An axle is a central shaft that supports rotating wheels. On vehicles, the axle can be fixed to the wheels and rotate with them, or fixed to the vehicle with the wheels rotating around it. Bearings are provided where the axle is mounted. The document discusses different types of rear axles like full floating, semi floating, and three quarter floating axles. It also discusses front axles, describing them as either dead or live axles. Finally, it lists four types of stub axles used to connect front wheels to front axles: Elliot, reversed Elliot, Lamoine, and reversed Lamoine.