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Vehicle Rental Activities | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
Vehicle Rental Activities | Vehicle Rental Activities The components of vehicles, net within assets under vehicle programs are as follows:
| As of |  | As of
| September 30, |  | December 31,
| 2024 |  | 2023
Rental vehicles | $ | 23,633 |  |  | $ | 23,114 |
Less: Accumulated depreciation | (2,982) |  |  | (2,639) |
| 20,651 |  |  | 20,475 |
Vehicles held for sale | 602 |  |  | 734 |
Vehicles, net investment in lease (a) | 99 |  |  | 31 |
Vehicles, net | $ | 21,352 |  |  | $ | 21,240 |
________ (a) See Note 14 – Related Party Transactions. The components of vehicle depreciation and lease charges, net are summarized below:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Depreciation expense | $ | 723 |  |  | $ | 614 |  |  | $ | 1,940 |  |  | $ | 1,631 |
Lease charges | 41 |  |  | 48 |  |  | 115 |  |  | 126 |
(Gain) loss on sale of vehicles, net | 42 |  |  | (145) |  |  | 120 |  |  | (600) |
Vehicle depreciation and lease charges, net | $ | 806 |  |  | $ | 517 |  |  | $ | 2,175 |  |  | $ | 1,157 |
At September 30, 2024 and 2023, we had payables related to vehicle purchases included in liabilities under vehicle programs - other of $152 million and $206 million, respectively, and receivables related to vehicle sales included in assets under vehicle programs - receivables from vehicle manufacturers and other of $284 million and $252 million, respectively.

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