Zoomcar set to revive auto industry with car subscription model
With 80% market share and presence across 45 cities in India, Zoomcar, without owning a single assembly line, has disrupted its way up to become the third largest player after market leaders Maruti Suzuki and Hyundai in terms of volumes moved in India in August 2019 through its shared subscription platform.
Its shared mobility platform is viewed by Indian automobile industry as a way to reverse the major downturn in car sales by allowing consumers to enjoy their latest car models without having to own a car or pay for insurance and road tax.
Zoomcar is harnessing Artificial Intelligence(AI) and Internet of Things (IoT) to focus on soft touch unique user experience while addressing the pent up demand of the “asset light” millennials“ offering “on demand automobile ownership” with the latest models of cars ranging from Mahindra, Ford, Tata Motors, Volkswagen, Nissan, Renault among others and including hybrids and electric vehicles (EVs) with the solid backing from its corner stone investor M&M, Sequoia, Ford and JLR.