ZAP Subscribe By Zoomcar Crosses 3200 Car Bookings In March 2019
The self-drive mobility company Zoomcar sells 3200 car subscriptions through its ZAP Subscribe offering in March 2019. This makes Zoomcar 100% bigger than India’s largest car dealership when it comes to monthly car sales by volume.
Launched exactly a year ago, ZAP has crossed the 7000+ car subscription benchmark! Launched with a vision to enhance the availability of self-drive and subscription-based ownership cars, the target is to bring 500,000 ZAP Cars on the marketplace platform over next 2 years from a supply standpoint and subsequently clocking 20 million bookings on the demand side. Zoomcar’s subscription service, ZAP, is the sole way of boosting the company’s fleet.
Car Subscriptions is totally a new category in India and a market disrupting offering. With the shift towards medium/long term rentals and not buying, it’s an apt time for Zoomcar to launch the ZAP service!
Commenting on the gigantic rise of ZAP Subscribe in India, Zoomcar’s Founder and CEO Greg Moran said “With the growth of shared economy across the globe, subscription-based car ownership is becoming an increasing trend. While in matured markets like USA, subscription commands 40% of the total cars sold annually. We strongly believe that through ZAP Subscribe we can grab 15% to 20% of India’s personal car purchase market over next 2-3 years. We’re strongly committed to the Indian market when it comes to mobility solutions and will continue to provide the ultimate in convenience, flexibility, and affordability to the consumer.”
Interestingly, 80% of 7000+ ZAP subscribers are non-intenders, that is, they weren’t actually looking to buy a new car owing to heavy down-payments, EMI, maintenance costs etc. But with ZAP’s ZERO down-payment, FREE Insurance and maintenance benefits and with monthly subscription cost being lower than EMIs, it became a catalyst for these users to go for car ownership. For all these 80% customers ZAP cars are their first car purchase!
