Zoomcar, a car-sharing marketplace focused on emerging markets, has announced the launch of Zoomcar Host — the first car-sharing marketplace in the Philippines that allows 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 it expects the 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 said it is seeking to transform 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,” said Gene Angelo Ferrer, vice president and country head for the Philippines.
“Together with Zoomcar Host, we expect to give Filipinos financial support by earning additional income with their beloved vehicles. Let’s make self-drive a part of the solution of today’s mobility problems.”
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, it added.
Zoomcar said its 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 P7,000 along with additional incentives tied to high-quality host ratings on the platform.
There is also a P5,000 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.