The way these Big Three operate in our country, one has to view them as ONE BIG Company and analyze their strategy. Time and again the consumers end up paying more money for less equipped and lower quality vehicles....and end up on the receiving end of this game.
If Yaris is introduced, chances are that the hatchback version will be launched too. Why? Well, the Swift is on its way out. They have stopped making the manual and only automatic is available now, which means higher prices. Eventually the Yaris Hatchback will be taking its place and Suzuki will make do with the higher priced Cultus. Suzuki may add a smaller vehicle in the lower end while the Swift mantle will be handed over to Yaris HBack.
Honda should be gearing up to phase out this City as it has introduced the higher priced (and profit margin) BRV. They will probably get the newer model of the City in to "compete" with the possible new Yaris. I think we could be looking at a more aptly priced Vitara as well or maybe one with even more options/variants.
Overall we will see prices shifting higher up over the entire Suzuki-Toyota-Honda ranges so that their profitability keeps rising while the consumers keep feeling that they are getting better options.
This is just my two bit. My analysis might be totally wrong....but it's a point of view 
