Back to Rio: does she really exist?
Well, yes...as a metaphor.
According to SongFacts, Duran Duran explained on the VH1 show True Spin that Rio is a metaphor for America, and the song expressed their desire to succeed there, which they of course did.
I'd always thought LeBon said "...evidently run you down... in the lyrics during the bridge : "Hey now (wow) look at that did he nearly run you down. Before Google we experienced dozens of similar examples.
"Rio" is still a favourite at Duran concerts, and often during an extended version when Simon LeBon introduces band members to the audience. I was fortunate to have seen it played in the encore of their 2011 gig at Montreal's Bell Centre.