Cost per Mile/Kilometer/Hour

The cost per "meter unit" metric is an easy way to determine the cost of operating a vehicle. It represents the cost it takes to drive a vehicle one mile or kilometer, or operate a piece of equipment for one hour (if tracking usage in hours).

How cost per mile/kilometer/hour is calculated

The cost per meter metric includes the total service and fuel costs for a particular vehicle. The accumulated expenses are combined and divided by the total meter difference logged in Fleetio over the life of the vehicle.

Important note:

Fleetio will use the first meter entry ( from either a Purchase Odometer, Service Entry, Fuel Entry, or Odometer Update) for a Vehicle as the starting point in the elapsed meter interval.

If your first entry is 0, that will be the initial meter value for this calculation. Also, if you backdating records and have incomplete information, it could cause the cost/meter number to be inaccurate.

Algorithm: (Total Service Cost + Total Fuel Cost)/(Current Odometer Reading-First Odometer Reading)

The Cost/Meter value is featured in the Stats section of each Vehicle Page (see above) as well as the Vehicles Report and the Vehicle Details Report.

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