- 17 Sep 2024
- ICICI Securities
M&M EXPANDS LCV RANGE WITH NEW LAUNCH
News: Mahindra & Mahindra has launched the All-New Veero, a revolutionary light commercial vehicle (LCV) in the sub-3.5-ton segment, starting at ₹7.99 lakh. Built on the Urban Prosper Platform, the Veero offers a best-in-class payload capacity of 1,600 kg and exceptional fuel efficiency, with diesel variants achieving 18.4 km/l and CNG variants 19.2 km/kg. It features a premium cabin equipped with a 10.25-inch touchscreen infotainment system, power windows, and advanced safety measures including a driver airbag and reverse parking camera.
Views: M&M has a market share of ~ 51% in <3.5 tonne LCV segment. The company has invested ~900 crore for Diesel and CNG variants and also gave a hint for electric variant. The company believes to be in a good position for festive season and the new launch will further help pick up total sales volume in commercial vehicles. It has previously outlined 7 new product launches in the LCV space (5 ICE+2EV) and this launch is in tandem with that guidance and bodes well for the company.
Impact: Positive