Mumbai-headquartered automotive major Mahindra & Mahindra has announced an ambitious growth plan for its commercial vehicle (CV) business, thanks to the recent strategic acquisition of a majority stake in SML Isuzu. The company aims to leverage this acquisition to accelerate its ‘Deliver Scale’ strategy across segments where it believes it has a strong ‘right to win.’

Dr Anish Shah, Managing Director and CEO, Mahindra Group, emphasised that the group’s disciplined focus on capital allocation remains intact. "We have seen significant growth across several businesses, and now, as we enter our third phase, the focus is on delivering scale," he said.

Shah also noted that Mahindra has turned around its CV business, once under scrutiny five years ago, and sees the acquisition of SML Isuzu as a strategic opportunity to cement its position further.

Today, Mahindra is the market leader in SUVs with a 23 percent market share and ranks fifth in the CV segment above 3.5 tonnes with a 3 percent share. Through the acquisition, Mahindra aims to become a more formidable player in the CV space.

"We are targeting a combined market share of 10-12 percent by FY2031 and over 20 percent by FY2036," said Rajesh Jejurikar, Executive Director and CEO – Auto and Farm Sectors, Mahindra & Mahindra. He acknowledged that Mahindra’s CV share, which stood at around 4-5 percent in FY2020, had dropped due to the impact of Covid-19. However, with renewed focus, especially in the LCV and ILCV segments, Mahindra is planning an aggressive recovery.

SML Isuzu brings strength in the intermediate LCV bus segment, holding a 16 percent market share. Mahindra expects that, combined, they could command a 21 percent share. "The synergies are substantial across cost structures, platforms, aggregates, supplier networks, and operations," Jejurikar added.

Growth, Not Cost-Cutting

Mahindra leaders were clear that the SML Isuzu acquisition is not about cost-cutting, but about building scale. "This deal is about growth, not about taking costs out," stressed Amarjyoti Barua, Chief Financial Officer, Mahindra Group. He highlighted that SML Isuzu will remain a separately listed entity and that Mahindra has no plans to rebrand it under the Swaraj name, even though it sees potential for the Swaraj brand in certain export markets.

Financially, Mahindra believes the deal makes strategic sense. Shah pointed out that the SML Isuzu business will be self-sustaining in generating cash for future investments.

The company sees SML Isuzu's operations as a ‘well-run and frugal factory,’ with most future investments primarily required to ramp up capacity.

Vinod Sahay, President - Aerospace & Defence, Trucks, Buses & CE, Mahindra, underlined how the product portfolios of Mahindra and SML Isuzu complement each other. SML Isuzu, for instance, is at an advanced stage in developing electric buses for school, staff and executive coach applications, an area where Mahindra's electrification expertise can add substantial value.

Sahay further highlighted how combining Mahindra and SML Isuzu’s supplier ecosystems will strengthen bargaining power, especially in critical areas like tyres, batteries and key aggregates. While Mahindra boasts strong sourcing power in tyres and batteries, SML Isuzu has an edge in CV parts.

Product synergy is another opportunity. SML’s strong CNG product line and Mahindra’s newer Furio and Cruzio models – offering 8-10 percent better fuel efficiency – will allow the combined business to offer compelling choices to customers across the LCV, ILCV and M&HCV categories.

With over 200 dealers and 400 touchpoints between them, Mahindra plans to optimise and expand network coverage for a wider reach.

While Mahindra is bullish on growth, Shah made it clear that there are no immediate plans for further acquisitions. "Now the business must prove itself," he said, reiterating the company’s strategic belief in building businesses that have a clear right to win, strong financial metrics and differentiated products.

Looking ahead, Mahindra is betting that a stable yet evolving CV market – especially in buses and light trucks, which the management stated will provide the runway needed for long-term growth, as the group consolidates its position as a dominant player across automotive categories.

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Scania Commercial Vehicles India has appointed GMMCO, part of the CKA Birla Group, as its new authorised dealer partner for Northern, Eastern and Central India. This marks a major milestone in Scania's renewed India growth strategy, shifting the company from a direct sales model to a fully dealer-driven ecosystem.

As per the understanding, GMMCO will be responsible for sales and service support for projects across its designated regions. This arrangement complements the existing partnership with PPS Motors, which continues to represent Scania in the Southern and Western territories, ensuring seamless national coverage.

Under the new model, Scania will concentrate on product planning, innovation and lead generation, while its dealers will manage sales, service, aftermarket operations and inventory independently.

Silvio Munhoz, Managing Director, Scania Commercial Vehicles India, said, “The appointment of GMMCO marks an important step in Scania’s India growth journey. GMMCO’s strong industry presence, wide service network and customer-first philosophy make them an ideal partner as we expand into new markets and business areas. This partnership reinforces our long-term vision for India and lays a solid foundation for our next phase of growth, driven by the Scania Super range and our focus on sustainable transport solutions.”

Scania aims to accelerate its global strategy of delivering complete solutions rather than just products. This solution-based approach includes application-specific product selection, tailored service packages and customised financial solutions.

Chandrashekar V, Managing Director & CEO, GMMCO, said, “We are delighted to partner with Scania, a global leader synonymous with innovation, performance and sustainability. This collaboration reflects GMMCO’s commitment to delivering comprehensive, technology-driven solutions that empower our customers across sectors. With our deep industry reach, strong service infrastructure and relentless focus on operational excellence, we are confident of driving Scania’s next phase of growth in India and creating exceptional value for our shared customers."

