Guidance Document Information
||Guidance Document for Total Cost of Ownership (TCO)
||Chapter 789 of the 2022 Acts of Assembly requires that, with certain exceptions, all agencies of the Commonwealth use a total cost of ownership (TCO) calculator prior to purchasing or leasing a light-duty vehicle beginning January 1, 2023. The required TCO calculator is located on the DGS/Office of Fleet Management Services’ (OFMS) website (https://dgs.virginia.gov/fleet/) under the Resources tab. For the purpose of this requirement, a light-duty vehicle is defined as a vehicle with a curb weight of less than 14,000 pounds.
The TCO calculator compares the total cost to purchase, own, lease, and operate a light-duty internal combustion-engine (ICE) vehicle versus a comparable electric vehicle (EV). Agencies are required to purchase the less expensive of the two vehicles unless they are granted an exemption from DGS.
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Posted On 10/11/2022
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|Explanation or Citations
||Chapter 789 of the 2022 Acts of Assembly
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