Hype is now focusing on Tier II cities and looks forward to expanding its operations to Lucknow, Kanpur, Ranchi and Vadodara by the end of this year.
Hype also plans to expand operations to Tier 2 cities in India
Hype Luxury Mobility Rentals has now expanded its services to serve 19 cities across India – Ahmedabad, Bangalore, Chandigarh, Chennai, Cochin, Coimbatore, Delhi NCR, Goa, Hyderabad, Indore, Jaipur, Jodhpur, Kolkata, Mangalore, Mumbai, Madurai and Pondicherry. Hype began operations in 2017 in seven cities across the country and recorded monthly growth (MoM) of 400%. Having been successful in Metro and Level I cities in India, Hype is now focusing on Level II cities and looks forward to expanding operations to Lucknow, Kanpur, Ranchi and Vadodara by the end of this year. this year.
Speaking about the organization’s expansion plans, Raghav Belavadi, Founder and CEO of HYPE Luxury Mobility, said: “Since August 2000, there has been a sudden spike, which is four to five times the number tourists renting our luxury cars. demand from different parts of India has prompted us to expand our business to other cities as well. He also added, “With unlocking, we have seen a significant increase in the demand for renting our luxury cars for weekend getaways with families and friends, and we expect the trend continues. “
Going forward, Hype is targeting 300% growth in fiscal 2024. Recently, it added 1,000 luxury cars and now has a fleet of over 14,000 cars with over 6,000 cars. luxury and 8,000 top-of-the-range cars. There has been a 3- to 4-fold increase in bookings which has helped the organization to double the size of its fleet. Hype operates on an aggregator model, working with dealers and manufacturers. The company claims that the boom in international tourism, exposure to luxury services, an increase in smartphone penetration, higher disposable income and better road infrastructure are some of the growth drivers in the rental market. of luxury mobility.
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