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Business Economy

Zoomcar to add 20,000 cars in its platform by end of fiscal 2025

New Delhi, May 8 (UNI) Zoomcar, self-drive car sharing company, on Wednesday announced plans to expand its footprint by adding over 20,000 cars by fiscal year 2025 to its platform for “self-drive” car sharing and provide opportunities to card owners to boost their income by way of sharing their vehicles.
Zoomcar’s car-sharing business model has opened up opportunities for micro-entrepreneurship to car owners where they can Host their car to earn instant income by sharing it on Zoomcar where more than 10M verified guests book their cars for their travel needs.
On average Zoomcar Hosts earn up to Rs.7 Lakh per year with one car, which varies by car models and car quality. As of Q3 2023, Zoomcar Hosts earned approximately USD 4 million, marking a significant milestone in providing financial stability to individuals from diverse backgrounds, the company said in a statement.
Commenting on the success of the partnerships, Greg Moran, Co-founder & CEO at Zoomcar, said "We want to make Hosting a car on Zoomcar as popular as booking a car on Zoomcar. Our strategic partnerships with industry players have been instrumental in driving growth and success for our Hosts. We are committed to providing them with the best opportunities to expand their business and increase earnings while aiming to add over 20,000 cars to our platform by fiscal year 2025."
In the past few months, Zoomcar announced partnerships with industry leaders to boost car buying for new and existing Hosts. With Cars24, Zoomcar Hosts get an exclusive offer of up to Rs 1,00,000 off along with special benefits of Rs. 20,000 on certified pre-owned car purchases. ACKO Drive is facilitating savings of up to INR 85,000 exclusively on buying new cars coupled with enticing incentives on car financing, featuring instant loan approval and expedited car delivery, among other perks, it said.
Zoomcar, a leading marketplace for self-drive car sharing, has pumped up their efforts to help local car Hosts add more cars to grow their micro businesses on Zoomcar. Through synergistic partnerships with industry leaders such as Cars24, ACKO Drive, Spinny, and Droom, Zoomcar is making car sharing more convenient and cost-effective with customised offers on car buying and financing, the company stated.
Building on this success, Zoomcar extended these unique offers to their community of over 25,000 Hosts, with 2000+ Hosts showing immediate interest in purchasing additional vehicles within the next 1-2 months, the company said adding the overwhelming response from Zoomcar Hosts underscores the resonance of these collaborations within the community.
While the guest community is growing at a fast pace with over 85 per cent of users giving a 4.5+ star rating for their bookings, Zoomcar is poised to further expand its platform, targeting an addition of over 5000 cars by the end of FY24, and over 20,000 cars by the end of FY2025 to aid the growing demand. UNI SKB AKS
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