ZOOMCAR EXPANDS ZAP ACROSS INDIA

ZOOMCAR EXPANDS ZAP ACROSS INDIA

Zoomcar launches ZAP in 5 Tier-2 marketsand all Tier-1 markets

Zoomcar, India’s first and largest growing 100% self-drive car rental company, today announced ZAP’s launch in multiple cities and the overall expansion strategy for Tier-2 markets.After successfully launching ZAP in New Delhi. Mumbai, Bangalore, Chennai, Hyderabad and Pune,ZAP has now launched in Ahmedabad and Kolkata. In addition, ZAP is now also present across five Tier 2 markets, namely,Chandigarh, Jaipur, Mysore, Mangalore and Vizag. This brings ZAP’s presence across all 9 Tier-1 markets in total and 5 Tier-2 markets till date.

ZAP allows individuals to purchase vehicles, list the vehicle on a dynamic basis on its platform, get bookings from Zoomcar’shuge customer base and then finally earn cash to help offset the monthly ownership costs (by sharing in the profit on a daily, weekly and monthly basis). ZAP is the new age way to save on your EMI cost. For a Ford Figo a customer could recover 70% of the EMI cost by listing the car just on weekends.  What’s more, with 15 days of listing in a month a customer could recover 100% of the EMI cost and earn on top of it.

With ZAP, a customer who buys a new car can enjoy driving it and while they aren’t using it, they can earn money from it. The car can be shared with verified Zoomcar customers; community members, office colleagues, friends and perhaps the next door neighbour. The process is completely hassle-free since Zoomcar manages all the formalities, right from getting verified customers to managing all the bookings, cleaning the car and processing payments on time. ZAP also gives the associate *updates about the car's performance and warnings about the car's health along with updates on which parts of the car need to be addressed while servicing the car. 

The shared economy is often more convenient, accessible, and less expensive than existing market options. As it stands today, the transportation sector is amidst a complete revolution. Mobility needs are constantly evolving and so are our customers’ expectations to access cars in simple, uncomplicated ways.Utilisation rates for private cars in India are very low, only 10-15 percent. With the introduction of a vibrant peer2peer marketplace, Zoomcar will create a truly hyperlocal product (not dissimilar from an Airbnb for cars). ZAP ensures that individuals can offset their monthly vehicle ownership costs by over 75%. The marketplace is undoubtedly a stepping stone to even more innovative applications within car rental in the months ahead – Greg Moran, CEO and Co- Founder, Zoomcar.

For this target segment of the population, owning a car or even multiple cars will still be a part of life, but it won’t be the traditional ownership model. Instead of using the vehicle all the time and paying for all its costs, the car owner gets the advantages and conveniences of owning a car while splitting the costs with other people who want to rent the vehicle. This segment of users will probably be the savviest of all because they will get the car they want, including cars they couldn’t afford if they had to pay 100% of the cost. Because of that sharing, they can get the car practically for free, use it when they need it, and share it when they don’t need it.

Zoomcar has witnessed robust adoption with an associate base that’s tripling month on month. The company expects this marketplace model will account for over 80% of its overall vehicle inventory by end 2018.  The recent round of funding will allow Zoomcar to reach a fleet size of >25,000 across 30+ cities by 2017. 

Zoomcar also launched *Cadabra, its flagship full stack solution for transforming the in-car user experiences. Equipped with Bluetooth and 4G cellular connectivity, Cadabra tracks information that includes fuel levels, clutch position, harsh braking, inconsistent acceleration, seat belt usage, and engine health (among others). The solution also offers the possibility of over the air updates (OTA) and this will help Zoomcar to add even more functionality later this quarter.  Cadabra will be deployed across ZAP to improve the car ownership experience and help the owner save costs and reduce accidents.

In addition to Cadabra, Zoomcar has also launched “KLE” – keyless entry, which allows customers to unlock the cars through an app and can pick up the car and drop them off at various points across the neighbourhood.If you can’t find your keys, simply use your smartphone. If you can’t find your phone, use your car keys. The phone talks to the car via GPRS and Bluetooth. The device sits under the bonnet and doesn’t require any modifications to the vehicle itself. This enables privacy and safety between the associate on ZAP and the customers on Zoomcar’s platform.

About Zoomcar: Zoomcar holds the distinction of being India’s first and fastest growing 100% self-drive car rental company. It allows the user to rent cars by the hour, day, week, or month. Founded in 2013 and headquartered in Bengaluru, its service is presently spread across 17 cities.  Its vehicle catalogue offers a wide and extensive variety of cars for self-drive in India, ranging from hatchbacks to SUVs to luxury vehicles at all-inclusive prices that include the cost of fuel, insurance, and taxes. The company's ever-expanding fleet is currently clocking over 3,000 cars pan-India and increasing monthly. The company has expanded rapidly in a short period to unfurl services in new cities including Ahmedabad, Bangalore, Delhi NCR, Coimbatore, Chennai, Chandigarh, Hyderabad, Jaipur, Kochi, Kolkatta, Ludhiana, Mangalore, Mumbai Mysore, Pune, Siliguri and Vizag while rapidly adding new cars, new vehicle pickup points and home delivery options for consumer convenience.