The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0359 GMT - Weak on-year earnings growth in Thai airlines are expected to persist until 1Q 2026 on higher maintenance and employee costs, Maybank Securities (Thailand) analyst Boonyakorn Amornsank writes in a report. Thailand's international inbound passengers is expected to remain weak in 4Q as growing demand of long-haul travelers are unlikely to offset the ongoing slowdown of short-haul inbound passengers. China remained the top market for inbound air passenger arrivals in Thailand. "However, there's significantly less enthusiasm for China's outbound flights to Thailand, as persistent public safety concerns keep travelers wary," the analyst says. Maybank maintains a neutral view on Thailand's aviation sector.(amanda.lee@wsj.com)

1434 GMT - Uber's business model will likely face significant disruption from the rise of autonomous vehicles, say Wedbush analysts, who add that about 40% of Uber's mobility bookings are most at risk to AVs. "The value of a two-sided marketplace is optimized by extreme supply fragmentation, and Uber/Lyft face a future that will likely include more supply concentration," the analysts say. Right now, the industry is fragmented, according to the analysts, but they believe AV market share will consolidate among a few top players.(nicholas.miller@wsj.com)

1413 GMT - Uber is partnering with Nvidia to develop a fleet of robotaxis, but the announcement only highlights that Uber is still behind in the autonomous vehicle race, say Wedbush analysts. The deployment of Stellantis-built vehicles that use Nvidia's autonomous driving software will likely take multiple years, while Tesla and Waymo continue to build AI infrastructure and both have public rides already available in several cities, the analysts say. Tesla may be able to roll out a full robotaxi network within the next year. Uber's partnerships also may be putting its relationship with Waymo at risk since Uber-owned fleets would displace Waymo rides on the Uber platform, the analysts say. (nicholas.miller@wsj.com)

1247 GMT - Aston Martin faces a challenging near-term outlook, with the potential for future share-price recovery dependent on how swiftly demand can bounce back and new models gain traction, eToro's Adam Vettese says. Third-quarter results highlight a continuation of recent struggles, with wholesale volumes down, revenue falling and losses widening. Demand remains subdued in key regions like North America and China, hit by tariffs, macroeconomic conditions, and specific model delays, he says. The company's gross margin has deteriorated sharply and it no longer expects positive free cash flow in the second half. "While management anticipates some sequential improvement in Q4 driven by new model deliveries, persistent macroeconomic headwinds, high inventory levels, and geopolitical uncertainties pose significant risks." Shares rise 3%. (dominic.chopping@wsj.com)

1241 GMT - UBS Group has no balance-sheet exposure to collapsed auto-parts supplier First Brands, but investors in some funds it operates suffered losses because of the company's bankruptcy, UBS CFO Todd Tuckner says. "It's important to note that the most affected funds were targeted at sophisticated investors and had clear risk disclosures. No investment guidelines were breached," Tuckner says during a call with analysts after the Swiss bank's third-quarter results. UBS informed clients and is taking steps to protect their interests and maximize recovery during the bankruptcy process, he says. Shares fall 0.8%. (adria.calatayud@wsj.com)

1217 GMT - Mercedes-Benz delivered a comfortable beat across divisions and metrics, particularly on free cash flow, which triggers the resumption of the share buyback, Jefferies analysts write. The car margin of 4.8% is toward the middle of guidance while the vans margin of 10.2% is slightly above. Better costs and mix made up for lower volumes and price and a significant currency headwind, they add. However, the 876-million-euro restructuring charge is heavier than expected. There was no major change to guidance, which should now be very manageable to meet, Jefferies says. Shares rise 5.4%. (dominic.chopping@wsj.com)

1123 GMT - Mercedes-Benz delivered a third-quarter beat across the board and resumed share buybacks, which could prompt 5% consensus upgrades to full-year adjusted EBIT, UBS analysts write. Adjusted EBIT, free cash flow and the 2 billion-euro share buyback all beat consensus, UBS says. "We think resuming share buyback was expected by consensus but the relatively high amount sends a signal of confidence." The adjusted EBIT margin in cars of 4.8% compares with guidance at the lower end of the 4%-6% range, while the tariff hit was relatively low at between 300 million and 400 million euros. Vans reached a 10.2% margin versus consensus at 9.4%, and free cash flow was solid at 1.4 billion euros. Shares rise 5.9%. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

October 30, 2025 04:20 ET (08:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.