Yamaha’s allure encompasses both motorcyclists and musicians, intertwining them like a delicate thread connecting musical notes. It’s a bit of an exaggeration, but its Indian voyage mirrors the progression of a symphony—starting gently, rising to a crescendo, and occasionally causing moments of confusion along the way.

Exploring Yamaha’s narrative is akin to peeling back the layers of an orchestra’s performance. Through insights shared by Yamaha Motor India Group Of Companies Chairman, Eishin Chihana, we aim to decipher what this melody holds for the world’s largest-growing two-wheeler market.

Allegro – Early Days

In 1985, Yamaha Motor entered the Indian market, partnering with Escorts Kubota Limited. Their first product, the ‘Rajdoot 350,’ was an adaptation of the Japanese RD350B, redesigned for India. This model aimed to mimic the RD 350’s 1970s success in Japan.

Despite the RD350’s discontinuation in Japan by the mid-1970s due to emissions norms, its introduction in India in 1983 marked a technological breakthrough. It featured a 7-port two-stroke parallel-twin engine, Yamaha’s Torque Induction System, and a 6-speed transmission, achieving 0 to 60kmph in less than four seconds.

“I perceive this bike as remarkably ahead of its time, delivering a performance that most riders weren’t prepared for,” says Karan Ramgopal, a professional motorcyclist and automotive journalist associated with EVO India. Such is the cult status of the RD350 even to date that Ramgopal wishes he “could have experienced it firsthand when it was readily available. If I had the chance to own one, I’d likely take the classic route, perhaps crafting a splendid neo-retro cafe racer.”

However, the RD350 struggled to resonate due to high fuel consumption, purchase price, limited spare parts, and a shortage of service personnel. Consequently, after five years, the Rajdoot 350 ceased in 1990. Yet, the RD350 has evolved into a cult phenomenon in India, sought after like rare treasures. Chihana keeps an eye on Japanese listings, hoping to acquire one.

Adagio or Andante – Getting Into The Groove

Following the Rajdoot 350 setback, Yamaha faced a rough transition, prompting company leaders to contemplate their strategy. This was compounded by the success of the Suzuki AX 100, indicating a preference for smaller-capacity motorcycles in that era.

Yamaha’s response? The introduction of the Yamaha RX 100 in 1985, a variant of the RX-S 115 (not the RX100 or RS100DX as commonly believed), was brought in through a partnership with the Escorts Group. Praised for its lightweight body, power output, and simpler construction, the RX 100 became an instant hit.

Since then, it has remained cherished among Indian motorcyclists, commanding prices ten times their original value. Praveen from ZigWheels and BikeDekho: “My earliest memories of the Yamaha RX100 date back to the 90s, spotting it frequently on the roads. Its iconic exhaust note has aged beautifully, akin to fine wine, I must say!”

Its enduring fame even perplexes Chihana. He remembers a memorable Chennai morning on India’s 75th Independence Day when a newspaper listed four major milestones, “that inspired young Indians.” he recalls, “While I can’t recall the first two, the fourth showcased the space rocket launch by ISRO, and the third featured the Yamaha RX 100, which was very surprising”

Scherzo – Hitting The Floor

Yamaha, in the early 2000s, was finding its footing. In August 2001, it became a wholly-owned subsidiary of Yamaha Motor Co Japan (YMC), acquiring Escorts Group’s motorcycle manufacturing unit in Faridabad, India.

But, as Chihana recalls, the turn of the millennium wasn’t a smooth ride. “From 2001 to 2006, we were struggling a bit,” says the Chairman. Yamaha’s fledgling India division faced challenges. Action was needed. Yamaha Motorcycles India and Yamaha Japan collaborated to create a high-performance motorcycle, the first-generation YZF R15. Back in 2008, anxiety lingered, fuelled partly by competitors like the Bajaj Pulsar 220F and the Hero Karizma.

However, there were more pressing concerns, as the Chairman remembers, “While in Amsterdam working in the European market, I caught wind of Yamaha Motor India unveiling the R15. With a few friends at Yamaha India, I knew there was a developing story. In that same year, the Tata Nano made waves in the Indian business scene with its Rs 1 lakh (ex-showroom) launch at the Auto Expo, grabbing international attention. Interestingly, at the same Expo, the R15 was also introduced at a similar price point (ex-showroom Rs 97,430). Following that, I spoke to a few people who didn’t believe in the success of the R15.”

In retrospect, it turns out our Yamaha had nothing to fear. Today, while the Tata Nano has long been discontinued, the Yamaha R15 thrives in its fourth generation, creating a cult of its own among young Indians, as Praveen recalls, “My college parking lot was flooded with it. It became the bike of choice for kids from upper-middle-class families. Moreover, it offered enthusiasts a taste of liquid-cooled performance biking at a relatively affordable price, not to mention the bragging rights that came with its big bike-like fully faired appearance.”

