Zoomcar, the car rental platform, reported today that it has more than 20,000 cars in India live on its more comprehensive Zoomcar rental platform. The company expects to achieve profitability in India by the end of 2022.
Zoomcar Co-Founder and CEO Greg Moran said: “We’re really excited about the pace of organic growth on our platform, for both hosts and guests. Our team remains focused on delivering great customer experiences on Zoomcar. Now we’m doubling down building more efficiencies in our market, and expect to be cash flow positive in India by the end of the year.
The company has seen robust growth since its launch, with more people hosting their cars on the platform to earn an extra passive income. On average, Zoomcar hosts earn more than Rs 50,000 in a month, and several hosts have earned more than Rs 3 lakhs in the last 6 months.
The market currently also offers a selection of luxury cars from Audi, Mercedes and Mini Cooper, and new cars with 7 seats such as the Tata Safari and MG Hector Plus. Hosts of luxury cars have purchased more than Rs 5 lakhs on Zoomcar in the last 6 months, and have earned on average more than Rs 70,000 per month.
The company’s unique platform makes car sharing easier. Owners of personal, private or non-transport vehicles (hosts) can list their cars on the platform, and eligible users (guests) can book these cars for personal use. Hosting on Zoomcar is easy: hosts can sign up for it for free, and get a free car health check during the on board process.
The car is then equipped with a safety monitoring device and is then ready to list on the platform and earn revenue for the host when the car starts receiving bookings. Hosts have complete flexibility to share their car when it is convenient. Zoomcar credits earnings directly to the hosts’ bank accounts. Through its host program, the company seeks to transform the capacity of idle cars by leasing private cars to make better use and reduce congestion on the road and urban air pollution in cities.
Speaking of the growth of Zoomcar, Nirmal NR, CEO, Zoomcar India, said: “The Zoomcar car parts market gives individuals access to the most diverse selection of cars in all of India, and we are pleased to announce that we now live with over 20,000 cars in India on our unique car. We have witnessed exceptional growth in the number of hosts using our platform and can expect this to grow even more as more car owners understand the economic benefits of hosting on Zoomcar. Our steady growth is a testament to our commitment to it. creating local solutions to address pressing challenges linked to urban mobility in India.