Auto stocks performance: Yamaha and Tesla crash

by SR on May 21, 2012

No auto stocks perform well, but Yamaha and Tesla slump

Global OEM share price performance year-to-date in 2012 (native currency base)

I have updated the share price performance figures for the 30 or so auto OEM stocks that I track. The charts show relative performance over the past year; since the Japanese market bottomed in November 2011 (I’m still a Japan market guy); year-to-date since the beginning of calendar 2012; over the past three months; since the start of the current month.

To remind you, these charts exist to allow us a clearer view on global auto OEM and auto parts stocks might be heading, and it’s hard to do that without a view on where they’ve already been.

Last week was pretty poor. No stocks rose apart from Hero Motor, which edged up 1.5%. All the other major OEMs fell during the week. Most notable was motorcycle and engine specialist Yamaha Motor, which fell 16.2% after disappointing results on 14 May. Tesla’s share price declined 14.5% over the week, while BYD also impressed with a fall of 12.8%.

But this is short term stuff. Taking a slightly longer-term view, year-to-date, the leaders are Geely (+49.4%) and Tata (+45.8%) with a large gap to Great Wall (+27.9%). The losers are the very consistent Peugeot (-32.7%), Mazda (-22.8%) and the aforementioned Yamaha (-21.1%).

My over-arching view on the sector remains the same: Toyota and Honda are likely to have a very strong year and auto parts suppliers such as Denso and Aisin Seiki will benefit.

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