Mahindra & Mahindra is targeting more than 50 per cent market share in India’s small pickup segment in FY27, with the expanded Mahindra Veero range expected to drive growth, a senior company executive said on Tuesday.
The automaker currently holds a 46 per cent share of the segment year-to-date through July, compared with 49.1 per cent in FY26, according to Velusamy R, president of Mahindra’s Automotive Business. He said the company expects the launch of a 1.1-tonne compressed natural gas variant to help it cross the 50 per cent mark during the current financial year.
“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,” Velusamy said in an interview with PTI.
Mahindra on Tuesday expanded the Veero range by introducing the 1.1-tonne XXL CNG variant and upgrading its diesel models. The two new CNG variants, V2 and V4, are priced at Rs 8.25 lakh and Rs 8.55 lakh, respectively, according to ex-showroom prices cited by the company.
The upgraded diesel range is priced between Rs 8.29 lakh and Rs 9.45 lakh. The vehicles are positioned for commercial users across sectors including e-commerce, quick commerce, fast-moving consumer goods, construction and agriculture. The company also expects replacement demand from existing users to support growth in the category.
The expansion gives Mahindra a wider range of powertrain options in a segment used for short-distance freight movement and last-mile delivery. The company said the Veero platform was designed as a multi-energy architecture covering diesel, CNG and electric powertrains.
“Very soon… we are launching the electric,” Velusamy said, without providing a launch date or further details on the electric model. The planned expansion comes as commercial operators assess operating costs and vehicle suitability across different delivery and goods-transport applications.
Velusamy said Mahindra was seeing “tremendous pull” for pickup products in August in both the below-two-tonne and 2-3.5-tonne categories. The company did not disclose August sales figures or provide a detailed forecast for the overall small-pickup market.
Mahindra’s immediate target is to regain and exceed its FY26 share level in the segment during FY27. The company’s next stated product milestone is the launch of the electric version of the Veero platform, while the newly introduced CNG and upgraded diesel variants are now part of its current range.
