Hindustan Times ST (Jaipur)

Zoomcar eyes profitabil­ity in India by this year-end

- Press Trust of India

MUMBAI: Car sharing platform Zoomcar on Tuesday said it expects to achieve profitabil­ity in India by this calendar year-end, on the back of strong organic growth.

The company claims it has 20,000 cars on its platform.

On an average, Zoomcar hosts earn more than ₹50,000 in a month, while several others have earned more than ₹3 lakh in the last six months, the platform said on Tuesday.

Stating that it now also offers a selection of premium cars as well as new 7-seater vehicles, the company said luxury car hosts have earned more than ₹5 lakh on the platform in the last six months, earning on an average more than ₹70,000 a month.

Hosts on the platform include owners of personal, private or non-transport vehicles.

“On the back of this strong organic growth, the company expects to achieve profitabil­ity in India by the end of 2022,” Zoomcar said.

“We’ve been really excited by the pace of organic growth on our platform, for both hosts and guests. Now, we’re doubling down on building more efficienci­es into our marketplac­e, and expect to be cash-flow positive in India by the end of the year,” said Greg Moran, co-founder-CEO, Zoomcar.

The company said it has witnessed steady growth since its launch, with more individual­s hosting their cars on the platform to earn an additional passive income.

Zoomcar’s car-sharing marketplac­e allows individual­s access to the most diverse selection of vehicles across India, said Nirmal NR, chief executive officer, Zoomcar India.

“We are thrilled to announce that we are now live with more than 20,000 cars in India on our unique car-sharing platform. 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,” he said.

 ?? MINT ?? The company claims it has 20,000 cars on its platform.
MINT The company claims it has 20,000 cars on its platform.

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