Mahindra eyes over 50% share in small pickups in FY27; electric Veero coming soon: Executive

New Delhi: Mahindra & Mahindra is targeting more than 50 per cent market share in the small pickup segment in the current fiscal year, with the expanded Veero range expected to help the automaker gain further momentum, a senior company executive said on Tuesday.

The company, which currently commands a 46 per cent share in the small pickup segment year-to-date through July, expects the addition of the 1.1-tonne CNG Veero to help it cross the 50 per cent mark in FY27.

Its market share in the segment stood at 49.1 per cent in FY26, Velusamy R, President, Automotive Business, Mahindra & Mahindra, told PTI in an interview.


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"In the small pickup segment in FY26, we were at 49.1 per cent, while in FY27 we are at 46 per cent. In the short term, Veero is expected to help Mahindra gain momentum and cross 50 per cent market share in FY27 once we launch this 1.1-tonne CNG," Veluswamy shared.

Mahindra on Tuesday expanded the Veero range with the launch of the 1.1-tonne XXL CNG variant and upgraded its diesel range. The two CNG models V2 and V4 are priced at Rs 8.25 lakh and Rs 8.55 lakh, while the diesel range is priced between Rs 8.29 lakh and Rs 9.45 lakh (ex-showroom prices).

"Very soon... we are launching the electric," Velusamy said, adding that the Veero platform was conceived as a multi-energy architecture covering diesel, CNG and electric powertrains.

The company sees further headroom for growth in the small pickup market across e-commerce, quick commerce, FMCG, construction, agriculture and replacement demand, Velusamy said.

He said the company was seeing "tremendous pull" for pickup products in August across both the below-2-tonne and 2-3.5-tonne categories.