Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 129

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 129
---
 2024, as compared to the three months ended December 31, 2023). Personnel-related costs decreased by $0.14 million due to reductions
in headcount.

Sales and marketing expense
totaled $1.21 million during the nine months ended December 31, 2024, as compared to $4.82 million during the nine months ended December
31, 2023, a decrease of $3.61 million, or 75%, primarily driven by a $1.82 million reduction in brand marketing expenses incurred on brand
visibility, and $1.25 million reduction in performance marketing expenses. Further there was a reduction of $ 0.24 million in Host incentives
(this reflects the portion of the host incentives accounted for as sales and marketing expense) during the nine months ended December
31, 2024, as compared to the nine months ended December 31, 2023. Personnel-related costs decreased by $0.31 million due to reductions
in headcount.

General and Administrative

|                            |     | 2024 | Three months ended December 31, |     | 2023 |           |     | Change |            |   |     | %      
 Change |     |   |     | 2024 | Nine months ended December 31, |     | 2023 |            |     | Change |            |   |     | %      
 Change |     |   |
|:---------------------------|:----|:-----|--------------------------------:|:----|:-----|----------:|:----|:-------|:-----------|:--|:----|:-------|----:|:--|:----|:-----|-------------------------------:|:----|:-----|-----------:|:----|:-------|:-----------|:--|:----|:-------|----:|:--|
| General and administrative |     | $    |                       3,247,389 |     | $    | 9,782,855 |     | $      | (6,535,466 | ) |     |        | -67 | % |     | $    |                      7,302,337 |     | $    | 14,424,956 |     | $      | (7,122,619 | ) |     |        | -49 | % |

General and administrative
expenses were $3.25 million during the three months ended December 31, 2024, as compared to $