Gurugram (Haryana) [India], February 9: In a groundbreaking move that promises to redefine the Indian travel landscape, MakeMyTrip has embarked on a transformative journey by acquiring a majority stake in Savaari Car Rentals, a frontrunner in the Car Rental domain that boasts a presence in over 2000 cities across India. The partnership aims to expand the reach from the existing network of 2,000 cities to an ambitious 4,000 cities in the next six months, highlighting their dedication to increasing accessibility and reaching a broader customer base.
Understanding the critical role of last-mile connectivity in travel, Savaari and MMT are dedicated to providing comprehensive services that span the entire travel journey. 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.
“This acquisition marks a pivotal moment in the $3 billion-plus, yet largely unorganized, intercity market. We are now looking to transform this space by leveraging technology as well as deeper consumer understanding from MakeMyTrip. The timing of the acquisition couldn’t be better, as it coincides with the improved road infrastructure in the country and a wider acceptance among travelers to book intercity cab services online,” said Gaurav Aggarwal, Founder and CEO, Savaari Car Rentals.
Savaari stands to benefit immensely from MakeMyTrip’s extensive network, unlocking new avenues in the promising yet underexplored Indian Car Rental market. This partnership promises to broaden Savaari’s consumer base and establish it as the preeminent, customer-first Car Rental brand in India.
“The inter-city cab service remains largely offline, with low online penetration, fragmented supply, and a lack of standardization in service. We have encountered similar issues in intercity private bus transport where we now have a leadership position through redBus. With this majority stake in Savaari, we seek to extend that leadership to adjacent segments in ground transport,” said Rajesh Magow, Co-founder and Group CEO of MakeMyTrip. “The founding members and the leadership of Savaari have done an incredible job over the past few years in becoming the premier player in this category. Our endeavour now will be to further boost growth with our technology and consumer insights expertise. Prakash Sangam, CEO of redBus, will lead this initiative from the MMT group’s perspective and work closely with the leadership team of Savaari to scale this business to new heights.”
This alliance is set to redefine the way customers experience travel, making operations more fluid while unlocking the vast opportunities within the Indian Car Rental landscape. Savaari will retain its unique brand identity under the expansive umbrella of MakeMyTrip, ensuring that its legacy of excellence continues to thrive. This merger is a pledge to enrich the journey of exploring India’s diverse terrains and destinations, fueled by a shared vision and commitment to innovation.
Speaking about the development, Samir Kumar, MD & General Partner, Athera Venture Partners, who were early investors in Savaari and redBus, said “The acquisition of Savaari by MakeMyTrip not only affirms Savaari’s dedication to excellence but also heralds a new era of growth and possibilities. I’ve witnessed MakeMyTrip’s remarkable intercity private bus travel transformation with redBus. This innovation and expertise, I firmly believe, will be replicated in reshaping intercity cab services with Savaari, continuing their trajectory of redefining travel in India.”
Through innovation, comprehensive solutions, and a relentless pursuit of excellence in service delivery, MakeMyTrip and Savaari are setting the stage to lead the Indian Car Rental Industry into a future characterized by organization, customer focus, and unparalleled travel experiences.
Savaari is India’s premier chauffeur driven car rental service. Since our inception in 2006, we have constantly strived to offer reliable, safe and affordable cabs. Our presence in over 2000 cities across the country uniquely positions us as India’s largest geographical network of cab services. Our services include Outstation Oneway drops, Outstation Roundtrips, Hourly Local Rentals and Airport Transfers.
MakeMyTrip Limited is India’s leading online travel company. We own and operate well recognized online brands, including MakeMyTrip, Goibibo and redBus. Through our primary websites, www.makemytrip.com, www.goibibo.com, www.redbus.in, and mobile platforms, travellers can research, plan and book a wide range of travel services and products in India as well as overseas. Our services and products include air ticketing, hotel and alternative accommodations bookings, holiday planning and packaging, rail ticketing, bus ticketing, car hire and ancillary travel requirements such as facilitating access to third-party travel insurance and visa processing.
We provide our customers with access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India, a comprehensive set of domestic accommodation properties in India and a wide selection of properties outside India, Indian Railways, and all major Indian bus operators.