Zoom car plans to increase its fleet by partnering with third parties to onboard more vehicles on the supply side.

Zoom car, a car rental company, is ramping up incentives for its hosts through various third-party partnerships to address demand-supply issues and spur growth in the car-sharing sector, according to CEO and co-founder Greg Moran. 

Moran shared that Zoomcar is reinvesting its current profitability, both at the gross profit level and booking contribution level, into expanding the core platform—specifically in increasing volumes and boosting awareness among hosts. He emphasized that growing the number of active listings is crucial for increasing platform bookings and revenue.

Recently, Zoomcar formed a partnership with Acko Drive on March 27, offering host savings of up to Rs 85,000 on new car purchases, along with benefits in car financing such as instant loan approvals and quick delivery. This followed a February 7 collaboration with used-car marketplace Cars24 to help hosts expand their fleets and enhance earnings.

Zoomcar has also joined forces with several other companies including EaseMyTrip, Sparkcars , and CleverTap. The company is addressing a notable gap between the number of active vehicle listings and its growing guest user base, which has surpassed 3 million. Currently, there are about 10,000 active listings on the platform.

In the third quarter of FY24, Zoomcar hosts collectively earned approximately $4 million. Despite a 19% decline in net revenue year-over-year to $2.4 million, the company achieved its highest global gross profit ever at $0.3 million, compared to a gross loss of $0.3 million in the previous year. Moran anticipates the company’s revenue will reach $20 million by the year’s end.

In India, Zoomcar reports double-digit supply growth across major regions and holds a dominant 95% market share in car-sharing, particularly in cities like Bangalore, Delhi, and Mumbai. The company also operates in Indonesia and Egypt, with plans to enter new markets in South East Asia, Sub-Saharan Africa, Latin America, and Central Asia.