Mumbai, March 1, 2013: Mahindra & Mahindra (M&M), which is among the OEMs most affected by the Union Budget 2013-14’s three percent hike in excise duties on SUVs (from 27 to 30 percent), has announced an 11 percent growth in its total auto sales of 47,824 units during February 2013 as against 43,087 units in February 2012.

The passenger vehicles segment (which includes UVs and the Verito) posted growth of 14 percent, having sold 23,421 units in February 2013, as against 20,573 units during February 2012.The company’s domestic sales stood at 44,399 units during February 2013, as against 40,461 units during February 2012, an increase of 10 percent.

Meanwhile, M&M’s 4-wheeler commercial segment which includes passenger and load vehicles registered a sale of 15,167 units, while the 3-wheeler segment sold 4,803 units in February 2013. Exports in February 2013 stood at 3,425 units.

Commenting on the Budget, Pravin Shah, chief executive, Automotive Division, said: “Levying a 3 percent higher duty on SUVs on the basis of higher ground clearance is disappointing as it slows down further growth and does not provide equal competitive space to all players.”