Vehicle Rental Activities (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

The components of vehicles, net within assets under vehicle programs are as follows: 

	As of		As of
	March 31,		December 31,
	2026		2025
Rental vehicles (a)	$	20,204	$	21,011
Less: Accumulated depreciation	(2,618)		(2,859)
	17,586		18,152
Vehicles held for sale	361		432
Vehicles, net investment in lease (b)	146		136
Vehicles, net	$	18,093	$	18,720

__________

(a)For the year ended December 31, 2025, reflects long-lived asset impairment and other related charges, which reduced the carrying value of our rental vehicles to fair value.

(b)See Note 15 – Related Party Transactions.

The components of vehicle depreciation and lease charges, net are summarized below:

	Three Months Ended  March 31,
	2026		2025
Depreciation expense	$	650	$	693
Lease charges	24		28
(Gain) loss on sale of vehicles, net (a)	(10)		334
Vehicle depreciation and lease charges, net	$	664	$	1,055

__________

(a)For the three months ended March 31, 2025, includes other fleet charges of $390 million related to the disposal of certain fleet in our Americas reportable segment.