A snapshot of bike and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 16 December 2022. BDN financial editor Roger Willis reports.
USA — TEMPORARY CONFIDENCE BOOSTER
In a sobering spectacle halfway through the final month of 2022, every leading stock market index worldwide with listings related to the motorcycle industry suffered losses.
However, America got off to a good start. November’s US consumer price inflation slowed to an annualised 7.1%, down from 7.7% in October and the smallest 12-month increase since December 2021. Equities markets rallied sharply. And then confidence was further boosted by the US Federal Reserve limiting its latest base interest rise to just 0.5%.
Seasonal bonhomie was brief, though. Fed chairman Jerome Powell joined in a chorus of caution from Bank of England governor Andrew Bailey and European Central Bank president Christine Lagarde — both of whom had also raised their base rates by 0.5% during the week. They concurred that the inflationary menace was far from beaten and additional rate hikes would be a regular feature of the foreseeable future, provoking immediate share sell-offs on both sides of the Atlantic.
So US market indices closed on yet another hammering. The blue-chip S&P 500 and S&P’s MidCap 400 both slumped by 2.1%. The Dow Jones Industrial Average and Nasdaq Composite respectively finished 1.7% and 2.7% in arrears.
Biker stocks generally reflected this mood swing. Quickly losing early gains, Harley-Davidson eventually suffered a third week of negativity. Its stumbling sparky offshoot LiveWire fared far worse. Polaris sank pretty much in unison with petrolhead brethren.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 44.46 | -1.5% | -7.8% |
| Polaris Industries | 103.27 | -1.7% | -11.4% |
| Textron | 70.00 | -2.4% | -1.2% |
| Ideanomics (Energica) | 0.21 | +1.9% | -19.2% |
| Niu Technologies | 4.93 | -15.1% | +53.1% |
| LiveWire | 5.30 | -8.6% | -19.1% |
EUROPE — SHARING THE GLOOM
ECB eurozone interest rate intervention and pessimistic words from Lagarde ensured a concentrated run for cover by Teutonic investors. Frankfurt’s Xetra Dax stock index plunged by 3.3%. Biker-related and Dax-listed German automotives split the difference. On the Wiener Börse, KTM parent Pierer finished 3.2% down. The FTSE MIB in Milan sank by 2.4%. Primary Italian PTW flag carrier Piaggio wasn’t far behind.
| Currency: euro | Price | Week | Month |
| BMW | 82.40 | -2.5% | -2.2% |
| Volkswagen | 170.25 | -4.2% | -10.6% |
| Pierer Mobility | 61.00 | -3.2% | +5.5% |
| Piaggio Group | 2.84 | -2.1% | +1.8% |
JAPAN — RAGGED NERVES
The hawkish tone of central bankers in the developed world stoked global recession fears and also helped to destabilise already weak Japanese sentiment. Tokyo’s Nikkei 225 index finished 1.3% lower. But among exporting biker stocks, only Yamaha was pushed onto the back foot.
| Currency: yen | Price | Week | Month |
| Honda | 3267 | +0.3% | -2% |
| Yamaha | 3285 | -0.9% | -5.2% |
| Suzuki | 4727 | +1.4% | -8.8% |
| Kawasaki | 3235 | +7.7% | +13.1% |
INDIA — GIMME SHELTER
Indian investors certainly weren’t immune from international economic angst and Mumbai’s BSE Sensex 30 market index fell for a second consecutive week, this time losing 1.4%. Out of India’s five motorcycling majors, only TVS managed to hold very marginal positivity.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 2724.85 | -1% | +2.1% |
| Bajaj Auto | 3549.60 | -1.9% | -4.8% |
| TVS Motor | 1039.85 | +0.2% | -6.1% |
| Eicher Motors | 3291.45 | -2% | -6.5% |
| Mahindra | 1251.60 | -1.1% | -2.8% |
CHINA — OUT OF CONTROL
Post-pandemic euphoria lasted for precisely one week, before Chinese investors copped the harsh reality of relaxing Covid restrictions without first putting in place mass vaccination and other prophylactic containment measures. As infection rates surged, hospitals and pharmacies were overwhelmed, and market indices turned abruptly negative.
Shanghai’s SSE Composite dropped by 1.2% and the blue-chip CSI 300 closed 1.1% down. Among China’s eleven listed motorcycle manufacturers, only Loncin and CFMoto were able to avoid losses.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 18.89 | -5.3% | -5% |
| Zongshen | 6.17 | -2.8% | -4% |
| Sundiro | 2.34 | -4.5% | -4.9% |
| CETC (Jialing) | 14.73 | -4.3% | +3% |
| Lifan | 4.10 | -2.8% | -9.1% |
| Loncin | 5.04 | +0.2% | -13.8% |
| Linhai | 9.98 | -4.6% | +7.9% |
| Guangzhou Auto | 11.89 | -1.7% | -1.4% |
| CFMoto | 117.91 | -1.1% | -15.2% |
| Xinri E-Vehicle | 18.76 | -3.9% | -11.9% |
| Currency:Â HK dollar | Price | Week | Month |
| Jianshe | 5.04 | -0.4% | -1% |