Zoomcar Plans To Add 20,000 New Cars To Its Fleet By FY2025

Zoomcar, a self-driving and car-sharing platform, has stated that it will add over 20,000 new cars to its fleet in India by the end of FY2025, betting on the growing popularity of car sharing in the country.

According to the Economic Times, the company has collaborated with firms like Cars24, Acko Drive, Spinny, and Droom to make car ownership more accessible to hosts through special deals, financing, and other means. Meanwhile, Zoomcar claims to make car sharing more convenient and affordable.

This expansion not only meets the growing demand for self-drive car rentals but also promotes economic stability and develops the entrepreneurial spirit in communities, according to a press release issued on May 8.

Zoomcar’s car-sharing business intends to provide a new source of cash for new vehicle owners through micro-entrepreneurship. According to the company, its platform has over 10 million guests renting vehicles for travel purposes, which translates to an income of Rs 7 lakh per year for a Zoomcar host with one car (depending on model). The company also says that its hosts earned around $4 million in Q3 2023.

“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 the fiscal year 2025,” said Greg Moran, Co-founder & CEO, Zoomcar as quoted by Hindustan Times.

Zoomcar recently announced partnerships with industry companies to increase car purchases for new and existing Hosts. Zoomcar Hosts receive a unique deal of up to Rs 1,00,000 discount as well as Rs 20,000 in special bonuses on certified pre-owned car purchases through Cars24.

Meanwhile, ACKO Drive is offering savings of up to Rs 85,000 on new car purchases, as well as appealing financing incentives such as fast loan approval and accelerated car delivery, among other benefits.

Expanding on this achievement, Zoomcar made these special offers available to their community of more than 25,000 Hosts, and more than 2000 Hosts expressed an instant interest in buying more cars during the next one to two months. The resounding response from Zoomcar Hosts highlights how relevant these partnerships are in the community.

While the guest community is rapidly expanding, with over 85 per cent of users rating their bookings 4.5 or higher, Zoomcar is planning to expand its platform even further, with an addition of over 5000 cars by the end of FY24 and over 20,000 cars by the end of FY2025 to meet rising demand.