Zoomcar & CARS24 partner for car sharing entrepreneurship

BANGALORE, India, Feb. 07, 2024 (GLOBE NEWSWIRE) — Zoomcar Holdings, Inc. is a car sharing platform that allows users to rent cars, which recently went public on the NASDAQ, and CARS24, India’s AutoTech platform for pre-owned cars, have joined forces to empower local hosts in their car sharing entrepreneurial journey. As part of the partnership, Zoomcar will provide its car sharing platform and technical expertise, while CARS24 will provide its car leasing business and network of car dealerships. Through this 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. They can also enjoy 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. It empowers 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. They offer 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. 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. This strategy aims 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.”

Kannan, a 35-year-old Zoomcar super host in Mumbai with five cars listed on the Zoomcar marketplace, said “The Zoomcar and CARS24 partnership is a game-changer for multi-car hosts like me. Now, I can easily access exclusive used car deals and financing. Furthermore, this frees up my capital to expand my fleet without breaking the bank. This means more cars on the road, happier customers, and a bigger business – it’s a win-win all around!” 

Gajendra Jangid, Co-Founder, CARS24, said, “We’re thrilled to team up with Zoomcar, providing their hosts with special access to our inventory at amazing prices, complemented by hassle-free financing options. Moreover, through this groundbreaking partnership, we’re not just unlocking new earning potential for Zoomcar hosts. We’re also injecting the car-sharing ecosystem with a fleet of pre-loved, affordable, and value-packed vehicles. The introduction of these quality used cars is poised to create a transformative impact, offering sustainable mobility solutions. This game-changing alliance has us buzzing with excitement, setting the stage for innovation and a positive shift. As we embark on our journey together, we’re confident our shared drive will positively influence how people experience shared mobility.”

Through this partnership, Zoomcar expects to leverage CARS24’s stellar reputation in the pre-owned car market. Moreover, this will ensure hosts gain access to high-quality used cars. This alliance not only unlocks new earning potential for the hosts but also broadens the reach of the Zoomcar platform. CARS24 is a trusted name synonymous with transparency and reliability. It also streamlines the process, offering hosts a seamless and cost-effective way to enhance their vehicle fleet.

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