Register / Sign in

Share prices

16/04/2018

A snapshot of global bike and ATV industry share performance at the trading week closure on Friday 13 April 2018. BDN financial editor Roger Willis reports.

A week ending on such an unlucky date for superstitious people should have been risk-averse. But on global stock markets the opposite was true. Part of the reason was simply fatigue. Investors breathed a brief sigh of relief as President Trump’s trade warfare against all and sundry was temporarily put on hold while he instead revived the Cold War and dallied with chances of starting a Third World War.

Exchange indices finished generally in concert with modest weekly gains, although many suffered a rocky start and then signs of a sell-off on Friday as US, UK and French missiles began to modify the Syrian landscape. Americans, who generally feel comfortable with itchy trigger fingers, were the most optimistic.

New York’s S&P 500 closed 1.5% up, with the Dow Jones Industrial Average slightly adrift on a 1.3% rise. Harley-Davidson was an under-performer, dropping by more than a dollar on Monday, adding a couple of bucks midweek and then retreating to end precisely one cent above dead flat. Polaris, meanwhile, beat the odds with a 3% improvement. Textron was more in tune with overall sentiment, higher by 1.1%.

In Europe, the pan-eurozone Eurofirst 300 index led the way on a 1.2% hike. Frankfurt’s DAX Xtra and Milan’s MIB were both 1.1% up. German automotive stocks bounced back from stagnation during the previous week. BMW rose by a sound 2.9% but Volkswagen did much better, stacking on 5.5%. Investors were clearly impressed by the appointment of aggressive new-broom chief executive Herbert Diess, abruptly replacing Matthias Müller.

Nicknamed “Kostenkiller” after a former role as BMW’s board member responsible for group supply chains, when he famously screwed more than £3bn in annual savings out of suppliers, Diess joined Volkswagen in 2015. His elevation to the top job will make VW subsidiary Ducati especially nervous, because Diess is deeply familiar with ensuring a bike business pays its way, having been BMW Motorrad supremo from 2003 to 2007.

Elsewhere, European motorcycle-specific shares lacked cohesive direction. KTM suffered a second week of losses on the Wiener Börse, this time 1.7% down. In Italy, Energica also continued to slide, a further 0.9% in arrears, but Piaggio recovered by 2.3%.

In Japan, Tokyo’s Nikkei 225 index was lifted by 1.1%, as immediate fears of additional tariff entanglement momentarily receded and indigenous motorcycle manufacturers mainly outpaced that marker. Yamaha led the pack, 4% up, closely chased by Kawasaki on 3.6%. Honda increased by 2.5%. Only Suzuki didn’t reach the average, adding just 0.9%.

Among big emerging countries, India was a little less confident of its advantages from the tit-for-tat trade conflict between the US and China but the BSE Sensex nevertheless rose by 1.2%. Bike producers, predominantly concerned with domestic success, were cut loose from those worries to plough their own furrows. The perennially popular stocks of Eicher and TVS did very well, respectively flaunting 5.2% and 2.5% gains. And Mahindra collected a solid 1.6% rise. But Bajaj was flat and market leader Hero sank by 1.4%. Scooter manufacturers LML and Maharashtra were also on the back foot, posting respective 6.6% and 3.9% declines.

As for China, general sentiment now seems to be that out-bluffing the Yanks may work and some confidence has returned. Shanghai’s SSE Composite index therefore climbed by 1.1%. However, bike stock fanciers weren’t completely at ease. Only Qianjiang, Lifan and Jianshe made advances. All the rest lost ground.      

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

USA (US dollar)

Harley-Davidson    P 42.20  C +0.14%  R 60.87 - 41.33  Y -29.31%
Polaris    P 122.90  C -0.96%  R 137.66 - 77.91  Y +55.92%
Textron    P 58.52  C -0.9%  R 62.19 - 45.00  Y +25.74%
US Highland    P 0.0009  C N/A  R 0.0091 - 0.0003  Y N/A
Curtiss    P 0.40  C N/A  R 0.80 - 0.061  Y N/A

Notes: Polaris makes Indian bikes, ATVs, snowmobiles, quadricycles and EVs. Textron produces own-brand ATVs. US Highland makes off-road bikes. Curtiss Motorcycles, formerly Confederate Motors, makes limited-edition cruisers.

CANADA (Canadian dollar)

BRP    P 52.05  C -0.25%  R 53.24 - 31.14  Y +60.15%

Notes: Bombardier Recreational Products makes Can-Am ATVs and Spyder road trikes, Ski-Doo snowmobiles, Sea-Doo PWC and Rotax proprietary engines.

