This study examined the potential significance of requiring industry consolidation and fleet management in the successful implementation of the PUV Modernization Program by the Department of Transportation (DOTr) by presenting a case study of 1-Transport Equipment Aggregator and Management Inc. (1-TEAM), a fleet management company. Surveys and key informant interviews were conducted to carry out the study. Results revealed that industry consolidation and fleet management are both significant components of the DOTr PUV Modernization Program. Moreover, the financial viability of modernizing the current jeepneys would greatly depend on efficient management and operations of the brand new PUJs. Non-financial incentives and regulatory backstops may also help the government convince jeepney operators to participate in the modernization program.