As mentioned above, Alto falls in a different price category when launched, it replaced Mehran. It wasn't competing with Picanto.
A fender costs rs. 5500
Bumpers costs rs.3500/4500
Even painting these parts cost more then the parts now. So parts aren't very expensive actually compared to prices of parts of Picanto (which are mostly not available) or prices of parts of Civic which would cost an arm and a leg.
My family enjoyed Alto throughly for 3 years are 27000 kms.
Later I replaced it in the Suzuki Exchange program with a Suzuki Cultus.
Alto is an ideal city car, women and old people love it, It maneuvers fantastically parking it is never a issue.
Once a friends Alto collided and over turned passengers got out zero injuries, but that day I decided to sell ours. It's very tiny and fragile.
You are getting what you pay for. Ideally speaking a 5 year old Honda city in low mileage zero meter like condition can be purchased in the price of a an Alto and it would be more durable.
But Alto is supposed to be brand new peace of mind and cheap parts and yes, fuel economy with rs.330 petrol.
Also once you see petrol figures for the Picanto and the Civic, you might actually start loving the engine noise Alto makes.