TAIWAN (Taiwanese dollar)

Sanyang    P 21.65  C -1.59%  R 23.65 - 20.00  Y +6.58%

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

VIETNAM (Hong Kong dollar)

VMEPH    0.42  C N/A  R 0.50 - 0.40  Y -12.5%

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

INDONESIA (rupiah)

Astra    P 7525  C -2.59%  R 9350 - 7050  Y -9.74%
Indomobil    P 1400  C +4.09%  R 1605 - 815  Y +22.27%

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 91.08  C +1.38%  R 97.50 - 77.07  Y +14.61%
VW    P 173.20  C -0.35%  R 190.70 - 128.09  Y +28.58%
KTM    P 5.80  C -0.34%  R 7.00 - 4.66  Y +10.5%
Piaggio    P 2.23  C N/A  R 2.86 - 1.77  Y +26.35%
Energica    P 3.17  C +0.32%  R 3.50 - 2.91  Y -5.37%

Notes:  Volkswagen Group owns Ducati. Energica Motor is an Italian manufacturer of electric superbikes

PAKISTAN (Pakistani rupee)

Atlas Honda    P 578.00  C -0.16%  R 657.72 - 470.00  Y +5.09%
Pak Suzuki    P 500.00  C +0.39%  R 936.42 - 431.10  Y -24.81%

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

INDIA (rupee)

Hero    P 3725.90  C -0.63%  R 4091.95 - 3179.00  Y +15.86%
Bajaj    P 2786.40  C +0.83%  R 3468.35 - 2694.50  Y -1.93%
TVS    P 661.80  C +3.19%  R 794.45 - 467.00  Y +38.78%  
Eicher    P 31,353.00  C +2.91%  R 33,483.95 - 25,321.10  Y +20.13%
Mahindra    P 789.60  C +0.22%  R 802.80 - 612.00  Y +22.24%
LML    P 6.35  C N/A  R 13.77 - 5.70  Y -50.2%
Maharashtra    P 2399.95  C -1.29%  R 3450.00 - 1843.45  Y +22.45%
Scooters India    P 61.90  C +4.85%  R 79.70 - 37.05  Y +51.16%

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, a majority stake in French scooter brand Peugeot and owns formerly British BSA brand rights. LML is a former Piaggio JV partner making Vespa-derived retro scooters. Maharashtra Scooters assembles CKD scooter kits manufactured by Bajaj. Scooters India makes Vikram three-wheeled taxis and light trucks.

JAPAN (yen)

Honda    P 3773  C +1.02%  R 4151 - 3000  Y +23.78%
Yamaha    P 3375  C +2.74%  R 3935 - 2422  Y +38.94%
Suzuki    P 5912  C +0.63%  R 6811 - 4355  Y +33.57%
Kawasaki    P 3420  C +3.64%  R 4620 - 3130  Y +7.69%

CHINA (yuan)

Qianjiang    P 17.22  C +3.61%  R 23.99 - 14.14  Y -3.68%
Zongshen    P 5.95  C -3.25%  R 8.98 - 5.09  Y -33.25%   
Sundiro    P 5.16  C -1.9%  R 8.47 - 4.36  Y -32.63%
Jialing    P 6.43  C N/A  R 8.38 - 5.33  Y N/A [Trading halted]
Lifan    P 6.17  C -2.06%  R 9.44 - 5.70  Y -29.05%
Loncin    P 6.33  C -1.25%  R 8.62 - 6.03  Y -23.42%
Linhai    P 8.56  C -1.72%  R 15.85 - 6.90  Y -41.98%
GAG    P 20.05  C -0.05%  R 30.01 - 19.97  Y -19.78%
CFMoto    P 26.16  C -1.76%  R 50.92 - 19.63  Y N/A

CHINA (Hong Kong dollar)

Jianshe    P 8.26  C +1.35%  R 12.18 - 7.60  Y -31.17%

Notes: Qianjiang owns Keeway and 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. CFMoto makes bikes and ATVs, exporting to the UK under the WK Bikes brand.

MALAYSIA (ringgit)

Oriental Holdings    P 6.27  C -0.16%  R 6.83 - 6.06  Y -2.05%
Hong Leong    P 10.98  C +0.37%  R 11.58 - 9.08  Y +20.82%

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

SOUTH KOREA (won)

KR    P 613  C +0.16%  R 1672.50 - 475.50  Y -46.16%
Daelim    P 80,200  C +0.25%  R 94,600 - 70,000  Y +0.99%

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.)