A snapshot of motorcycle and ATV industry share performance across key manufacturers and major global markets at the trading week closure on Friday 4 July 2025. BDN financial editor Roger Willis reports.
USA — ANOTHER WAVE OF TORRID TARIFFS
As the weekend approached, President Trump confirmed in an overnight press briefing that he expected to send letters notifying trading partners of new tariff rates in time for his 9 July deadline, reviving previously punitive moves. According to Trump, the new rates would “range in value from maybe 60-70% to 10-20% tariffs”. He also implied that Washington could unilaterally apply tariff rates on some countries without negotiation.
Lacking analysis by investors of impact outcomes on Wall Street, US market indices remained remarkably restrained. The S&P 500 and Dow Jones Industrial Average respectively closed 1.7% and 2.3% higher and NASDAQ’s Composite added only 1.6%. However, there was clear evidence of speculators buying into recent dips in a 2.8% surge for S&P’s MidCap 400. Among biker stocks, both Harley-Davidson and Polaris Industries were obvious beneficiaries of this trend.
| Currency: dollar | Price | Week | Month |
| Harley-Davidson | 25.53 | +8% | +4% |
| Polaris Industries | 46.44 | +13.4% | +13.1% |
| Niu Technologies | 3.36 | -1.2% | -2.6% |
| LiveWire | 4.46 | +3.9% | -24.9% |
EUROPE — BELLIGERENT TIT FOR TAT
The European Commission is still maintaining a brazen challenge to Trump’s impending tariff assault, which now includes a threatened 17% rate on agricultural exports to the US — inclusive of wine and worth about €48bn. The Germans are pressing the Commission for exemptions from Trump’s sectoral tariffs on 25% on vehicles and 50% on steel. EU member states have already approved counter-tariffs on €21bn of annual US exports to Europe. And the Commission is assembling a package of a further €95bn spanning aircraft and food. The stated EU position has been clear from the outset. “We favour a negotiated solution with the US, and this remains our priority,” says EC President Ursula von der Leyen. “But at the same time, we are preparing for the possibility that no satisfactory agreement is reached.”
Certainly, eurozone market indices suggest investors have begun to run for cover. In the past week, Frankfurt’s Xetra Dax fell by 1.1%. The FTSE MIB in Milan finished 0.3% down and the Wiener Börse ATX in Austria copped a 0.8% loss.
| Currency: euro | Price | Week | Month |
| BMW | 77.84 | +1.3% | +1.5% |
| Volkswagen | 92.40 | -1.3% | -0.9% |
| Pierer Mobility | 17.64 | +7.6% | -0.3% |
| Piaggio Group | 1.96 | +3.1% | +10.7% |
JAPAN — FEAR FACTOR GROWS
As President Trump’s 9 July tariff deadline drew closer, US-Japanese trade talks hit the buffers over an excessive quantity of car exports to the US and Japan’s reluctance to import a much bigger volume of US-grown rice. Trump described Japan as “spoiled” and has suggested that there may be no US trade deal on the table whatsoever. In response, Tokyo and Osaka’s Nikkei 225 market index turned negative by 0.8%.
| Currency: yen | Price | Week | Month |
| Honda | 1443 | +1.5% | +2.9% |
| Yamaha | 1083.5 | +0.8% | +0.5% |
| Suzuki | 1657 | -5.4% | -1.4% |
| Kawasaki | 10110 | -9.9% | -5.7% |
INDIA — GRIM MOOD
India’s inability to negotiate a deal that will keep Donald Trump happy became increasingly obvious as his 9 July deadline grew closer. Mumbai’s BSE Sensex 30 and NSE Nifty 50 market indices closed in unison on 0.7% losses. Motorcycle manufacturer share prices attracted red ink, with only Hero MotoCorp staying marginally positive.
| Currency: rupee | Price | Week | Month |
| Hero MotoCorp | 4345.00 | +0.6% | +1.8% |
| Bajaj Auto | 8433.00 | -0.1% | -2.4% |
| TVS Motor | 2880.10 | -2% | +4.8% |
| Eicher Motors | 5629.00 | -0.5% | +4.4% |
| Mahindra | 3162.50 | -1.3% | +1.8% |
CHINA — INSCRUTABLE SMILES
As trade warfare between the US and China was relegated to the back burner, Chinese stock trading activity blossomed and key market indices rose. Shanghai’s all-share SSE Composite finished 1.4% up and the blue-chip CSI 300 put on 1.5%. Among the ten listed Chinese motorcycle producers, eight added value. Only Honda JV affiliate Sundiro and the recently remonikered Qianli Technology (formerly Lifan) were behind the curve. Qianjiang, which has just begun to export a range of its products into the UK market, made the second-largest gain.
| Currency: yuan | Price | Week | Month |
| Qianjiang | 16.25 | +8.9% | +2.8% |
| Zongshen | 22.93 | +3.8% | +3.9% |
| Sundiro | 4.43 | -1.6% | -2.2% |
| CETC (Jialing) | 12.32 | +0.5% | +0.6% |
| Qianli (Lifan) | 8.32 | -1.8% | -0.8% |
| Loncin | 13.37 | +5.9% | -6% |
| Linhai | 10.80 | +0.6% | +2.6% |
| Guangzhou Auto Group | 7.52 | +0.5% | -1.8% |
| CFMoto | 237.97 | +11.6% | +21.3% |
| Xinri E-Vehicle | 12.45 | +1.4% | +7.6% |