swift is by far the best hatchback assembled locally, much much better than cultus, alto, santro and adam revo. and sometimes buying a used/imported car is not an option, especially for ppl or companies who have to get the car on lease etc. so for them swift is the best possible option.
othewise vitz is much better than locally assembled swift in almost every aspect except the engine displacement. (which cannot actually be considered a negative). and the shape is more of a matter of personal liking so i cannot say which one is actually better.
as far as the actual question of the original poster is concerned, i think the price of vitz has decreased significantly after the launch of the swift. (a friend visited the jail rd marked told me that he found vitz 2005-6 for 800k to 850k. previously ppl were asking in excess of 1000k for them