This paper proposes an uncertainty analysis to evaluate the suitability of a calibration method based on a rotary encoder mounted on the vehicle wheel to calibrate on board vehicle speed measurement instruments. Considering all the measurement uncertainty contributions, a sensitive analysis has been made to highlight the limits and/or the suitability of this calibration methodology with speed up to 300 km/h. The proposed analysis can be also used as a design tool to make the choices in the definitions of the methodologies and specifications of the instruments to be used in the calibration measurement system to achieve the desired compromise between calibration costs and compliance with technical requirements.