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Auto and Transport Industry News
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OPmobility is cutting 770 jobs but buying a lighting business. Where is automotive capital moving?
OPmobility SE is preparing to reduce around 770 positions across Germany and France as weaker European automotive production, delayed hydrogen investment and changing powertrain demand force another industrial adjustment. The restructuring comes with up to €130 million of charges and lower 2026 operating-margin expectations, making the workforce action part of a broader reset rather than a standalone cost programme.
IRCON wins Rs 862cr railway contract as Q1 profit falls 44% despite revenue growth
Ircon International Limited has secured a ₹862.46 crore railway infrastructure contract from East Central Railway, strengthening its order pipeline while weaker margins and rising finance costs remain concerns for investors.
Airbus has 9,222 aircraft in backlog. Why is it adding ASML and Michelin expertise to the board?
Airbus SE has installed Amparo Moraleda as Chair of its board while ASML Chief Executive Officer Christophe Fouquet joins as a director and Michelin Chief Executive Officer Florent Menegaux is lined up for a 2027 board seat. The governance reset brings additional technology and industrial operating experience to Airbus while the aerospace group tackles a 9,222-aircraft commercial backlog, ambitious production ramps and demanding free-cash-flow targets.
Verra Mobility (Nasdaq: VRRM) hires Yunex Traffic veteran Jon Newhard as CEO
Verra Mobility Corporation has appointed former Yunex Traffic Chief Executive Officer Jon Newhard as its permanent leader from November 1, ending a five-month interim period after David Roberts' departure. Newhard inherits growing revenue and extended contracts with Avis Budget Group and Hertz, but also weaker contract economics, nearly $1 billion of net debt and a share price close to its 52-week low.
airBaltic has 3,000 employees and plans a smaller fleet. Could nearly one in four roles be affected?
airBaltic says between 500 and 700 positions could be affected as the Latvian carrier aligns staffing with a smaller fleet and a new business plan during its Chapter 11 financial reorganisation. The proposed changes span Riga, Vilnius and Tallinn and could touch pilots, cabin crew and other functions, although individual decisions have not yet been finalised. The workforce process demonstrates how quickly airline financial restructuring can move from balance sheets and aircraft leases into employee numbers.
Standard Motor Products is changing CFOs on earnings day. Why James Burke’s return matters
Standard Motor Products, Inc. will lose Chief Financial Officer Nathan R. Iles on October 30, the same date it is scheduled to report third-quarter results, with former Chief Financial Officer James J. Burke returning on an interim basis while the company searches for a permanent successor.
Tata Motors added €0.30 to its Iveco bid, but the bigger change happened outside the deal
Tata Motors has increased its cash tender offer for Iveco after authorisations took longer than expected, while Iveco's defence business has already moved to Leonardo and now sits outside the transaction.
Tata Motors raises Iveco takeover offer to €14.40 as €3.91bn deal nears decisive vote
Tata Motors has lifted its recommended cash offer for Iveco Group to €14.40 per share, adding roughly €81 million to the transaction as the Indian truckmaker pushes its largest overseas commercial vehicle acquisition toward completion.
Delta Air Lines cuts 2026 EPS outlook despite record $17.6bn September-quarter revenue
Delta Air Lines produced record adjusted September-quarter revenue but cut full-year earnings and free-cash-flow guidance as adjusted fuel expense increased 62%.
Ford Q3 US sales fall 6.6% as Maverick Hybrid jumps 59.6%
Ford's headline US sales decline was heavily influenced by planned model exits, while hybrid pickups, large SUVs, F-Series production and paid software subscriptions delivered stronger signals underneath the total.