Mahindra & Mahindra is targeting more than 50 per cent market share in India’s small pickup segment in FY27, with the expanded Veero range expected to support growth, company President of Automotive Business Velusamy R said on Tuesday.
The automaker currently holds a 46 per cent share of the small pickup segment year-to-date through July, compared with 49.1 per cent in FY26, Velusamy told PTI in an interview. He said the addition of a new 1.1-tonne CNG variant could help the company cross the 50 per cent mark during the current fiscal year.
“Very soon… we are launching the electric,” Velusamy said, adding that the Veero platform had been designed as a multi-energy architecture covering diesel, compressed natural gas and electric powertrains. The company did not disclose a specific launch date or pricing for the electric version in the information provided.
Mahindra expanded the Veero range on Tuesday with the launch of the 1.1-tonne XXL CNG variant and upgrades to its diesel range. The two CNG models, V2 and V4, are priced at ₹8.25 lakh and ₹8.55 lakh, respectively, while the diesel models are priced between ₹8.29 lakh and ₹9.45 lakh. All prices are ex-showroom.
The small pickup segment serves a range of commercial uses, including deliveries linked to e-commerce and quick commerce, fast-moving consumer goods distribution, construction, agriculture and vehicle replacement demand. Velusamy said the company saw further room for growth across these categories and was witnessing “tremendous pull” for pickup products in August.
He referred to demand in both the below-2-tonne category and the 2-3.5-tonne category, without providing sales figures for August or a detailed breakdown by application. The company’s market-share target therefore depends on the performance of the expanded Veero range and the wider demand environment in the commercial vehicle market.
The move gives Mahindra a broader powertrain offering in a segment used for short-haul goods movement and last-mile distribution. The CNG launch also adds another fuel option to the company’s small-pickup portfolio ahead of the planned electric model.
Mahindra’s next stated product milestone is the launch of the electric Veero. The company has not yet announced its price, specifications or commercial availability timeline.
