Mahindra SML Strategy Aims to Grow Commercial Vehicle Market Share

By Jony Shekhawat | Published Date : April 21, 2026

Mahindra adopts a dual brand approach with SML to expand in commercial vehicles while keeping both identities separate and focusing on steady long-term growth.

Mahindra Group is now trying a different way to grow in the commercial vehicle market. Instead of merging everything into one, the company has decided to run SML Mahindra and its own truck and bus business separately. The idea looks simple but it is quite practical. Both brands will stay different in front of customers, but from inside they will support each other.

Right now Mahindra commercial vehicles are strong in small vehicle space, but in bigger trucks and buses, the company still has space to grow. This new strategy is more about fixing that gap slowly.

Two Brands With Different Identities

Table of Contents

1. Two Brands With Different Identities

2. Focus is on Growth

3. Network Expansion Plan

4. Key Role Of Backend

5. Long Term Plan

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Vinod Sahay clearly said that both brands have their own strength in the market. They serve different type of customers, so there is not much direct competition between them.
Customers will continue to get options from both sides. Over time, company may decide which brand should focus more on which segment, but that decision will not be rushed. For now, SML commercial vehicles and Mahindra trucks will continue in their own space.

Focus on Growth

The main reason behind bringing these two together is growth. Amarjyoti Barua shared that the goal is to become a top-three player in the market. Profit will improve with time, but right now the company is more focused on increasing its market share. After the SML deal in 2025, Mahindra is now aiming to scale up in a bigger way.

The target is quite big. From around 3% share in heavy segment, the company wants to go beyond 20% by FY36. It will not happen fast, but they are planning step by step.

Network Expansion Plan

Service network is one of the first areas where work has already started. Both brands have around 300 touchpoints each, so together it becomes nearly 600. Out of these, 150 service points are selected for cross support. Around 70 are already working, and rest may start soon. This will increase reach to around 450 touchpoints for each brand.

But in the dealership, the company is moving carefully. In cities where both brands already have presence, they don’t want to disturb existing setup. In new areas though, common dealers can be added.

Key Role Of Backend

The real work is happening in the backend. The company is combining sourcing, engineering and manufacturing to reduce cost. There is also a plan for cross badging. If one brand does not have a product, it can use a product of another brand. This helps in filling gaps without spending too much.

SML buses and SML trucks will also get support from Mahindra’s engineering side. This includes engine development and future tech like ADAS. It will help in faster development, which is needed now.

Long Term Plan

Mahindra has made it clear that there is no hurry for big structural changes. No merger or delisting is planned right now. The company wants to take slow but steady steps.
At the same time, cost savings are already visible in sourcing and manufacturing. More benefits may come in future as integration improves.

Overall, this strategy looks balanced. Mahindra Bolero pickups and small vehicles will continue to do well, while SML commercial vehicles will help in growing the bigger segment. It is not a quick plan, but it looks a practical one.

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Frequently Asked Questions on Commercial Vehicles

Q1. What is the mileage of Mahindra commercial vehicles?

Ans. Mileage depends on model and load, but most Mahindra trucks and pickups give around 7 to 12 km per litre in normal driving conditions.

Q2. What is the price range of SML commercial vehicles?

Ans. SML vehicles usually start from around Rs 10 lakh and can go up to Rs 30 lakh or more, depending on the model and configuration.

Q3. What is the loading capacity of Mahindra trucks?

Ans. Mahindra trucks offer a wide range, starting from small pickups with around 1 tonne capacity to heavy trucks carrying several tonnes.

Q4. What types of buses does SML offer?

Ans. SML buses are available in school, staff, and passenger transport categories with different seating capacities and body options.

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