Zoomcar Expands Car-Sharing Opportunities Through Strategic Partnerships

Zoomcar Expands Car-Sharing Opportunities Through Strategic Partnerships

Dil Bar Irshad | May 17, 2024 | 04:32 PM IST | Breaking News | Follow on Google News

Zoomcar Expands Car-Sharing Opportunities Through Strategic Partnerships

Zoomcar Expands Car-Sharing Opportunities Through Strategic Partnerships

Key Highlights:

1. Zoomcar’s partnerships with CARS24, ACKO Drive, Spinny, and Droom facilitate easier car purchases and financing for Hosts.
2. Zoomcar Hosts can earn up to Rs 7 lakh per year per car, with recent partnerships boosting interest and fleet expansion.
3. Zoomcar aims to add over 5,000 cars by FY24 and 20,000 cars by FY25 to meet growing demand.

Zoomcar Holdings, Inc. (Nasdaq: ZCAR), a leading marketplace for self-drive car sharing, is enhancing efforts to help local car Hosts grow their micro businesses. By partnering with industry leaders like CARS24, ACKO Drive, Spinny, and Droom, Zoomcar is offering customized car buying and financing options to make car sharing more convenient and cost-effective.

Zoomcar’s business model allows car owners to earn instant income by sharing their cars on the platform, which has over 10 million verified guests. On average, Hosts can earn up to Rs 7 lakh per year per car, though this varies by model and quality. In Q3 2023, Zoomcar Hosts earned approximately USD 4 million, providing significant financial stability.

Recent partnerships aim to boost car buying for new and existing Hosts. With CARS24, Zoomcar Hosts receive exclusive offers of up to Rs 1,00,000 off certified pre-owned cars, while ACKO Drive provides savings of up to Rs 85,000 on new cars, along with benefits like instant loan approval and expedited delivery.

The success of these partnerships is evident, with over 2,000 Hosts expressing interest in purchasing additional vehicles within the next 1-2 months. Zoomcar aims to add over 5,000 cars by the end of FY24 and more than 20,000 cars by FY25 to meet the growing demand.

Naveen Jain, a Zoomcar Host from Ahmedabad, shared his positive experience, noting significant earnings and an easy process for expanding his fleet with CARS24. Similarly, Dharmaraj from Coimbatore highlighted the straightforward process and financial benefits of adding more cars.

Greg Moran, Co-founder & CEO of Zoomcar, emphasized the importance of making Hosting as popular as booking a car on Zoomcar. The strategic partnerships are instrumental in driving growth and success for Hosts, providing them with the best opportunities to expand their business and increase earnings.

Founded in 2013 and headquartered in Bengaluru, India, Zoomcar connects Hosts with guests for affordable car-sharing, promoting sustainable transportation solutions in emerging markets.

Source: NewsWire

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.