Mahindra & Mahindra reported a 26 percent growth in passenger vehicle sales in February 2016, while its overall vehicle sales rose 16 percent for the month.
The Mumbai-based maker of SUVs and tractors sold 23,718 passenger vehicles in February as against 18,817 units sold in February 2015.
However, for the 11-month period ended February 2016, the company's passenger vehicle sales grew by a mere four percent to 209,422 units from 201,785 vehicles in the corresponding period last fiscal.
Overall domestic vehicle sales, including heavy vehicles and three wheelers, stood at 41,348 units for the month, up 18 percent from February 2015, the company said in a regulatory filing on March 1.
Exports fell 15 percent to 2,654 units from 3,112 units.
Meanwhile, the company said that the imposition of infrastructure cess from one to four percent for passenger vehicles announced in the Budget 2016-2017 presented by Finance Minister Arun Jaitley on Monday would "increase the prices of automative products immediately" and added that "an increasing number of duties levied on automobiles is a cause of concern."
Stocks of Mahindra & Mahindra were trading at Rs 1,264.25 at around 3.25 p.m., up 3.05 percent from its previous close.
The Sensex was almost 800 points higher at 23,791.
Hyundai Motor India, the country's second-largest car-maker, sold 40,716 units in domestic sales in February 2016, up about nine percent from 37,305 units sold in the corresponding period last year.
