This study presents the NVH characteristics of a passenger vehicle with a three-cylinder engine and a Continuously Variable Transmission (CVT) and an optimization procedure to achieve balance between fuel economy and NVH. The goal of this study is to improve fuel economy by extending the lock-up area of the damper clutch at low vehicle speed and to minimize booming noise and body vibration caused by the direct connection of the engine and transmission. Resonance characteristics of the chassis systems and driveline have been studied and optimized by the experiment. NVH behavior of the vehicle body structure is investigated and modifications for refinement of booming and body vibration are proposed by simulation using MSC NASTRAN. Calibration parameters for CVT control are optimized for fuel economy and NVH. As a result, the lock-up clutch area has been extended by 300RPM and the fuel economy has been improved by about 1%, while the NVH characteristics of the vehicle satisfy the targets.