Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 145

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 145
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|----------:|:----|:--|:---------|:--|:----|:----|-------:|:--|
| Sales and marketing |     | $                             | 5,767,036 |     | $ | 6,734,205 |     | $ | (967,169 | ) |     |     |    -14 | % |

Sales and marketing expense
totaled $5.77 million during the year ended March 31, 2024, as compared to $6.73 million during the year ended March 31, 2023, a decrease
of $0.97 million, or 14%, primarily driven by a $1.27 million reduction in Host incentives (this reflects the portion of the host incentives
are accounted for as sales and marketing expense), $0.66 million reduction in performance marketing expenses, and $0.47 million optimization
in referral bonuses paid to existing Hosts for referring new Hosts during the year ended March 31, 2024 as compared to the year ended
March 31, 2023. Personnel related costs decreased by $0.38 million due to reductions in headcount. These cost reductions above were partially
offset by an increase of brand marketing expenditures by $1.81 million (centered on the Indian Premier League season during the April
to June 2023 time period), which impacted the year ended March 31, 2024, versus the year ended March 31, 2023.

General and Administrative

|                            |     | For the Years Ended March 31, |            |     |      |            |     |        |           |     |        |    |   |
|                            |     |                          2024 |            |     | 2023 |            |     | Change |           |     | %      
 Change |    |   |
| General and administrative |     |                               | 17,245,096 |     |      | 12,695,839 |     |        | 4,549,257 |     |        | 36 | % |

General and administrative
expenses were $17.25 million during the year ended March 31, 2024, as compared to $12.70 million during the year ended March 31, 2023,
an increase of $4.55 million, or 36%. The increase during the year ended March 31, 2024, was driven by an increase in legal and professional