On a philosophical note, Chihana underscores how the R15 still upholds the legacy, or rather the high-performance aura, established by the RD350 in the 80s and the RX 100 in the 90s. “Even if it’s on the pricey side and customers can’t buy it right away, they still dream of owning it, setting aside small savings to hopefully make that dream a reality someday,” adds Chihana, perhaps recalling his excitement when he first laid eyes on the RD 125 that memorable evening in Japan.

Allegro – The Confusion

For Yamaha India, the final movement of the symphony hasn’t quite felt like a triumphant finale just yet. Launched this year for a price of Rs 4.60 lakh and Rs 4.65 lakh (ex-showroom), Praveen reflects the emotions of most fans towards the new R3 and MT-03, “India remains a price-sensitive market, and not many would want to shell out a hefty sum for a fun bike in this segment. While I appreciate its smooth, quick-revving engine, it’s too expensive for what it offers.”

Back in 2008, Yamaha was able to charge a premium on the R15, owing to the lack of competition. The Pulsar and the Karizma were indeed popular choices among the masses; however, the performance of the 150cc motorcycle was unparalleled. Today though, the R3 re-enters a fiercely competitive space, dominated by more affordable alternatives.

“I anticipated the R3 (and MT-03) to achieve what Kawasaki couldn’t and compete as a viable rival to something like the RC 390. The bike has always been impressive,” says Ramgopal, before adding, “The synergy between the chassis and engine creates a versatile package from what seems like a focused machine. Yet, Yamaha has restrained the potential of this delightful machine with its launch price. .”

Chihana doesn’t shy away from acknowledging the higher prices of the sibling for them being “on the expensive side.” “We couldn’t immediately localize the R3 and the MT-03 due to the time required to maintain Yamaha’s quality standards during the localization process. For production in India, certain meticulous steps take time. To avoid customer wait times, we decided to at least make the R3 and the MT-03 available in the market.”

The Afters

In Yamaha’s, or rather all Japanese bikemaker’s case in India, it helps in comparing the culture between the two countries to understand the relation between price sensitivity and market maturity in general.

For the majority of its post-colonial history, India has largely remained a price-conscious, working economy, until the 90s. In the case of Japan, as Chihana puts it, “From the ’60s to the early ‘80s, significant economic and population growth fuelled Japan’s motorcycle and car industries, shaping the current demographic of individuals in their 50s and 60s.” This is something, India has been quietly witnessing for the larger part of the last two decades, with its median age maxing out at just 28.2 years.

“Remarkably, India’s demographic now resembles Japan’s from the ‘60s to ‘80s. Japan witnessed a significant sports motorcycle surge from the early ’80s to ’85, marking its peak. Similarly, I foresee a comparable phase in India’s motorcycle market around 2025 or 2026, allowing customers time to mature and embrace the joy of sport motorcycles,” he adds.

But what about now? “Approximately 80 per cent of our customer base falls between 18 to 25 years old, extending to about 85 per cent in the 18 to 29 age bracket, encompassing the R15, MT15, FZ, and scooters. However, the market for big bikes falls outside this range. By 2030, a current 22-year-old individual will turn 30. Our strategy is to evolve alongside them. Meanwhile, we also plan to introduce models like the R7, MT-07, and MT-09 through CBU soon,” Chihana answers.

This though, begs another question — where does this apprehension come from within Yamaha and other Japanese bikemakers? Chihana explains, “Yamaha and other Japanese manufacturers have primarily focused on developing 1000cc motorcycles for the European and US markets. In these regions, customers are accustomed to higher prices, often exceeding 15,000 or 20,000 euros, especially among the mature customer base aged 50s and 60s. However, introducing these motorcycles into India, whether as completely built units (CBU) or through local production, poses challenges due to steep import duties and high production costs. Moreover, the anticipated sales volume remains quite low, approximately 50 to 100 units.”

Wouldn’t it be a little too late with the advancements of EV tech catching up? Not according to the Yamaha Chairman. “By 2030, it’s anticipated that 20 to 30 per cent of the two-wheeler market here will be comprised of EVs. Yamaha acknowledges this shift and plans to introduce one or two models to address this transition. However, even in 2030, approximately 70 per cent of the market will still consist of ICE vehicles.”

However, it’s not the lack of a market for electric two-wheelers that is holding Yamaha from having a go at EVs. Chihana explains, “While Yamaha is developing an EV, our primary focus remains on ICE technology. While I cannot reveal specifics, I believe in the importance of EVs. Having tested various major EV scooters, I emphasize that when Yamaha produces an EV motorcycle or scooter, it must stand out. It should embody the Yamaha essence—focusing on performance and style rather than being just an ordinary bulky EV scooter.” his words perhaps echoed by those of Genichi Kawakami, who said: “If you’re going to do something, be the best.”

While the R3 and MT-03 might remain rather exclusive propositions for the time being, the Japanese bikemaker’s legacy in the country and the world over keeps us optimistic about another crescendo. But thanks to these insights from the man at the helm of Yamaha, we hope it will coincide with when we can also afford an R1.