Mahindra Targets 1.6X Expansion in Light Commercial Vehicle Segment by 2030

By Amit Jangra | Published Date : November 25, 2025

Mahindra plans to grow its light commercial vehicle segment 1.6X by 2030, leveraging strong demand for trucks, pickups and mini trucks across urban and rural areas.

The company, Mahindra and Mahindra, wants to grow its light commercial vehicles strongly, targeting 1.6X growth by 2030. They believe that the LCV market is expanding faster than the general auto industry and will be a major driver for their future business. With increasing demand for Mahindra trucks, Mahindra pickups and Mahindra mini trucks, the company expects steady growth in the coming years.

1. LCV Market Showing Big Growth Signs

Table of Contents

1. LCV Market Showing Big Growth Signs

2. Mahindra’s Strong Market Position

3. New Launches Helping Mahindra Grow Faster

4. Why Mahindra Thinks the Opportunity Is Big

Conclusion

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Mahindra & Mahindra has shared during its investor call that the company is expecting very strong growth in the light commercial vehicle segment under 3.5 tonnes. As per M&M, the LCV market might grow almost 1.6 times between FY2025 and FY2030, which is honestly a pretty big jump for this category. Mahindra believes this segment is becoming a major driver for its long-term business plans. Also, the company said this market is growing faster than the overall auto industry and that gives them even more confidence to push harder. With demand rising for Mahindra trucks, Mahindra pickups and Mahindra mini trucks, the company feels the coming years will be very positive for them.

2. Mahindra’s Strong Market Position

Right now, Mahindra holds more than 50% market share in the LCV segment as of Q1 FY2025, which is already a strong base for any expansion plan. The company also has a target to secure 50% share in the small pickup category, where Mahindra pickups are already very common on Indian roads. Another big target is the 60% share in the CNG-powered 2–3.5-tonne space. This clearly shows that the company is pushing more towards cleaner and more economical fuel choices. These goals reflect that Mahindra want to keep its lead in the LCV category and doesn’t want other brands catching up anytime soon.

3. New Launches Helping Mahindra Grow Faster

To support its growth plans, Mahindra launched the Mahindra Veero in September 2024. After that, the company introduced the Veero CNG and the MAXX HD 1.9T CNG in January 2025. These new vehicles are made to give customers better power and mileage, along with more comfort which many small business owners look for. With rising demand for CNG and even electric trucks in some regions, these new launches help Mahindra offer more choices to buyers. These vehicles also show how the company is slowly shifting towards multi-fuel options instead of depending only on diesel.

4. Why Mahindra Thinks the Opportunity Is Big

India’s rapid infrastructure development and GST reforms have made running LCVs cheaper and more profitable. As a result, more buyers are going for Mahindra trucks and mini trucks. Mahindra’s wide rural reach, covering 80% of villages and towns, helps the company reach customers in many different regions and terrains. Rural demand is rising fast and Mahindra already has the network to use this opportunity fully.

Conclusion

Overall, Mahindra’s plan for the future is focused on low ownership cost, full segment coverage and multiple fuel choices like diesel, CNG and electric trucks. With its good market position, fresh launches and rising customer demand, Mahindra believes it can achieve the 1.6 times growth target by 2030. If things keep moving this way, the company will continue to be a top player in the LCV market for a long time.

Also Read: Aurora’s Autonomous Trucks Cover 1,200 Miles on Texas Roads

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Frequently Asked Questions Commercial Vehicles

1: What is Mahindra’s growth target for LCVs?

Ans: Mahindra aims to grow its light commercial vehicle segment 1.6 times by 2030.

2: Which Mahindra vehicles are part of this plan?

Ans: Mahindra trucks, Mahindra pickups and Mahindra mini trucks are included in the expansion strategy.

3: How does rural reach help Mahindra?

Ans: With 80% rural coverage, Mahindra can serve customers in different regions and terrains, boosting sales.

4: What new launches support this growth?

Ans: Mahindra Veero, Veero CNG and MAXX HD 1.9T CNG help provide better power, fuel efficiency and comfort to customers.

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