Mahindra & Mahindra (M&M) has announced that its Passenger Vehicles segment (which includes UVs, cars and vans) sold 23,718 units in February 2016 as against 18,817 units during February 2015, a growth of 26 percent.
The overall auto sales for the company stood at stood at 44,002 units during February 2016 as against 38,030 units during February 2015, representing a growth of 16%.
Of the total numbers, domestic sales included 41,348 units for February 2016 as against 34,918 units during February 2015. In February 2016, the Medium and Heavy Commercial Vehicles (M&HCV) segment sold 479 units, registering a growth of 47%. While, exports for the month stood at 2,654 units.
Speaking on the auto sales performance for February 2016, Pravin Shah, president & chief executive (Automotive), M&M said, “At Mahindra we are happy to have achieved an overall growth of 16% during February 2016 on the back of strong performance by our 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 prices of automotive products immediately. 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 it positively, in view of the strong emphasis laid on rural, agri and infrastructure plans for sound, sustainable and inclusive growth in the economy and to spur the much needed demand."