Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 128

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 128
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 the nine months ended December 31, 2024, as compared to $3.51 million during the nine months ended
December 31, 2023, a decrease of $1.12 million, or 32%. This decrease was driven by employee benefit costs reductions of $0.89 million,
and a further reduction of $0.23 million in IT platforms support costs as the Company continues to optimize usage of cloud-based IT services
while enabling more in-app features for Guests and Hosts.

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Sales and Marketing

|                     |     | 2024 | Three months ended December 31, |     | 2023 |         |     | Change |          |   |     | %      
 Change |     |   |     | 2024 | Nine months ended December 31, |     | 2023 |           |     | Change |            |   |     | %      
 Change |     |   |
|:--------------------|:----|:-----|--------------------------------:|:----|:-----|--------:|:----|:-------|:---------|:--|:----|:-------|----:|:--|:----|:-----|-------------------------------:|:----|:-----|----------:|:----|:-------|:-----------|:--|:----|:-------|----:|:--|
| Sales and marketing |     | $    |                         191,090 |     | $    | 962,652 |     | $      | (771,562 | ) |     |        | -80 | % |     | $    |                      1,208,431 |     | $    | 4,822,646 |     | $      | (3,614,215 | ) |     |        | -75 | % |

Sales and marketing expense
totaled $0.19 million during the three months ended December 31, 2024, as compared to $0.96 million during the three months ended December
31, 2023, a decrease of $0.77 million, or 80%, primarily driven by a $0.56 million reduction in performance marketing expenses and $0.03
million reduction in brand marketing expenses incurred on brand visibility. Further there was a reduction of $0.04 million in Host incentives
(this reflects the portion of the host incentives accounted for as sales and marketing expense during the three months ended December
31,