arXiv:2506.06301v1 Announce Type: new Abstract: Roadway safety and mobility remain critical challenges for modern transportation systems, demanding innovative analytical frameworks capable of addressing complex, dynamic, and heterogeneous environments. While traditional engineering methods have made progress, the complexity and dynamism of real-world traffic necessitate more advanced analytical frameworks. Large Language Models (LLMs), with their unprecedented capabilities in natural language understanding, knowledge integration, and reasoning, represent a promising paradigm shift. This paper comprehensively reviews the application and customization of LLMs for enhancing roadway safety and mobility. A key focus is how LLMs are adapted -- via architectural, training, prompting, and multimodal strategies -- to bridge the "modality gap" with transportation's unique spatio-temporal and physical data. The review systematically analyzes diverse LLM applications in mobility (e.g., traffic flow prediction, signal control) and safety (e.g., crash analysis, driver behavior assessment,). Enabling technologies such as V2X integration, domain-specific foundation models, explainability frameworks, and edge computing are also examined. Despite significant potential, challenges persist regarding inherent LLM limitations (hallucinations, reasoning deficits), data governance (privacy, bias), deployment complexities (sim-to-real, latency), and rigorous safety assurance. Promising future research directions are highlighted, including advanced multimodal fusion, enhanced spatio-temporal reasoning, human-AI collaboration, continuous learning, and the development of efficient, verifiable systems. This review provides a structured roadmap of current capabilities, limitations, and opportunities, underscoring LLMs' transformative potential while emphasizing the need for responsible innovation to realize safer, more intelligent transportation systems.