CVO Barometer 2009 for India launched

The Corporate Vehicle Observatory (CVO) is an international platform of experts founded by Arval in 2003, which analyses the trends in the management of professional vehicles, i.e. Fleet cars. The publications and public forums of this independent body target all functions involved in the management of fleets. The CVO yesterday released the second edition of the results of its research, called 'CVO India Report 2009', which it conducted within the country. The research into the corporate vehicle market in India was undertaken by the international research company TNS, which spoke to over 3000 respondents covering a wide area of topics that the industry will need to address.

The study undertaken for the CVO was split into four key areas which included Car Fleet characteristics and future in India, Financing methods, Environmental issues and Impact of current financial crisis. The research found that unlike the growth of corporate fleets in Europe and the United States, which was deeply affected by the current economic crisis, Indian business once again showed an impressive willingness to develop their fleets. The research also looked into the on-going changes in the fleet administration methodologies in the country and found that even if they were not driven by the sole necessity of cutting costs, they do reflect a search for more rational management tools. Other findings included the clear disparity between India and Europe in how company vehicles are part of the employees CTC (cost-to-company) and the change in the methods used by companies to acquire corporate vehicles. The research also reflected the change in the corporate attitude towards their commitment to reduce their fleet's impact on the environment.

Stay tuned to ZigWheels as we'll bring you a detailed report of the findings of the Corporate Vehicle Observatory later on.