GWM Steed vs Mahindra Pik Up
Value retention, real cost and monthly money, compared on the same 2026 South African data.
The Mahindra Pik Up wins on money kept: 70% retained after three years vs 65%, worth about R 5 764 at trade-in time.
Both curves, one chart
Head to head
| Steed | Pik Up | |
|---|---|---|
| New price (from) | R 307 950 | R 279 999 |
| ±Monthly instalment | R 5 382/m | R 4 894/m |
| Retained after 1 year | 81% | 84% |
| Retained after 3 years | 65% | 70% |
| Value after 3 years | R 200 711 | R 194 947 |
| Lost to depreciation (3y) | R 107 239 | R 85 052 |
| Value after 5 years | R 158 841 | R 158 552 |
| Our tier | Chinese (established) | 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 Pik Up →
Few bakkies offer as much metal for the money as the Pik Up, on sale here since 2006 as the Scorpio Pik Up before the shorter name arrived with the 2017 update. It is regularly South Africa's best-selling Indian vehicle and undercuts a comparable Hilux or Ranger by a wide margin. Resale has firmed up as the dealer network and parts supply have grown.
Known for: most affordable proper one-ton bakkie
Common questions
Which holds value better, the GWM Steed or the Mahindra Pik Up?
The Mahindra Pik Up. It keeps about 70% of its price after three years against 65% for the GWM Steed, a gap of 4 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 Pik Up loses about R 85 052. 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 Pik Up about R 4 894, before fees and insurance.
Keep going
Modelled estimates on a retail basis; spec levels and real transaction prices vary.