  C -0.88%  R 4103 – 2450  Y -7.02%

Kawasaki    P 317  C +1.28%  R 502 – 257  Y -27.17%

 

CHINA (yuan)

Qianjiang    P 16.30  C -0.61%  R 17.78 – 5.83  Y +130.55%

Zongshen    P 9.91  C N/A  R 18.20 – 8.08  Y -11.26%  

Sundiro    P 9.54  C +2.69%  R 9.87 – 5.53  Y N/A

Jialing    P 7.57  C -0.92%  R 10.99 – 5.67  Y +0.8%

Lifan    P 10.58  C -1.4%  R 19.47 – 8.05  Y +4%

Loncin    P 21.42  C -0.09%  R 25.52 – 13.22  Y +34.54%

Linhai    P 12.65  C -2.62%  R 14.71 – 8.41  Y N/A

GAG    P 23.38  C +0.56%  R 26.27 – 17.05  Y +28.51%

 

CHINA (Hong Kong dollar)

Jianshe    P 14.02  C -0.07%  R 19.20 – 11.25  Y N/A

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 6.81  C +0.15%  R 7.52 – 6.48  Y +5.75%

Hong Leong    P 9.05  C -1.84%  R 9.80 – 5.03  Y +85.59%

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

 

SOUTH KOREA (won)

KR    P 1060  C -1.85%  R 1770 – 905  Y +6.32%

Daelim    P 78,200  C -0.26%  R 94,300 – 62,000  Y +18.12%

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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