Myles is a self-drive car sharing company in India, established in 2013 and owned by Carzonrent in Delhi, India.
Background
Founded in November 2013 by Sakshi Vij, Myles operates as a self-drive car sharing service under the ownership of Carzonrent India Private Limited (CIPL). The company offers flexible and hassle-free car subscription and self-drive rental services, allowing individuals to enjoy the benefits of having a car without the risks and complexities of traditional car ownership.
Key Strategic Focus
Myles aims to revolutionize car ownership by providing innovative car subscription services that eliminate the need for down payments, insurance, or maintenance costs. The platform offers fixed monthly plans, 24/7 roadside assistance, and the flexibility to switch cars as needed, catering to both short-term and long-term mobility needs.
Financials and Funding
In January 2019, MG Motor India announced a strategic partnership with Myles. In October 2020, Toyota Motors India, and in August 2020, Maruti Suzuki India tied up with Myles to offer their cars on subscription.
Pipeline Development
Myles has expanded its services to include both short-term rentals (for hours and days) and long-term subscriptions (for months and years). The company offers a variety of vehicles, including new and used cars, with flexible tenure options ranging from one month to 48 months. Recent developments include the launch of the Smart Subscription Plan and the Smart Plus Subscription Plan, catering to different customer needs.
Technological Platform and Innovation
Myles leverages an easy-to-use online platform that simplifies the process of browsing and booking cars. The platform includes features such as minimal paperwork, simplified exits, and immediate delivery availability. Additionally, Myles offers a Try At Home program, allowing customers to test products before committing to a purchase.
Leadership Team
- Sakshi Vij: Founder of Myles, with a background in marketing at Carzonrent India Private Limited.
Leadership Changes
No recent significant changes or appointments within the company's leadership have been reported.
Competitor Profile
- Market Insights and Dynamics: The car subscription and self-drive rental market in India is experiencing growth, driven by increasing urbanization and a shift towards shared mobility solutions.
- Competitor Analysis: Key competitors include Zoomcar and Revv, both offering similar self-drive car rental services. Zoomcar focuses on short-term rentals, while Revv offers both short-term and long-term rental options.
Strategic Collaborations and Partnerships
Myles has established strategic partnerships with major automotive manufacturers such as MG Motor India, Toyota Motors India, and Maruti Suzuki India to offer their cars on subscription.
Operational Insights
Myles differentiates itself through flexible subscription plans, zero down payment options, and comprehensive services that include maintenance and insurance. The company's focus on customer convenience and flexibility positions it competitively in the market.
Strategic Opportunities and Future Directions
Myles plans to continue expanding its service offerings and geographic reach, leveraging technological advancements to enhance user experience. The company aims to capitalize on the growing demand for flexible and hassle-free car ownership alternatives in India.
Contact Information
- Website: www.mylescars.com
- Headquarters: New Delhi, India
