Zoomcar, the largest emerging market focused car sharing marketplace, announced the launch of 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 six-hour to six-month periods and generate additional income when not in use.
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, 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 idle. After such time, owners enter a revenue-sharing model wherein they share the total booking amount.
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 PHP 7000 along with additional incentives tied to high quality host ratings on the platform. There is also a PHP 5000 referral fee for those who could invite their friends to become Zoomcar Hosts whilst offering 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 US$25 million investment in the next 12 months.