The Yamaha R15 V4 is priced from ₹2,23,634 for the R15 V4 Metallic Red variant. The costs for the remaining variants—R15 V4 Dark Knight, R15 V4 Racing Blue – Intensity White – Vivid Magenta Metallic, R15 V4 M – MotoGP Edition, R15 V4 M, and R15 V4 M – Carbon Fibre—are ₹2,24,742, ₹2,29,173, ₹2,38,599, ₹2,41,570, and ₹2,50,497, respectively. These listed prices are the on-road costs in Delhi.

The Yamaha R15 V4 is a performance-oriented motorcycle available in six models and eight colors. It is powered by a 155cc BS6-compliant engine, which produces 18.1 bhp of power and 14.2 Nm of torque. The bike features disc brakes at both the front and rear, along with an anti-lock braking system (ABS) for enhanced safety. The R15 V4 weighs 141 kg and offers a fuel tank capacity of 11 liters.

For 2023, Yamaha Motor India introduced updates to the YZF-R15 lineup. The standard variant now features a refreshed color palette, while the M version gains additional features.

The YZF-R15M now boasts a color TFT display, replacing the previous LCD screen. This new display, similar to the earlier model, benefits from Bluetooth connectivity and integrates with a dedicated mobile app. The app provides features like incoming call alerts, SMS and email notifications, battery level information, and helps track fuel efficiency, maintenance reminders, last parked location, and fault notifications.

The M variant also includes LED turn indicators and retains several premium features such as a bi-functional LED headlight, twin-LED DRLs, LED taillight, Variable Valve Actuation (VVA), assist and slipper clutch, traction control system, two riding modes (Track and Street), dual-channel ABS, and a quick-shifter (for upshifts only). The standard model continues with an LCD console and halogen turn signals, with the quick-shifter available as an accessory on certain color options (Dark Knight and Metallic Red).

Mechanically, the 2023 Yamaha YZF-R15 retains the same 155cc, single-cylinder, liquid-cooled, SOHC, four-valve, fuel-injected engine with the VVA system from the previous version. However, it now comes equipped with OBD-II diagnostics, which monitors emissions in real-time. The engine is mated to a six-speed gearbox, producing 18.1bhp at 10,000 rpm and 14.2Nm of torque at 7,500 rpm.

The styling remains consistent with its predecessor, featuring a modern design with a full-fairing, fairing-mounted rear-view mirrors, clip-on handlebars, a split-type seat, a side-slung exhaust, and 17-inch alloy wheels at both ends. The 2023 YZF-R15M is available in a single color option, Metallic Grey, while the standard YZF-R15 offers three color schemes: Metallic Red, Racing Blue, and the newly introduced Dark Knight.

The hardware is unchanged, with the motorcycle using a Deltabox frame and a 37mm upside-down fork at the front and a rear mono-shock. The braking setup consists of a 282mm front disc and a 220mm rear disc, while the safety package includes dual-channel ABS and the traction control system. The 17-inch alloy wheels are wrapped in 100/80-section front tires and 140/70-section rear tires, with the rear tire being radial.