Mahindra targets over 50% small pickup market share in FY27 with expanded Veero range

Mahindra & Mahindra (M&M) is targeting more than 50% market share in India’s small pickup segment in FY27, banking on the expanded Veero range, including its new 1.1-tonne CNG variant, to regain momentum.

The homegrown automaker currently has a 46% year-to-date market share through July, compared with 49.1% in FY26, according to Velusamy R, President, Automotive Business, Mahindra & Mahindra.

“In the small pickup segment in FY26, we were at 49.1%, while in FY27 we are at 46%. In the short term, Veero is expected to help Mahindra gain momentum and cross 50% market share in FY27 once we launch this 1.1-tonne CNG,” Velusamy told PTI.

Mahindra on Tuesday expanded the Veero portfolio with the 1.1-tonne XXL CNG and an upgraded diesel range. The CNG version is priced at ₹8.25 lakh for the V2 and ₹8.55 lakh for the V4, while the upgraded diesel range starts at ₹8.29 lakh and goes up to ₹9.45 lakh, all ex-showroom.

New CNG Veero targets intra-city logistics

The new Veero 1.1 XXL CNG combines a 1.1-tonne payload with a 2,900 mm (9.5-foot) cargo deck and a 5.1-metre turning radius. It uses a 1.5-litre naturally aspirated engine producing 48.5 kW of power and 98 Nm of torque.

Mahindra claims an ARAI-certified fuel efficiency of 21.4 km/kg, with a combined petrol-CNG driving range of more than 450 km. The vehicle is aimed at FMCG distribution, e-commerce, courier and parcel movement, fruits and vegetables, market loads and other intra-city applications. Customer availability is scheduled from September 20.

Diesel range gets tech and connectivity upgrades

The upgraded Veero diesel gets a 26.03-cm touchscreen with Android Auto, Apple CarPlay and voice commands in multiple languages, along with cruise control and LNT technology. Power windows and fast-charging ports will now be standard across variants.

Mahindra has also added remote AC control to its iMAXX-connected platform, which offers more than 50 features, including vehicle tracking, geofencing, route planning, vehicle-health monitoring and fuel tracking.

EV version coming soon

Velusamy said Mahindra will “very soon” launch an electric version of the Veero, underscoring the company’s multi-energy strategy for the platform.

The company expects growth in the small-pickup market from e-commerce and quick-commerce deliveries, FMCG, construction, agriculture and replacement demand. Velusamy said Mahindra was seeing “tremendous pull” for pickup products in August across both the below-2-tonne and 2-3.5-tonne categories.

The Veero was first launched in September 2024 on Mahindra’s Urban Prosper Platform, described by the company as a ground-up, multi-energy modular commercial-vehicle architecture. (With inputs from PTI)