Zoomcar Introduces Prepaid Vouchers; Confirms Its India-First Operating Model Unaffected by US-India Tariffs

Rhea-AI Summary

Zoomcar (NASDAQ: ZCAR), the leading self-drive car sharing marketplace, has announced two significant developments. First, the launch of Zoomcar Vouchers, a new prepaid system allowing users to pay in advance for future trips with bonus credit benefits, set to roll out in mid-April across three major cities.

The introduction comes as the company reports significant growth in user retention, with repeat booking rates doubling and repeat user bookings now surpassing new user bookings. CEO Hiroshi Nishijima emphasizes that the voucher system aims to enhance customer relationships and promote long-term brand loyalty.

Additionally, Zoomcar has confirmed that its India-first operating model remains unaffected by US-India tariffs. The company maintains its commitment to expanding within India and expresses confidence in its Fiscal 2025 growth plans, positioning itself to capitalize on the expanding car-sharing marketplace in India.

BENGALURU, India, April 8, 2025 /PRNewswire/ -- Zoomcar Holdings, Inc. ("Zoomcar" or the "Company") (NASDAQ: ZCAR), the Nasdaq-listed leading marketplace for self-drive car sharing, announces the launch of Zoomcar Vouchers, enabling users to prepay for future trips on the app. With the repeat booking rate doubling and bookings from repeat users now exceeding bookings from new users, Zoomcar expands its product range to include prepaid vouchers, which is expected to improve user retention and encourage repeat user behavior. Zoomcar Vouchers, launching in the mid-April across three major cities, empowers users to plan travel in advance while providing a modest bonus credit upon purchase.

Hiroshi Nishijima, CEO of Zoomcar, stated, "Zoomcar Vouchers is designed to provide users with freedom of choice and greater flexibility in planning future travel. We're finding greater ways to deepen the relationships with our customers, while encouraging repeat bookings and long-term brand loyalty. Building trust with our users is key to building a sustainable long-term business."

Amidst the launch, the Company also indicated that the business is not impacted by the United States ("US") tariffs. "Given our India-first operating model and focus on domestic mobility solutions, we do not believe that the recent development on tariffs between US and India impact our operations or growth plans. Zoomcar remains committed to expanding its user base and product offerings within India," stated Mr. Nishijima. "We continue to have conviction in the growth plan that we've set out for Fiscal 2025 and beyond. Our business remains resilient and we remain optimistic about the future prospects of the car-sharing marketplace in India. Given our expertise and leading position in this market, we continue to be well positioned to capture the tremendous opportunity ahead."

About Zoomcar:

Founded in 2013 and headquartered in Bengaluru, India, Zoomcar is a leading marketplace for car sharing focused in India. The Zoomcar community connects Hosts with Guests, who choose from a selection of cars for use at affordable prices, promoting sustainable, smart transportation solutions in India.

Forward Looking Statements

This press release contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These forward-looking statements within the meaning under applicable law, can be identified by the use terms such as "may," "will," "aim," "empower," "estimate," "intend," "indicate," "continue," "promote," "believe," "boosting", "elevate," or "enhance," or the negatives thereof, as well as other variations or comparable terminology. We ask that you read statements that contain these terms carefully because we believe this information is important for our investors and customers. Any forward-looking statement in this press release refers solely to what is accurate as of the day it is issued or based on assumptions that Zoomcar believes to be reasonable. The actual results and outcomes may materially differ due to various factors or events beyond our control which we may not be foreseeable at all times. We cannot guarantee or assure any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this press release can or will be achieved. We undertake no obligation to alter or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as required by law.

Press Contact:
Press@zoomcar.com

Investor Relations Contact:
Investors@zoomcar.com

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SOURCE Zoomcar

FAQ

When will Zoomcar (ZCAR) launch its new prepaid voucher system?

Zoomcar will launch its prepaid voucher system in mid-April 2025 across three major cities in India.

How has Zoomcar's booking pattern changed according to recent data?

Zoomcar's repeat booking rate has doubled, with bookings from repeat users now exceeding bookings from new users.

Will the US-India tariffs affect Zoomcar's operations?

No, Zoomcar's India-first operating model is not impacted by the US-India tariffs, and their operations and growth plans remain unaffected.

What benefits do Zoomcar Vouchers offer to customers?

Zoomcar Vouchers allow users to prepay for future trips and receive a modest bonus credit upon purchase, offering greater flexibility in travel planning.

How does the new voucher system align with Zoomcar's business strategy?

The voucher system aims to improve user retention, encourage repeat bookings, and build long-term brand loyalty while deepening customer relationships.