The expanded dealer network will cater to business segments including construction, long haulage, mining and special applications.

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Montra Electric, the clean mobility arm of the Murugappa Group, has expanded its retail presence in India with the opening of two electric Small Commercial Vehicle (e-SCV) dealerships in Bhiwandi and Panvel.

The new outlets, which operate in the Mumbai Metropolitan Region (MMR), are operated by retail partner Autobahn VoltiGo. The dealerships will offer the Montra Electric EViator, an e-SCV designed for intercity and intracity cargo transport. The vehicle aims to offer efficiency, high uptime and a low total cost of ownership for fleet and logistics operators.

Saju Nair, CEO, Montra Electric e-SCV, (TI Clean Mobility), said, “The EViator is built to deliver power, range, and performance that match the real-world needs of India’s logistics ecosystem. With partners like Autobahn VoltiGo, we’re ensuring that customers in key commercial hubs such as Bhiwandi and Panvel get access to future-ready EV solutions backed by strong service and uptime support.”

Farzad, Managing Director, Autobahn Trucking Corporation, said, “At Autobahn, our purpose is to move our customers’ businesses forward through innovation, trust and performance. Partnering with Montra Electric extends that commitment into the clean mobility space. After successfully establishing Montra Electric operations in Kerala and Pune, we are now expanding to Mumbai at Bhiwandi and Panvel, bringing customers a seamless ownership experience built on accessibility, uptime and service excellence.”

The EViator offers a certified range of 245 km and a real-world range of over 170 km. It features an 80kW motor that delivers 300 Nm of torque and includes telematics to ensure over 95 percent uptime. The e-SCV is supported by a seven year or 250,000 km extended warranty.

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Tata Motors Commercial Vehicles has showcased its range of Euro 6-compliant trucks and buses tailored for the Middle East and North Africa (MENA) region, marking its largest regional unveiling.

The new range reflects the company’s ‘Better Always’ philosophy and is designed to support the region’s transition to cleaner mobility. The vehicles, built for cargo and passenger transport, were engineered and tested across demanding terrains to deliver comfort, operational efficiency and enhanced safety.

Asif Shamim, Head – International Business, Tata Motors Commercial Vehicles, said, “As the MENA region continues to advance its economic diversification and infrastructure ambitions, there is a growing demand for smarter, efficient and advanced mobility solutions. Tata Motors Commercial Vehicles has been a trusted partner in this journey for about six decades, and the latest range of trucks and buses reflect our long-term commitment to stay ahead of the curve. This comprehensive line-up is engineered to deliver superior performance and reliability, enabling our customers to run businesses efficiently. We are confident that these offerings will set new benchmarks and further strengthen our role in shaping the region’s evolving mobility landscape.”

The showcased models include a spectrum of mobility solutions:

Passenger Mobility Solutions:

• LPO 1622: Available in 11-metre and 12-metre lengths, featuring a Cummins engine, ABS with Electronic Stability Control and cruise control.
• Starbus Prime LP 716: A 28-seater bus with a new-gen 3.3-litre engine, built for school and staff transport, including ABS, ESC and Hill Start Assist.
• Ultra LPO 916: A 33-seater bus offering fuel-efficiency and reliability.

Cargo Mobility Solutions:

• Ultra Range: Built on Tata Motors’ smart truck platform, available from 7-9 tonnes configuration, suitable for intra-city logistics.
• Prima 3430.T: Powered by the 6.7-litre Cummins engine generating 300 HP of power and 1100 Nm of torque, ideal for long-haul operations.
• Prima 3330.K: A tipper designed for productivity in construction and mining operations.

Tata Motors offers a commercial vehicle portfolio in over 40 countries. The company also offers regional support with over 100 strategically located service centres, extended warranty options and Annual Maintenance Contracts (AMC).

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IVECO BUS has won Lot 1 of Italy’s latest Consip tender to supply natural gas-powered minibuses to Italy. The award covers 80 DAILY CNG minibuses: 30 urban (Class I) and 50 interurban (Class II) vehicles.

The model selected is the Daily 70C14 CNG with Indcar body, chosen for its operational capability and low environmental effect.

The 80 minibuses include an 8-speed automatic gearbox, rear air suspension and methane tanks for range. A separate driver’s cab aids safety. All vehicles meet current safety rules and feature advanced driver assistance systems (ADAS), a fire suppression system, a TPMS tyre pressure monitoring system, route indicators, an AVM system, CCTV cameras and a passenger counting system.

Giorgio ZINO, Head of IVECO BUS Commercial Operations in Europe, said, “Being awarded this important Consip tender confirms the relevance and reliability of our offering, particularly in the methane-powered vehicle segment, where we have solid experience. The DAILY CNG minibuses represent a concrete and effective solution to support the ecological transition of public transport, combining environmental sustainability, safety, and comfort. We are proud to actively contribute to a more responsible mobility model that serves local communities.”

The Urban Models (Class I) minibuses can accommodate 14 seated passengers, 14 standing passengers and a space for wheelchair users, accessible via a manual ramp. Seats are monocoque to resist vandalism.

On the other hand, the Interurban Models (Class II) offer 22 seated places, 5 standing places and a space for passengers with reduced mobility, also with a manual ramp. Seats are fabric-upholstered and include hand grips.

The company shared that the compact size and level of customisation make the Daily CNG vehicles useful for both urban and interurban operation, supporting comfort, safety and operational effectiveness.

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