A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 23 February 2024. BDN financial editor Roger Willis reports.
USA — CHIPS WITH EVERYTHING
Over-excited equities trading in New York pivoted around the prospects of microchip giant Nvidia, a member of the “magnificent seven” tech superstars that dominate blue-chip S&P listings. Nvidia’s annual results eventually generated a share price surge that briefly made it into only the fourth US-listed company to reach a market valuation of two trillion dollars (after Apple, Microsoft and Google parent Alphabet).
But that temporary peak disguised some pretty erratic indices swervery through the week. The S&P 500 finished with a fairly modest 1.7% weekly gain and others were weaker. NASDAQ’s tech-heavy Composite was 1.4% up and the Dow Jones Industrial Average put on 1.3%. S&P’s MidCap 400 managed only a 1.1% advance. And the most prominent MidCap powersports listing slipped into losses. Harley-Davidson dropped by 2.9% on its primary quote and its electric motorcycle spin-off LiveWire closed 10.7% down.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 36.75 | -2.9% | +10.4% |
| Polaris Industries | 92.57 | +0.6% | +1.3% |
| Textron | 85.97 | +0.3% | +1.3% |
| Ideanomics (Energica) | 1.00 | -4.8% | -3.8% |
| Niu Technologies | 1.71 | -11.4% | -11.4% |
| LiveWire | 9.42 | -10.7% | -17% |
EUROPE — BUSINESS CLIMATE IMPROVES
European stocks got a boost from Ifo Institute data showing German business confidence has improved, on a brighter outlook for the next six months. Ifo’s index was based on a survey of 9000 companies, and in line with the forecasts of economists polled by Reuters. Major market indices reflected this mood swing. Frankfurt’s Dax Xetra rose by 1.8% and the FTSE MIB in Milan piled on a more muscular 3.1%. Both Teutonic automotives with biker sidelines beat the Dax average, although Piaggio lagged behind the MIB. In Austria, where the Wiener Börse ATX was negative by 0.6%, KTM parent Pierer Mobility continued to lose value after its annual results hammering.
| Currency: euro | Price | Week | Month |
| BMW | 106.72 | +2.8% | +12.6% |
| Volkswagen | 141.35 | +4.2% | +10.7% |
| Pierer Mobility | 47.80 | -2.4% | -4.8% |
| Piaggio Group | 3.18 | +0.6% | +2.3% |
JAPAN — RISING SUN RISES AGAIN
Tokyo and Osaka’s Nikkei 225 index continued its ascendancy, closing above a new 39,000-point record with a 1.6% weekly advance. But among motorcycle-related listings, only Honda and Kawasaki remained well and truly on the gravy train. That was honestly earned by Honda’s biker activities, while other KHI divisions are obviously carrying Team Green’s currently lame powersports effort.
| Currency: yen | Price | Week | Month |
| Honda | 1799.5 | +2.7% | +13.6% |
| Yamaha | 1383 | +0.3% | -0.4% |
| Suzuki | 6640 | -1.1% | +5.4% |
| Kawasaki | 3943 | +4.1% | +20.2% |
INDIA — A TASTE FOR EXPORTING
Mumbai’s S&P BSE Sensex 30 and NSE Nifty 50 market indices were slightly out of step, the former boasting a 1% gain while the latter closed 0.8% up. Among indigenous motorcycle manufacturers, only leading exporters Bajaj Auto and Mahindra appeared attractive to investors.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 4519.25 | -7.7% | +1.7% |
| Bajaj Auto | 8436.95 | +1.3% | +11% |
| TVS Motor | 2115.95 | -1.1% | +9% |
| Eicher Motors | 3927.05 | -0.1% | +8.6% |
| Mahindra | 1929.95 | +5.1% | +18% |
CHINA — GAMING THE MARKETS
Chinese Lunar New Year celebrations were swiftly followed by a frantic burst of financial intervention activity from the government in Beijing. To invigorate struggling equities with a flood of fresh capital, covert State-funded stock purchases are running rampant.
Rejuvenated market indices highlighted the scale involved. Shanghai’s all-share SSE Composite climbed by a weekly 4.8% and the blue-chip CSI 300 finished 3.7% up. Shares in nine out of the ten listed Chinese motorcycle producers accrued value.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 11.35 | +4.5% | +0.9% |
| Zongshen | 5.62 | +1.4% | -7% |
| Sundiro | 2.35 | +15.8% | -23.9% |
| CETC (Jialing) | 12.04 | +4% | +0.3% |
| Lifan | 3.16 | +2.6% | -3.7% |
| Loncin | 4.95 | +8.3% | -0.8% |
| Linhai | 7.74 | +17.8% | -20.5% |
| Guangzhou Auto | 8.71 | +0.9% | +2.8% |
| CFMoto | 94.90 | -2.4% | +0.3% |
| Xinri E-Vehicle | 9.72 | +18.4% | -13.6% |