The Blista Compact is, as the name indicates, a smaller version of the Blista, although the Compact seems to based on a different brand.
Both of the Blistas never appear together in the same GTA.
Thanks to its low weight and front-wheel drive, the Blista Compact is very suitable of making maneuvers like the 180.
In GTA Chinatown Wars the car is just called Blista, but it is not the MPV version, like the normal Blistas.