Mahindra Continues To Lead India's Pickup Truck Segment
Modified On Nov 15, 2022 10:28 AM
Commands over 60% market share in this high volume, fast-growing category of last-mile cargo vehicles.
In the overall commercial vehicle segment in India, small commercial vehicles (less than 3.5-tonne GVW) are one of the top categories that have been registering consistent growth for several years now. The factors that are driving the demand for these vehicles comprising mini-trucks and pickups are many- including overall rising consumption across cities and towns, the boom in e-commerce, expanding suburban areas, and the need to reach customers' doorsteps quickly and fast.
And over the year this segment has been witnessing strong double-digit growth which brings a spotlight on this high-volume category, and thus to grab a pie of this promising segment the competition has been quite fierce. The pickup (2-3.5-tonne GVW) category has some of the most popular brands catering to the needs of the customers with a promise of superior mileage, high payload, comfort, safety, and durability.
And top brands including Mahindra, Tata, and Ashok Leyland are aggressively outbidding each other in offering the best product in the pickup category. Ashok Leyland Dost range, Tata Motors Yodha, and Mahindra Bolero pickups are the prominent brands in the category that now leads the market in the overall pickup segment.
Bolero Leads The Pack
Mahindra is one brand that identified the pickup market early on taking on market leader Tata Motors, and today virtually dominates this critical category with a wide margin. The firm has got leadership positions due to its highly popular and strong brand of pickups- The Bolero Range. Mahindra Bolero is synonymous with the Indian pickup segment both in the urban and rural markets, and for years now, Bolero rules the routes of this popular category with significant leads over rivals.
Despite intense competition, and aggressive rivals, it appears customers remain in favor of Mahindra Bolero pikup, and the brand is getting stronger by the day. Not only the new Bolero pickups are in demand but there is a high premium in the used segment too, giving an enviable position to the brand.
High Market Share
In the first six months (April-September’22) of the fiscal year 2023, a total of 1,61,599 units of the pickup were sold in India, up by 62.3 percent, emerging as the top category in the overall small commercial vehicle segment. And in this category Mahindra sold 97,260 units comprising a range of Bolero pickups, cornering over 60% market share.
Tata Motors, with its Yodha range of pickups, comes a distant second with a total sale of 32,730 units with a market share of 20.2% in the overall pickup segment. Ashok Leyland is the third largest player in the category with its popular Dost range of mini trucks, quite close to Tata Motors with a volume of 30,382 units sold in the same period with nearly 18.8% market share. Isuzu Motors India which sells the D-Max range of pickups in the category ranks number 4 with a volume of 641 units, followed by Toyota’s Hilux of 457 units in the same period.
Mahindra Bolero Pickups are way ahead in the category, and several key factors make this vehicle the most preferred choice for fleet operators, transport entrepreneurs, and logistics companies. This includes the reliability of Bolero pickups, affordable price tag, variants across payloads, fuel options and cabin choices, and the versatility to navigate urban and rural roads along with lower maintenance and higher earning capability.