Agreed. This has the real potential to compete with Yaris and upcoming City (if Kia prices it right), and considering the recent SUV/Crossover trend, I think it will pull away a lot of sales. But this is not the right car to take on C category sedans, Corolla, Civic, Elantra. And if Kia prices it close to them I don't think it'll be a hit. 2.5-3.2 million price bracket is the right one for this.
I hope Kia decides to sell it, and this study does not turn out to be a no-go from Kia like Rio. Things going against it are low-powered engine, 1.0 turbo (118hp), 1.2 and 1.4 (100hp), and no real SUV feature, front wheel drive only.
Lots of Picanto on the road here in Lahore, specially after the price increase of Cultus. Picanto can be configured without alloy wheels at a lower cost.
It is based on Rio.