Zoomcar Launches 'Zoomcar Cabs': Affordable Car Rentals with Drivers as a New Offering
Rhea-AI Summary
Zoomcar Holdings (NASDAQ: ZCAR) has launched Zoomcar Cabs, a pilot program in Bengaluru offering commercial cars with professional drivers. This expansion beyond self-drive services comes after significant profitability improvements in the last 6 months. The new service allows customers to select specific car models, view ratings, and book vehicles for periods ranging from 2 hours to over 30 days.
Unlike traditional cab services that only offer broad vehicle categories, Zoomcar's AI technology enables detailed car selection, including year make, age, and boot space preferences. Users can manage their entire journey through a single app, with full control over routes and stops. The company plans to expand to other cities in 2025 based on the pilot's success.
Positive
- Significant profitability improvement reported in last 6 months
- Strategic expansion into new market segment with chauffeur-driven services
- Planned market expansion to other cities in 2025
Negative
- initial rollout to single city (Bengaluru)
- Requires significant investment in new service infrastructure
News Market Reaction – ZCAR
On the day this news was published, ZCAR declined 38.58%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
BENGALURU,
Zoomcar Cabs stems from a clear need expressed by Guests for a reliable, transparent alternative to traditional cab services, as Guests often compare self-drive options with chauffeur-driven services. In the last 6 months, Zoomcar has significantly improved profitability and is now strategically investing in new product lines to meet growing demand and elevate the overall customer experience.
In the current cab market, options are often limited only to selecting a car category like sedan, hatchback, etc, leaving customers uncertain about the exact car model or the condition of the car they will receive. Zoomcar's AI technology in cataloging, pricing, and image enhancement ensures every inventory item is unique, so Guests have the benefit to select the exact car model, see reviews and ratings by other Guests, car quality and condition preferences like year make, age, boot space, etc. Additionally, Guests simply need to add their pick up or start location on the Zoomcar app and have full control of their stops, route, destination, etc without the need to update it on app. Zoomcar Cabs offers the freedom to book a car for as little as two hours to extended periods of over 30 days.
Hiroshi Nishijima, CEO, Zoomcar said, "The launch of Zoomcar Cabs reflects Zoomcar's focus on listening to customer feedback and delivering tailored solutions with an added layer of transparency and flexibility that sets it apart from other apps. Guests can effortlessly book their preferred vehicles, whether for self-drive or with a driver, all through the single Zoomcar app — eliminating the need for multiple apps to meet their travel needs."
These technological advancements position Zoomcar to offer a seamless, scalable service that sets a new standard in the cab industry. The Bengaluru pilot serves as a beta project to validate this model, with plans for expansion to other cities in 2025 based on its success. These unique features set Zoomcar Cabs apart from other cab services and apps, ensuring Guests experience a combination of diversity, quality, choice and freedom. Whether for business trips, family vacations, or everyday commutes, Zoomcar Cabs is designed to meet diverse use cases, ensuring comfort, reliability, and affordability.
About Zoomcar
Founded in 2013 and headquartered in Bengaluru,
Forward-Looking Statement:
Except for any historical/factual information contained herein, this press release may contain forward-looking statements about our plans, efforts, goals, assumptions, commitments, expectations, or prospects inter alia related to Zoomcar's Cab services offering and reflect our management's expectations for the business. These forward looking statements entail significant risk and uncertainty. To identify these forward-looking statements, we use terms such as "may," "will," "aim," "enable," "increase," "estimate," "intend," "indicate," "continue," "expand," "enhance," "believe," "elevate", "supports,", "ensure", "drives," "expect" 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 may not be foreseeable at all times. We cannot guarantee or assure any plan, initiative, projection, goal, assumption, commitment, expectation, or prospects 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:
- Akarshit Gulati: akarshitg@avianwe.com
- Bhagyashree Rewatkar: bhagyashree.rewatkar@zoomcar.com
Logo: https://mma.prnewswire.com/media/2517562/5014195/Zoomcar_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/zoomcar-launches-zoomcar-cabs-affordable-car-rentals-with-drivers-as-a-new-offering-302337077.html
SOURCE Zoomcar
FAQ
What is Zoomcar's (ZCAR) new Zoomcar Cabs service offering?
How does Zoomcar Cabs differ from traditional cab services?
When will Zoomcar (ZCAR) expand its cab service beyond Bengaluru?
What technological advantages does Zoomcar Cabs offer?
How has Zoomcar's (ZCAR) profitability changed before launching Zoomcar Cabs?
