Zoomcar, the India-based car sharing marketplace, has launched Zoomcar Host – the Philippines’ first ever car sharing marketplace, allowing vehicle owners to generate income by sharing their car on the Zoomcar platform.
With Zoomcar Host, Filipinos can rent out their vehicles from a six-hour to six-month periods and generate additional income when not in use, Zoomcar said in a statement.
At scale, the company expects this program to dramatically increase accessibility of cars to urban city dwellers while concurrently reducing on-road congestion and urban air pollution.
Through Zoomcar Host, it said that Zoomcar seeks to transform this idle vehicle capacity to enable better utilization.
In the first three months upon signing up, the company will offer guaranteed payment for every hour that their vehicle is listed, regardless of booking status whether the car is booked or stays idled. After such time, owners enter a revenue-sharing model wherein they share the total booking amount.
“At Zoomcar, our mission is to democratize car access across the world’s high growth urban centers and our new host program is just another example of our commitment to creating localized solutions to address pressing challenges linked to urban mobility in the Philippines.
“Together with Zoomcar Host, we expect to give Filipinos a financial support by earning additional income with their beloved vehicles,” said Gene Angelo Ferrer, Vice President and Country Head of Zoomcar Philippines.
According to the statement, Zoomcar Host also features a simple on-boarding process, beginning with online registration and an onboarding call. A complimentary car health check-up and installation of state-of-the-art safety devices follows, which would take no more than one day. No warranties are to be voided during the onboarding process.
At its core, Zoomcar’s platform gives owners maximum flexibility in listing their vehicles. Private car owners can list their vehicles to the marketplace in the minimum period of 48 hours. In order to further simplify the car-sharing process, Zoomcar directly credits weekly earnings to the vehicle owner’s bank account.
At present, Zoomcar offers individual vehicle owners a joining bonus of PHP7000 ($136.71) along with additional incentives tied to high quality host ratings on the platform. There is also a PHP5000 ($97.65) referral fee for those who could invite their friends to become Zoomcar Hosts. Zoomcar also offers enhanced incentives for the host’s initial time on the marketplace.
The new feature comes just two weeks after Zoomcar went live in the Philippines in December 2021.
Starting in Metro Manila, Zoomcar looks to launch in other cities such as Cebu and Davao later in 2022, targeting to cover 20 cities across the Philippines by 2023.
The company plans to have 1,000 cars by January 2022, with an intention to scale to 20,000 cars on the marketplace by the end of 2022 through a $25 million investment in the next 12 months.
Zoomcar launched India’s first car sharing platform in 2013, and today is the market leader in the car sharing ecosystem with approximately 10,000 cars on its platform and a presence across five countries.
Zoomcar allows individuals to rent from a diverse pool of cars by the hour or by the day. Headquartered in Bangalore, Zoomcar employs over 300 people and operates in 50+ cities across India. In 2020, Zoomcar launched Zoomcar Mobility Services, the company’s enterprise software as a service (SaaS) based mobility solutions offering covering, white-labelled subscription services and Internet of Things (IoT) based driver behavior monitoring solutions. Uri Levine, the founder of mobility unicorn Waze, is the company’s Chairman.
Zoomcar launches operations in the Philippines, plans to invest $25 million over next 12 months