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Gasoline models accounted for less than half of global new-vehicle sales in the first half of 2026, Nikkei reported, as higher oil prices sharpened the appeal of electric vehicles.
Kering outlined an ambitious plan to revive Gucci and double profits, aiming to restore growth after a prolonged slowdown in its flagship brand.
Luxury stocks declined sharply after weak earnings from Hermès and Kering, as the Iran war weighed on Middle East demand and tourism.
Louis Vuitton shares fall nearly 30%, marking the worst drop since 1989 as Middle East demand weakens.