Mahindra & Mahindra plans to introduce five major products across its SUV and light commercial vehicle portfolios by June 2027, including a model based on its new NU_IQ platform and an all-new electric SUV, as the automaker expands manufacturing capacity to sustain sales growth.
The launch programme, scheduled for the first half of calendar year 2027, will also include the previously unveiled Scorpio Lifestyler pickup, an SUV refresh and a new light commercial vehicle.
"We have five big launches that we're expecting in the first half of 2027," Rajesh Jejurikar, Executive Director and CEO, Auto and Farm Sectors at Mahindra & Mahindra, said during the company's Q2 FY27 media interaction on Thursday.
The new products form part of Mahindra's broader strategy to strengthen its position in the SUV market, expand its electric vehicle portfolio and increase its presence in the commercial vehicle segment.
One of the key introductions will be a vehicle developed on the company's NU_IQ architecture, which was unveiled in August 2025. The modular, multi-energy platform has been developed to support multiple vehicle designs and powertrains, including front-wheel-drive and all-wheel-drive configurations. Mahindra showcased four concepts on the architecture, namely Vision.S, Vision.T, Vision.SXT and Vision.X, with production models scheduled to begin arriving in 2027.
However, the company has not disclosed which NU_IQ-based model will be introduced first or provided specifications for the vehicle.
The planned electric SUV launch will further expand Mahindra's battery-electric portfolio, which has seen growing demand following the introduction of its newer electric models.
During Q2 FY27, Mahindra billed 23,345 electric SUVs in the domestic market, accounting for 12.7% of its SUV volumes, compared with an industry electric SUV penetration of 11%.
The automaker held a 23.2% market share of electric SUV volumes and a 30.1% revenue market share during the September quarter, according to its investor presentation. The company has not yet identified the upcoming electric SUV or disclosed its specifications.
The Scorpio Lifestyler, meanwhile, was unveiled in August 2026 as Mahindra's new lifestyle pickup for domestic and international markets. Built on the company's next-generation body-on-frame architecture, the vehicle is scheduled for launch in India by April 2027, with a starting price below ₹19.79 lakh, ex-showroom. The product is intended to combine the utility of a pickup with the comfort and features of an SUV.
Alongside the new SUVs, Mahindra plans to introduce a refreshed model from its existing portfolio and a new light commercial vehicle. The company has not disclosed further details about either product.
The LCV launch comes as Mahindra continues to see strong demand for its pickup and small commercial vehicle range. Sales in the LCV segment below 3.5 tonnes increased 19% year-on-year to approximately 83,000 units during Q2 FY27, while volumes rose 20% to around 1.57 lakh units in the first half. Mahindra retained its leadership in the segment, with a volume market share of 52.3% during the September quarter.
Jejurikar said the company's monthly LCV production capacity of approximately 30,000 units was proving insufficient to meet demand following an increase in volumes.
The planned product introductions are being supported by an expansion in Mahindra's manufacturing capacity. The automaker has completed its first-half capacity targets and expects to increase combined monthly SUV and electric vehicle capacity to 82,000 units by the end of FY27, from approximately 68,000 units at September-end.
The planned capacity will comprise 70,000 internal combustion engine SUVs and 12,000 electric vehicles per month. Of the total, 14,000 units of monthly capacity are earmarked for new product launches planned for FY28.
"We are talking about adding capacity for one NU_IQ platform product and one EV product by the end of March, and we are on track for that," Jejurikar said, referring to the capacity preparations for upcoming models.
Mahindra also plans to create another 10,000 units of monthly NU_IQ capacity at its Chakan facility, taking total operational SUV and EV capacity to approximately 92,000 units per month by the end of FY28.
The company is separately developing a greenfield manufacturing facility in Nagpur, which is expected to contribute around 20,000 units of monthly capacity by the end of the first half of FY30, followed by another 20,000 units by the first half of FY31.
The expansion follows strong growth in Mahindra's SUV business. Sales volumes increased 26% year-on-year to approximately 1.83 lakh units during Q2 FY27, while first-half volumes rose 20% to about 3.58 lakh units.
Mahindra remained the largest SUV manufacturer by revenue market share, with a 24.3% share during the September quarter, according to company estimates.
"We are operating at full capacity or a little more than full capacity, in fact," Jejurikar said, highlighting the demand for the company's existing SUV portfolio.
The automaker maintained its outlook for mid-to-high-teen growth in SUV volumes during FY27, supported by capacity additions and sustained demand. It also expects the domestic LCV industry below 3.5 tonnes to register double-digit growth during the financial year.
In October, Mahindra recorded its highest monthly domestic SUV sales of 73,338 units, up 2% year-on-year, while domestic commercial vehicle sales reached 33,037 units, an increase of 4%, according to its November 1 sales announcement.
The strong automotive performance contrasted with weaker conditions in Mahindra's farm equipment business. The company lowered its FY27 tractor industry growth forecast to broadly flat from its earlier expectation of around 5%, citing deficient rainfall, lower reservoir levels and pressure on farm incomes.
"We are revising our industry outlook. We had been staying with the 5% industry outlook up until now. We are revising that to flattish," Jejurikar said.
Mahindra's tractor volumes declined 6% year-on-year to 1,16,027 units during the September quarter, although first-half volumes increased 7% to 2,74,068 units. Its domestic tractor market share stood at 41.5% in Q2 and 43.4% during H1 FY27.
The company's consolidated farm equipment revenue declined 6% year-on-year to ₹9,572 crore in Q2 FY27, while profit after tax fell 9% to ₹1,053 crore. Farm machinery revenue, including MITRA, increased 5% to ₹345 crore during the quarter.
Despite the farm business slowdown, Mahindra's consolidated profit after tax increased 25% year-on-year to ₹4,588 crore during Q2 FY27, supported by strong automotive performance and contributions from other group businesses.
The automotive business alone reported a 55% increase in consolidated profit after tax to ₹2,388 crore during the quarter.