M&M plans expansion in Southeast Asia, boosts presence in South Africa
ECONOMY & POLICY

M&M plans expansion in Southeast Asia, boosts presence in South Africa

Mahindra & Mahindra, which leads India's pick-up truck market with a 51% share, is planning to expand into Southeast Asia and increase its presence in South Africa with its latest Veero range.

According to Veejay Nakra, the president of Mahindra's Automotive division, the company has been selling Scorpio pick-ups in various markets, including established ones like South Africa. Nakra mentioned that the Veero would allow Mahindra to access new markets, such as Southeast Asia, where they currently lack a presence. However, he noted that the company would initially concentrate on the domestic market before moving on to international markets in the subsequent phase.

The Veero, priced at Rs 07.99 million and positioned within the 2-3.5 tonne segment, is designed for intracity applications and competes with Tata Motors' Intra and Ashok Leyland's Dost models.

Mahindra has invested Rs 9 billion in developing what it claims is India's first "modular multi-energy platform" for the Veero. Small pickups constitute about a third of the domestic commercial vehicle market, with Mahindra holding a 40 per cent share. In the large pickup segment, which represents approximately 35 per cent of the market, the company leads with an 80 per cent share. Nakra asserted that each new model launch has significantly boosted market share, citing the Bolero Maxx pick-up launched in 2023 as an example that helped Mahindra gain an additional 8 percentage points in market share.

Mahindra & Mahindra, which leads India's pick-up truck market with a 51% share, is planning to expand into Southeast Asia and increase its presence in South Africa with its latest Veero range. According to Veejay Nakra, the president of Mahindra's Automotive division, the company has been selling Scorpio pick-ups in various markets, including established ones like South Africa. Nakra mentioned that the Veero would allow Mahindra to access new markets, such as Southeast Asia, where they currently lack a presence. However, he noted that the company would initially concentrate on the domestic market before moving on to international markets in the subsequent phase. The Veero, priced at Rs 07.99 million and positioned within the 2-3.5 tonne segment, is designed for intracity applications and competes with Tata Motors' Intra and Ashok Leyland's Dost models. Mahindra has invested Rs 9 billion in developing what it claims is India's first modular multi-energy platform for the Veero. Small pickups constitute about a third of the domestic commercial vehicle market, with Mahindra holding a 40 per cent share. In the large pickup segment, which represents approximately 35 per cent of the market, the company leads with an 80 per cent share. Nakra asserted that each new model launch has significantly boosted market share, citing the Bolero Maxx pick-up launched in 2023 as an example that helped Mahindra gain an additional 8 percentage points in market share.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code