Mahindra & Mahindra is targeting more than 50 per cent market share in India’s small pickup segment in FY27, after expanding its Veero range with a new 1.1-tonne CNG model and upgrading its diesel offerings.
The automaker currently holds a 46 per cent share of the small pickup segment year-to-date through July, down from 49.1 per cent in FY26, Velusamy R, president of Mahindra’s Automotive Business, said in an interview reported by Press Trust of India on Tuesday.
“Very soon… we are launching the electric,” Velusamy said, adding that the Veero platform was designed as a multi-energy architecture covering diesel, CNG and electric powertrains.
Mahindra expanded the range on Tuesday with the launch of the 1.1-tonne XXL CNG variant. The company also upgraded its diesel range. The two CNG models, V2 and V4, are priced at Rs 8.25 lakh and Rs 8.55 lakh, respectively, while the diesel variants are priced between Rs 8.29 lakh and Rs 9.45 lakh. All prices are ex-showroom.
The company expects the new CNG model to help it regain momentum and cross the 50 per cent market-share mark during FY27. “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.
Small pickups are used across several commercial activity segments, including e-commerce, quick commerce, fast-moving consumer goods distribution, construction and agriculture. Mahindra also identified replacement demand as a potential source of growth for the category.
The company said it had seen “tremendous pull” for pickup products in August across both the below-2-tonne category and the 2-3.5-tonne category. The statement did not provide August sales figures or a detailed breakdown of demand by sector.
The expanded Veero range gives Mahindra additional powertrain options as it competes for demand from commercial operators. The company has not provided a launch date or pricing details for the planned electric version. Its immediate market-share target is tied to the newly introduced CNG model and the wider Veero portfolio.
Mahindra’s FY27 target will depend on the performance of the new CNG variant, the upgraded diesel models and demand across the commercial-use segments identified by the company. The automaker’s next stated product step is the launch of an electric Veero.
