Because MT-03 is going to be released soon with lower price than the R3, so what about the Red and White version of Yamaha R3?
The Red and White shade has not been launched as the Yamaha R3 would get a limited number of customers in the initial time and people prefer a Yamaha motorcycle in its iconic Blue shade. Yamaha may launch the bike later when the sales numbers go up or it may even introduce it with ABS by increasing the localization and keeping the price tag stable for the same. The introduction of MT-03 may help Yamaha in many ways as they can even start the production locally so that the common parts of both the bikes are manufactured in India itself. This would help in increasing variety of shades as well as reduction of prices for both the bikes.