INTERNATIONAL SHARE PRICES

the UK finally abandoned neighbourly aspirations, I have to admit making an erroneous suggestion on the subject of a potential Brexit bonus, which it later transpired didn’t exist. This involved inclusion of the EC Directive that had created our A1, A2 and A multi-tiered motorcyclists’ licencing regime, which had been embedded into UK law, in a bonfire of legacy European red tape. Once eliminated, I floated the idea of replacement by a single highstandard riding test available to every candidate of 17 years or older – and hoped that after licence acquisition was thus simplified, we’d be selling a lot more bikes.

A better-informed colleague, familiar with the corridors of power in both Brussels and Westminster, spotted a crucial flaw in my concept immediately. The UK adheres to international and also specifically European conventions on mutual licence

recognition. Arbitrarily changing a shared test format developed with British EU member state input, back in the days when we were officially rule-takers, invites the risk of retribution. So should the UK government actually attempt a reform in the direction I had sketched out, British touring bikers could find themselves excluded from continental roads owing to suddenly invalid licences.

By the time you read this,

Britain’s already fraught relationship with the EU may have deteriorated dramatically, if the aforementioned protocol unravels. Grace periods delaying full implementation were due to terminate on 30 June. It’s quite likely Johnson and Frost will renege on commitments to enforce these. Then Brussels will counter-attack via a tariff-laden trade war. Whether the wideopen land border between Éire and Northern Ireland survives is moot.

However, the return of customs posts and barbed wire would make a few Irishmen happy, especially those in the Dublin motorcycle trade. Their perennially disloyal customers will be precluded from crossing the border without hindrance, to exploit considerably lower prices offered by Northern dealers like Crossan and Phillip McCallen. Every cloud has a silver lining for somebody. 

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Safety and security compliance — as decreed by Brussels, not Boris and his buddies at the DfT

A snapshot of share performance across key manufacturers and markets

manufacturers have now fully resumed production but are faced with weakened domestic demand. Mumbai’s BSE Sensex 30 stock index fell into marginal 0.2% negativity. All five motorcycling majors booked weekly losses. Bajaj and Royal Enfield parent Eicher got off lightly, because both reported strong export sales in May.

CHINA – INFLATED GRIEF

Rampant output price inflation from Chinese factories, driven by soaring raw materials costs and export bottlenecks, has already begun to queer the pitch. Investors clearly took note. Shanghai’s SSE Composite index closed 1.8% down and the CSI 300 covering the Shanghai and Shenzhen bourses was 2.3% down. Among eleven listed bike producers, losses extended from just four in the previous week to seven. www.britishdealernews.co.uk

Price Week Month

USA (dollar) Harley-Davidson 43.77 -7.7% -8.9% Polaris Industries 130.99 -0.1% +1.5% Textron 63.84 -6.6% -4.2%

Europe (euro) BMW 90.95 -4.0% +6.9% Volkswagen 285.00 -4.4% +4.5% Pierer Mobility 72.70 -0.8% -1.1% Piaggio Group 3.43 -1.4% +8.2% Energica Motor 2.96 -10.3% +6.1%

India (rupee) Hero MotoCorp 2891.35 -3.8% +0.3% Bajaj Auto 4167.10 -0.1% +1.0% TVS Motor 610.40 -4.1% -2.3% Eicher Motors 2707.55 -1.4% +7.3% Mahindra 781.55 -3.4% -4.6% Price Week Month

Japan (yen) Honda 3535 -1.4% +6.8% Yamaha 3245 +0.5% +4.2% Suzuki 4551 -4.4% -2.0% Kawasaki 2362 -4.2% -2.8%

China (yuan) Qianjiang 18.12 -3.9% +2.0% Zongshen 7.51 -3.6% +10.6% Sundiro 2.14 -4.5% +2.9% CETC Energy 15.66 +1.8% -1.8% Lifan 5.24 -0.8% -7.1% Loncin 3.75 +5.6% +7.4% Linhai 6.36 -1.7% +1.0% Guangzhou Auto 12.05 +0.2% -1.8% CFMoto 138.71 -3.3% +1.3% Xinri E-Vehicle 30.33 +2.8% +36.4%