Zoomcar targets 30% rise in margins as it gets asset light

Currently, its fleet comprises 3,000 cars across 17 cities of which it owns around 2,000 cars

Banking on an asset light model to increase net margins by 30-40 per cent, self-drive car rental company Zoomcar is planning to triple its fleet size this year and expand presence across 30 cities.

Currently, the fleet comprises 3,000 cars across 17 cities, of which it owns around 2,000 cars. It hopes to take the fleet size to 10,000. However, it wants to decrease the count of owned cars and rely more on brining partners on board, which would drive its business.

“It is not advantageous to own a car which is about two years old”, Greg Moran, the company’s chief executive