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The Cost per Meter is an easy way to determine the overall cost of operating a vehicle in your fleet. Meter measurement units can be Miles, Kilometers, or Hours. The Cost Per Meter value represents the cost of driving a Vehicle one Mile or one Kilometer, or the cost of operating a Tool for one Hour.
When viewing a vehicle in Fleetio, the Cost per Meter can be found in the Overview tab on the Cost of Ownership card. You can also find this information in the Vehicles Report and the Vehicle Details Report.
Cost per Meter Calculation
The Cost per Meter includes Service Costs, Fuel Costs, and Other Costs. The sum of costs is divided by the total usage logged in Fleetio for the life of the Vehicle. You can find more information on costs in the Expenses Overview article.
IMPORTANT: Fleetio will use the first Meter Entry for a Vehicle as the starting point in the elapsed meter interval. This value may come from a new Vehicle's Purchase Odometer, a Service Entry, a Fuel Entry, or the first Odometer Update. If the first value is 0, that will be the initial meter value for the Cost per Meter calculation.
Cost per Meter Algorithm: (Total Service Cost + Total Fuel Cost + Total Other Costs) / (Current Odometer Reading - First Odometer Reading)
