New Delhi, Oct. 28 -- TVS Motor Co. Ltd, India's third-largest two-wheeler maker, on Tuesday reiterated short- to medium-term concerns over the availability of rare-earth magnets, calling it a key challenge for its electric vehicle (EV) business.

However, it said, while announcing the September quarter results, the recent goods and services tax (GST) rate cut-fully passed on to customers-is expected to have a "multiplier effect", supporting sales growth in the December and March quarters.

In the second quarter of 2024-25, the company's EV sales-e-scooters, e-motorcycles, and e-auto rikshaws-grew by 15% sequentially to 80,000 from 70,000. EV sales stood at 75,000 in the year-ago quarter.

"(Rare-earth) magnet availability continues to po...