Mahindra & Mahindra sales soar 16% in February

Mahindra & Mahindra today reported 15.7% increase in total sales to 44,002 units in February as against 38,030 units sold in the same month of last year.

In the domestic market, sales were up 18.41% at 41,348 units last month compared with 34,918 units in February 2015, M&M said in a statement

Exports, however, declined by 14.71% to 2,654 units last month as against 3,112 units in February last year, it added.

Sales of passenger vehicles, including Scorpio, XUV 500, Xylo, Bolero and Verito, was up 26.99% at 22,612 units compared with 17,805 units in February 2015.

Commercial vehicle sales surged 16% to 13,864 units last month as against 11,945 units in the year-ago period, M&M said.

M&M Chief Executive (automotive division) Pravin Shah said the growth has been on the back of the company's range of passenger and commercial vehicles.

"The imposition of an infrastructure cess of 1% to 4% for passenger vehicles as announced in the Union Budget would increase the prices of automotive products immediately," Shah said.

He further said: "An increasing number of duties levied on automobiles is a cause of concern and we see the need for GST sooner than later.

"However, we need to take positively, in view of the strong emphasis laid on rural, agriculture and infrastructure plans for sound, sustainable and inclusive growth in the economy and to spur the much needed demand.