Woman on the Wheel

Myles has added 11,622 new customers in the last two years. There was an increase in overall customer requests by 84% in 2021

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Sakshi Vij has always been passionate about the Shared mobility space for over 14 years now. During this time have looked at B2B Chauffeur-drive rentals, representing Global car rental brands in India, setting up and growing one of the first Radio taxi brands in India as well as scaling and exiting a Leasing business in India. Having studied at Harvard Business School, ESSEC Business School Paris, IIM Ahmedabad and SP Jain Center of Management Dubai Singapore, Vij received considerable enforcement of her beliefs in building businesses that create legacies while solving problems for sectors. "I have been doing the same with Myles, where we are solving the vehicles ownership problem," mentions Vij. Myles is solving the problems that exist in the Discovery, procurement, life cycle management and disposal of vehicles by creating a single platform for customers to buy an Accessible, Affordable and Convenient option of vehicle usage. By not having to worry about issues such as Vehicle loans, down payments, insurance costs, maintenance costs, accident repairs, etc, Myles customer is able to find the right vehicle for their needs and budgets using their simple application for anything from 1 day to 5 years through their Self Drive and Subscription products.

Myles
Sakshi Vij, Founder, Myles Cars

When asked about growth, Vij mentions, "In the next five years, it is expected that out of the 3 MN new & 3 MN used cars bought and sold in India, at least 25% of the market will switch to the subscription model. As of now, over 2000 cars have been shared on the Myles platform, and we plan to add 10,000 cars to our fleet this year. In November 2021, the company reported an 81% surge in EV subscriptions and aims to induct 50% of its fleet to EV by the end of 2023." The brand witnessed significant growth during the pandemic when OEMs such as Maruti Suzuki, Toyota Kirloskar Motors, and MG Motor partnered with Myles to offer subscriptions to their customers. Despite the pandemic, they have added 11,622 new customers in the last two years. There was an increase in overall customer requests by 84% in 2021.

The travel restrictions during the pandemic-induced lockdowns had led to declining numbers. However, the platform witnessed a positive trend and recovery after the lockdown ended. There was a rapid surge in demand for car subscriptions and car-sharing services as people realized that traveling by private vehicle is safer than using public transport. Many people were traveling out of town, which led to significant growth in bookings. Many people want to own a car but don't want to buy one. Therefore, our offerings at Myles work best for them. Over the last couple of months, the number of consumers reaching out to us daily for subscriptions has increased by four or five times. We are also offering used cars in good condition and attractive prices as many customers are opting for long-term subscriptions," shares Vij.

Factsheet

  • Women make up at least 30% of our workforce.
  • Myles brand has generated over Rs. 75 Cr of revenue so far.