Cardekho serves as a knowledge-based ecommerce website for car enthusiasts as well as an e-commerce platform for used cars. Cardekho`s management team consists of Amit Jain (co-founder and CEO), Anurag Jain (co-founder), Umang Kumar (CEO, International Affairs and co-founder). Other members of Car Decho`s management include Mayank Gupta (CFO), Umesh Hara (CEO, Used Cars), Manish Wadhwa (CPO), Vivek Srivastava (CTO) and more. *Brand information is in beta. They cannot be used for legal purposes. If there are any discrepancies, please contact us at info@zaubacorp.com, Updated on: {{localeString}} {{timeZoneNameShort}} The Gurugram-based car rental startup offers private and business customers a range of used cars to convenient subscription and rental plans. 0 CLAPS 0 Owning a car is now considered a burden rather than an asset due to its high purchase value and depreciation. Then there is the additional burden of paperwork, taxes, down payments, EMIs and vehicle improvement costs. For this reason, more and more people, especially millennials and Gen Z, prefer to drive the car of their choice with a subscription model without being burdened with ownership and maintenance issues. With the subscription model, users only have to pay an all-inclusive monthly fee, while everything else is done by the service provider.
According to Mordor Intelligence, the global used car market was estimated at $260 billion in 2021 and is expected to reach $460 billion in 2027, at a CAGR of 10%. India`s used car market was $32.14 billion in 2021 and is expected to reach $74.70 billion in 2027, at a CAGR of 15%. The global automotive subscription market was valued at $3,550.4 million in 2019 and is expected to reach $12,090.6 million by 2027, at a CAGR of 23% between 2020 and 2027, according to Allied Market Research. Entering the burgeoning field of subscriptions and car rental, Gurugram-based Pumpumpum promises to make the entire experience stress-free and economical with its selection of used cars available for subscription and leasing models. “Used car subscriptions are experiencing huge demand from millennials because they want to change cars frequently,” says Tarun Lawadia, founder and CEO of PumPumPum. “Our vision is to make car ownership stress-free, with customers driving the subscribed cars like theirs and allowing us to take the trouble to own a car.” Launched in 2018 by Tarun Lawadia and Sameer Kalra, PumPumPum offers more than 100 used cars of different makes, from budget models to ultra-luxurious models. In addition to private customers who are offered a subscription, the company also caters to companies with the leasing model. Retail subscription fees range from Rs 8,000 to Rs 40,000 per month, while rent for businesses ranges from Rs 15,000 to Rs 3,00,000 per month. How does it work? Customers can drive the car of their choice home in just a few steps with minimal paperwork, according to the company.
First of all, the customer selects the car. Then their creditworthiness is checked. Finally, the vehicle is handed over to the customer. Private customers must make a security payment of one or two months, while there is no security payment in the corporate sector. Stay up to date Please fill in this field. {{#error}} {{/error}} READ ALSO PumPumPum has a lightweight asset model and does not keep inventory. Instead, it displays the inventory of its dealers and partners on its website, which is pre-approved and certified. “If the car is not restored within a month, we get rid of it,” Tarun explains. The startup says it takes care of all operational and legal issues related to leasing. “This gives companies the convenience of opening up our rental program to all employees,” tarun says. Cars in the corporate customer segment can be rented for a period of 6 months to 24 months. In some cases, if the cars are relatively new, they can be rented for 36 months.
The rental plan includes end-to-end service, insurance, maintenance, and other vehicle-related matters. According to the company, all cars are equipped with an IoT device that tracks vehicle performance and driver behavior to ensure user safety. “We solve problems from the beginning, instead of spending a lot on vehicle maintenance later,” says Tarun. “In the event of an emergency or vehicle breakdown, SOS can be triggered to the emergency numbers and it will be easier for us to track the vehicle and quickly reach the user.” User base The company has more than 750 subscribers, 25% of whom come from retail subscribers. “Millennials and Gen Z make up 40% of our retail subscribers. We`ve seen a trend where upgrading a car takes place every 1.4 years on average,” tarun says. PumPumPum`s offerings are available directly in Delhi-NCR and Bengaluru and through its dealer network in more than 55 cities, including Leh, Jammu, Madurai, Coimbatore, Jaipur, Guwahati, Kolkata, Pune, Mumbai, Hospet, Bhagalpur, Lucknow and Kanpur. The startup works with 250 dealers and partners across India. Corporate customers include Safe Express, Snapdeal, McDonald`s, Bira, Simplilearn and CityMall, as well as startups such as PagarBook, Rentomojo and Rapido Bike Taxi. In the corporate sector, PumPumPum cars are mainly used by employees for their personal travel to work. Some cars are used to transport employees and business needs. The company competes with Spinny, Cars24, CarDekho, Droom and Zoomcar.
The PumPumPum PumPumPum team was launched with an investment of Rs 25 lakh from the personal savings of the founders and Rs 40 lakh from loans from friends and family members and bank debts. Tarun is an entrepreneur for the second time; His first project was an on-demand drug delivery startup called Plus App, after working at Chaayos and Netmeds. PumPumPum co-founder Sameer has more than two decades of experience in the car leasing industry. Previously, he was a consultant for CarDekho and Revv. The other stations were Clix Capital Services, Leaseplan India and Avis India. The PumPumPum team has over 50 members in Delhi-NCR and Bangalore. It`s all in the name Tarun says that the inspiration for the name of the company came from the song Mannu Bhai Motor Chali Pum Pum from the Hindi film Phool Khile Hain Gulshan Gulshan. When the founders thought about possible names, they found that all companies sounded the same, with the word “car” bearing the name – CarDekho, Carwale, Cars24, Cartrade.
“Everyone was using `car`, and using the same wouldn`t have given us any differentiation.