No. That last number is the diameter of the rim. The Element has a 16" rim, the Geo Tracker has a 15" rim.
Since I don't have the rest memorized here's a link to a web site that probably explains it all better than I could: http://www.autotropolis.com/wiki/index.php?title=Tire_Sizes_Explained
Since I don't have the rest memorized here's a link to a web site that probably explains it all better than I could: http://www.autotropolis.com/wiki/index.php?title=Tire_Sizes_Explained