June 7, 2007 – PHH Arval, a subsidiary of PHH Corporation [NYSE: PHH], recently conducted a survey of public and private sector fleet managers designed to gauge awareness of environmental issues and barriers to implement solutions. The survey, available in more detail at www.phharval.com/greensurvey, yielded the following conclusions: - Corporate interest in environment is growing.
Asked to rate how their organizations’ interest in the environment has changed over the past year, 45% of respondents said it had grown significantly. In addition, there was significantly more interest from senior management in the impact the organization’s fleet of cars and trucks has on the environment – 77% of respondents indicated they had been asked about the environmental impact of their fleets in the past year.
- Most of the respondents have already explored opportunities to green their fleets.
Techniques for improving environmental performance included right-sizing, hybrids, flex-fuel vehicles, driver training, preventive maintenance, and greenhouse gas offsets. Greenhouse gas offsets were the least explored option among those surveyed. A higher percentage of government fleet managers explored opportunities in every category as compared to their private sector counterparts.
- Barriers still exist for improving the environmental performance of the fleet.
According to the survey, 59% of public sector and 56% of private sector managers considered cost the biggest barrier. In addition, 89% of corporate fleet managers and 79% of government fleet managers who looked at hybrids cited costs and availability of appropriate vehicles as barriers. Driver attitudes were more of an issue for government fleets (35% vs. 18%), and lack of executive interest was more of an issue in the private sector (20% vs. 12%).
- More tools needed to help with environmental analysis.
The survey revealed that large numbers of managers felt they did not have the appropriate tools to select environmentally-friendly vehicles, influence driver behavior, and measure changes in environmental performance.
Karen Healey, PHH Arval director in charge of the company’s green initiatives, commented, “It’s exciting to see the growing interest in improving the environmental performance of the fleet. Companies are still struggling to analyze options, measure results, and improve performance without raising costs. The PHH GreenFleet program, developed in partnership with Environmental Defense, addresses these issues by helping organizations measure, manage, and reduce the environmental impact of their fleets.”
About PHH Arval
PHH Arval is a leading fleet management services provider in the United States and Canada. PHH Arval provides outsourced fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies, and government agencies. Through consultative expertise, flexible customer service, and award-winning Internet technology, PHH Arval helps clients reduce costs and increase productivity. For more information, visit www.phharval.com, or call 800-ONLY-PHH. About PHH Corporation
Headquartered in Mount Laurel, New Jersey, PHH Corporation is a leading outsource provider of mortgage and vehicle fleet management services. Its subsidiary PHH Mortgage is one of the top ten retail originators of residential mortgages in the United States(1). Its subsidiary, PHH Arval, is a leading fleet management services provider in the United States and Canada. For additional information on the company and its subsidiaries please visit www.phh.com. (1) Inside Mortgage Finance, Copyright 2006
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