Mahindra Eyes Over 50% Share In Small Pickups In Fy27; Electric Veero Coming Soon: Executive

Mahindra & Mahindra is targeting more than 50% 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% 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% mark in FY27.

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

"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," 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 ₹8.25 lakh and ₹8.55 lakh, while the diesel range is priced between ₹8.29 lakh and ₹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.