Zoomcar Expects to Achieve Profitability in India

Zoomcar said on Tuesday that it expects to be profitable in India by the end of the calendar year due to Strong Organic Growth. According to the company, it has 20,000 cars on its platform. Zoomcar hosts earn more than Rs 50,000 on average per month, with several others earning more than Rs 3 lakh in the last six months, according to a statement released by the platform on Tuesday.

The company stated that it now offers a selection of premium cars as well as new 7-seater vehicles and that luxury car hosts have earned more than Rs 5-lakh on the platform in the last six months, earning more than Rs 70,000 on average per month. Owners of personal, private, or non-transport vehicles are among the platform's hosts.

"On the back of this strong organic growth, the company expects to achieve profitability in India by the end of 2022," Zoomcar said. Greg Moran, cofounder-CEO, Zoomcar said, "We've been really excited by the pace of organic growth on our platform, for both hosts and guests. Now, we're doubling down on building more efficiencies into our marketplace, and expect to be cash-flow positive in India by the end of the year."