Mahindra Doubles SUV Market Share, Sets Sights on Global Vision 2027

Mahindra & Mahindra is sharpening its growth trajectory in the SUV market with a clear roadmap to 2027, building on a doubling of revenue market share in the last five years and an all-new vehicle architecture.

Rajesh Jejurikar, Executive Director, linked Mahindra’s success to a focus on “authentic SUVs” and a disciplined brand purpose defined in 2020 during the company's customary Independence Day unveil in Mumbai.

In FY21, Mahindra held a 13.2% revenue market share in SUVs. By the latest quarter, that figure had surged to 27.3%, propelled by successive product launches across both traditional and electrified SUVs. “This is a substantial chunk of a market that itself represents 55% of India’s overall passenger vehicle revenue. Our strategy has been to stay true to our brand DNA and deliver vehicles that blend adventure, sophistication, and sustainability,” Jejurikar said.

Mahindra’s approach has rested on a few interlinked principles. Insight has come from recognising the consumer need for exploration and escape as a lifestyle choice. Focus has meant refusing to dilute the brand by straying beyond the SUV core.

“Our products have succeeded because they are designed to be sophisticated and tech-led, yet accessible to customers. That combination has built emotional connect and trust,” Jejurikar noted.

The company’s 2020 brand statement continues to drive its product roadmap. Five pillars remain central to this strategy: turning on design through bold, unmissable presence; delivering spirited performance as power on tap; maintaining top scores on safety; introducing futuristic technology in the present under the philosophy of ‘sci-fi Today’; and shaping SUVs that remain tough yet refined. Jejurikar emphasised that these were not principles created for the day’s presentation but were defined five years ago and continue to guide every new product.

Jejurikar also addressed the critical industry question: has Mahindra exhausted SUV growth opportunities? “The most asked question is whether there are more white spaces. The answer is yes. Our Global Vision 2027 shows there is still significant headroom for growth,” he said. While details of the roadmap were presented by the strategy team, Mahindra signaled confidence in its ability to expand share through a mix of new product entries, electrification, and global ambitions.