Comparing Yamaha MT-03 and MT-15 V2: Which One to Choose?

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Yamaha has unofficially opened bookings for the R3 and MT-03 in select dealerships across India, with a launch expected in June or July 2023. This means that the MT-15 V2 will finally get a big brother, but what sets the MT-badged siblings apart? Let’s take a closer look.

Engine and Performance Between MT-03 & MT-15 V2

MT-15 V2

The biggest difference between the two bikes is the engine. The MT 15 V2 uses the 155cc liquid-cooled single-cylinder VVA-equipped engine from the R15 V4, making 18.4PS and 14.1Nm. Meanwhile, the MT-03 is powered by the 321cc liquid-cooled twin-cylinder motor shared with the R3, producing 42PS and 29.6Nm. Both bikes come with a six-speed gearbox with a slip-and-assist clutch.


Both bikes have a hunkered-down stance with a projector headlight and eyebrow-shaped DRLs. However, the MT 15 has slightly more pronounced headlight surrounds. While both bikes have a muscular design, the MT 15 V2’s compact dimensions make the MT-03 look larger. The tank extensions and radiator shrouds around the tanks are also designed differently, with the MT 15 having a more cohesive design. The alloy wheel design is also different. LED indicators are standard on the MT-03 and available on all but the Metallic Black color variant of the MT 15.

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Underpinnings and Mechanicals

MT-15 V2

Both bikes have the same basic architecture, with the MT-03 having a diamond frame and the MT 15 a deltabox frame. They both feature 37mm USD forks and linked monoshocks. The monoshock on the MT-03 offers preload and rebound adjustment, which is missing on the MT 15. Both bikes come with a 110-section front and 140-section rear tire, with disc brakes and dual-channel ABS. The MT-03 has a larger 298mm front disc compared to the MT 15’s 282mm disc, but both have the same 220mm rear disc.

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Both bikes have dual-channel ABS, but the V2 also has traction control, which is missing on the MT-03. While both bikes have an LCD console, the MT 15 V2’s negatively lit unit has smartphone connectivity, with a dedicated app for service and maintenance alerts and post-ride stats. The MT-03 does not have any connectivity features.

Price and Availability

The MT 15 V2 is already available in India, priced between Rs 1,64,900 and 1,68,900 (ex-showroom Delhi). The MT-03 is set to launch in June or July 2023 and could be priced at around Rs 3.8 lakh. If Yamaha manages to price it competitively, it could be an attractive option for current MT 15 owners looking to upgrade within the Yamaha family.

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