Mahindra is working on a whole new range of Intermediate Commercial Vehicles for last couple of years. Mahindra Truck and bus division which currently operates only in heavy trucks segment, say 25T and above will now be a full range commercial vehicle player, post the launch of new range. By bridging the current gap, Mahindra will essentially have products from 0.5T all upto 49T catering to most applications in the Indian CV space. Mahindra is expected to launch 15-16 models of ICVs and LCVs altogether.
New ICV Portfolio
The new range will effectively spread between 8T to 16T. ICV segments has one of the highest number of variants in terms of segments and applications. So we may expect tippers, rigid trucks in multiple load body and wheel base options. ICV trucks TIV is around 50,000 nos per annum and Mahindra wants a pie out of it. Out of this 12T and above constituents 50% and the one seen testing is the 13T FSD truck. Products are expected to go on sale by end of FY 18.
The total investment planned is around 700 Crs for the development of all new trucks. Mahindra announced the investment during the roll out of 15,000th truck in 2015. Mahindra is a late entrant into highly crowded ICV segment but has taken time to understand the market and Customer requirements well. The new range of medium and heavy commercial vehicle will be manufactured at the new greenfield plant at Chakan. In the LCV segment, Mahindra Truck and Bus Division has a market share of ~9%, while in the HCV segment it has a share of 2.5%.
New Engine development
Mahindra has a separate entity for engine development, Mahindra Heavy Engines, which makes 7.2 litre diesel engines for heavy commercial vehicles (HCVs). Using the same architecture, Mahindra is working on a 4.8-litre engine for ICV . There will be the 3.5-litre (diesel) engine, which will also be useful. In addition, the existing range of the 3.2 litre engine (used in Mahindra’s Tourister school buses), which is a direct injection engine that also goes into LCV range. So the new engines will be variants of existing engines and platform, with various injection pressures and fuel maps.
Mahindra is known to be working on a shorter version of the current cabin for an LCV. So Mahindra will be able to refresh the LCV, and able to do so completely with improvements in the driveline and chassis. This helps Mahindra to offer a significantly better LCV’s as compared to the older variant, and therefore enables better leveraging the investments.
Mahindra targets is to double the current market share in the CV space in two years and once they become a full range player they will be looking to triple it. Mahindra will be launching a new product, every two-three months starting from the end of this fiscal year.