Zoomcar Partners with CARS24 to Redefine Car Hosting Landscape

Tailored Offerings from CARS24 on Used Car Purchases and Flexible Financing Options Will Help Zoomcar Host Entrepreneurs Accelerate Their Success and Expand their Fleets

BANGALORE, India, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Zoomcar Holdings, Inc. (“Zoomcar” or the “Company”) (Nasdaq: ZCAR), the leading marketplace for car sharing in emerging markets, which recently went public on the NASDAQ, and CARS24, India's leading AutoTech platform for pre-owned cars, have joined forces to empower local hosts in their car sharing entrepreneurial journey. Through this strategic partnership with Cars24, Zoomcar will aid its hosts in their fleet expansion endeavors and in turn potentially increase their earnings by offering exclusive opportunities on car purchases and flexible financing options. 

Zoomcar hosts can now take advantage of potential substantial savings of up to INR 1 lakh along with additional benefits of up to INR 20,000 on pre-inspected and certified used car purchases from CARS24. This collaboration addresses the critical need for affordable and reliable vehicles for hosts while empowering them to expand their small business presence with significantly lower upfront capital investment. Used cars, known for their practicality and cost-effectiveness, present a sustainable solution for Zoomcar hosts. The partnership will promote the advantages of incorporating pre-owned vehicles into the car-sharing ecosystem. These vehicles not only offer affordability but also contribute to environmental well-being. This partnership will also allow Zoomcar hosts an option to easily upgrade their present cars on CARS24 to receive additional benefits.

Zoomcar offers cars shared by local hosts across 45+ cities, including pick-up and delivery options at transit points like airports and railway stations with a comprehensive portfolio of cars across categories - Hatchbacks, Sedans, MUVs, SUVs, EVs, and Luxury cars. Advocating for the benefits of used cars, this partnership promotes their affordability, reliability, and positive environmental impact. 

“We’re delighted to partner with CARS24 to bring these innovative, competitively priced used car and financing options to our hosts," said Greg Moran, CEO and Co-Founder Zoomcar. "As a platform, we’ve witnessed exceptional growth in the number of hosts, and we expect this number to grow even more as we continue to unlock incremental value for our host ecosystem through these customized financing products. Reducing the cost to acquire a vehicle is a fundamental part of our longer-term strategy to democratize vehicle access for millions of potential vehicle-owning, micro-entrepreneurs across the country. This is the lifeblood which fuels the flywheel of our car sharing marketplace."