Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 5

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1
Chunk 5
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is booked and used for a trip. Certain portions of the GBV associated with each trip are paid 100% to the Host (e.g., fuel costs) and
other portions are retained 100% by Zoomcar (e.g., value added trip protection fees); the balance of fees paid by Guests are apportioned
60% to the Host and 40% to Zoomcar. For more information on allocation of revenue between Hosts and Zoomcar, please see the section titled
“Management’s Discussion and Analysis - Standard Booking Flow.”

Rewards and Incentives

We utilize certain rewards
and incentives to encourage repeat and incremental transactions on our platform. For example, Guests that refer new customers to Zoomcar
receive redeemable credits when new users complete bookings; These credits are also issued as a part of loyalty program which involves
discounts or credits offered to Guests that they can redeem when booking subsequent trips on our platform.

Industry and Consumer Preferences

Our platform is designed
around consumer preferences and aims to provide smart transportation solutions within urban communities across emerging market countries.
Mobility options are currently limited in the markets we serve and the transportation options that are currently available are often
outdated, expensive and, in many cases, inflexible and inconvenient for short-term needs. Our business model and platform offerings continue
to evolve with changing consumer expectations and the observable shift in emerging market populations toward personalized, digitized
goods and services offered on-demand. We believe that our positioning in most major cities in India, together with our scalable technology
and platform features, make Zoomcar well-positioned to continue attracting customers from addressable markets with few parallels in terms
of scale and size. As further described below, based on publicly available population and economic data published by the United Nations,
Fitch and other sources, coupled with Zoomcar management estimates informed by professional experience, as of March 31,2025, our platform
has a serviceable addressable market in emerging markets of approximately $25 billion, assuming a penetration rate of less than 25% among
potential customers expected to fall within certain demographic parameters, and a total addressable market of $108 billion in emerging
markets, assuming broader adoption across a potential customer base that includes Hosts and Guests across the 25 countries we identify
as our potential target markets. Based on the estimates and the bookings catered by our platform we estimate that the size of the total
addressable market in India is $43.2 billion, and hence, at