Higher fuel prices and tire costs contributed to a marked increase in the total cost of car and truck fleets in 2017, according to the third annual Element Fleet Management (TSX: EFN) Total Cost of Ownership (TCO) Index.
The Element TCO Index is a study that looks at major cost categories affecting businesses with car and truck fleets. It’s designed to help fleet, mobility and business managers understand how the changing economy impacts annual fleet ownership costs. The Index is published annually each spring, providing metrics from the previous year.
