Mahindra-SML combine targets top-tier commercial vehicle scale by FY36
Mahindra Group’s truck and bus business, combined with SML Mahindra, is set to become India’s fourth-largest commercial vehicle player, with plans to reach 10–12% heavy-CV share by FY31 and exceed 20% by FY36.
Mahindra Group’s merged truck and bus business with SML Mahindra will become India’s fourth-largest CV player, targeting 10-12% heavy-CV share by FY31 and over 20% by FY36 while building leadership in intermediate, light truck and bus segments.
Why this matters
The commercial-vehicle expansion extends Mahindra’s recent execution push, following its ₹15,000-crore Nagpur investment, Growth Gems strategy and record FY26 results.
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