Bengaluru : Savaari Car Rentals, a frontrunner in the Indian car rental domain, has just announced a successful financial year and has set its goals right for the FY 2024-25. The company credits its impressive growth to several key factors: high ROI from marketing activities coupled with industry-best acquisition costs, high-quality service resulting in over 60% repeat business, and cost-effective operations ensuring each transaction contributes positively to the margin. Since its inception in 2006, Savaari has tirelessly expanded its reach to over 2000 cities across India, with plans to double this figure in the coming year. Additionally, the company has reported a remarkable 50% growth in FY2024.
Gaurav Aggarwal, Founder and CEO, Savaari Car Rentals, addressing media said, “We are at the forefront of revolutionizing the over $3 billion intercity market, which remains largely unorganized. Our approach focuses on leveraging advanced technology and enhancing our understanding of consumer behaviours. This initiative aligns seamlessly with India’s digitization efforts, the government’s initiative to promote domestic tourism, and the increasing trend among travellers to use online platforms for booking intercity cab services“,he added.
Savaari’s collaboration with MakeMyTrip is a significant development that has the potential to reshape the travel industry landscape. This strategic partnership combines Savaari’s expertise in providing reliable and convenient car rental services with MakeMyTrip’s extensive reach and influence in the online travel marketplace.
One of the key aspects of this deal is the enhanced convenience it offers to customers. With Savaari’s integration into the MakeMyTrip platform, users can seamlessly book car rental services alongside their flights, hotels, and other travel-related arrangements. This all-in-one approach simplifies the travel planning process, providing a more comprehensive and streamlined experience for users.
Additionally, the collaboration is likely to result in more competitive pricing and exclusive deals for customers. By leveraging the strengths of both Savaari and MakeMyTrip, the partnership aims to offer cost-effective and attractive packages, making travel more affordable for a broader audience. This acquisition is part of MakeMyTrip’s ambitious strategy to harness the Intercity Car Rental market’s burgeoning potential, a sector valued at $6-$8 billion, with a significant potential of $3 billion shift towards online services.
Emerging trends in the car rental industry, such as advancements in artificial intelligence (AI), are significantly influencing market dynamics. The integration of AI and technological innovations is becoming increasingly critical. Savaari is leveraging these technologies to improve itinerary planning, personalize content recommendations, and fine-tune pricing strategies to cater to the diverse needs of its clientele. The use of AI algorithms for selecting cars and drivers ensures a perfect match with customer preferences, thereby enhancing service efficiency and personalizing the travel experience. Furthermore, Savaari’s future investments in chatbots and automation highlight its commitment to adopting a tech-driven approach, setting new benchmarks in the organized intercity car rental sector.
Impressively, Savaari’s cabs have traversed an astounding 1,250 lakh kilometres. In the process, they have executed a remarkable 2.4 lakh road trips across 3,200 Indian destinations. With over 25000 expert chauffeurs who have spent 52,453 trip days on the road, Savaari exemplifies unparalleled service quality and affordability. Compared to other cab options, the company’s data-driven approach and affordability solidify Savaari’s position as a trusted and go-to choice for Indian road trip enthusiasts.
