GWM Steed vs Mahindra Bolero
Value retention, real cost and monthly money, compared on the same 2026 South African data.
The GWM Steed wins on money kept: 65% retained after three years vs 63%, worth about R 66 387 at trade-in time.
Both curves, one chart
Head to head
| Steed | Bolero | |
|---|---|---|
| New price (from) | R 307 950 | R 212 999 |
| ±Monthly instalment | R 5 382/m | R 3 723/m |
| Retained after 1 year | 81% | 80% |
| Retained after 3 years | 65% | 63% |
| Value after 3 years | R 200 711 | R 134 324 |
| Lost to depreciation (3y) | R 107 239 | R 78 675 |
| Value after 5 years | R 158 841 | R 106 348 |
| Our tier | Chinese (established) | Weak-franchise mainstream |
GWM Steed →
GWM's bakkie stalwart has been on sale in SA in various forms since 2007, spanning Steed 3, 5, 5E and 6 versions. Today only the Steed 5 workhorse remains, one of the cheapest one-ton bakkies you can buy new. Small businesses buy it on price, though resale lags the established Japanese options.
Known for: long-running budget workhorse bakkie
Mahindra Bolero →
Mahindra's first model in South Africa, on sale since 2004, the Bolero survives as a no-frills single cab workhorse for farms and small businesses. Buyers get a simple diesel bakkie at a price no established rival can match. Trade-in values are modest, so it suits owners who run their vehicles into the ground.
Known for: bare-bones farm workhorse at rock-bottom price
Common questions
Which holds value better, the GWM Steed or the Mahindra Bolero?
The GWM Steed. It keeps about 65% of its price after three years against 63% for the Mahindra Bolero, a gap of 2 points.
Which is cheaper to own over three years?
Depreciation is the biggest ownership cost. The GWM Steed loses about R 107 239 over three years and the Mahindra Bolero loses about R 78 675. Fuel, insurance and servicing can narrow or widen that, but the depreciation gap is the number to start from.
What do they cost per month?
On typical finance (10% deposit, 72 months, 11.75%), the GWM Steed runs about R 5 382 per month and the Mahindra Bolero about R 3 723, before fees and insurance.
Keep going
Modelled estimates on a retail basis; spec levels and real transaction prices vary.