DETROIT — Ford Motor will increase its extremely worthwhile truck lineup with a brand new small pickup referred to as Maverick, the corporate confirmed Thursday.

The compact automobile is anticipated to be smaller than Ford’s F-150 full-size pickup in addition to its midsize Ranger. It might be among the many smallest and least expensive pickups within the U.S., filling a void for some patrons as vans have grown more and more bigger and pricier.

“We do suppose there’s some alternative there due to how costly vans have gotten, how huge they’ve gotten and the general reputation of vans,” mentioned Michelle Krebs, government analyst at Cox Automotive.

The pickup is being produced at Ford’s Hermosillo plant in Mexico alongside the corporate’s new Ford Bronco Sport SUV.

The Maverick is anticipated to go on sale by the tip of this 12 months, nevertheless a Ford spokeswoman declined to touch upon extra particulars of the automobile aside from its title and unveiling subsequent week.

“Months of rumors, spy pictures and hypothesis have all led to this second. It is true – Ford is including an all-new small pickup to the lineup, and it is referred to as Maverick,” Ford mentioned in a launch.

The Maverick will debut Tuesday with the assistance of actress Gabrielle Union on her Instagram and TikTok channels in addition to Ford’s social media and Hulu, in accordance with the corporate.

Automakers have largely supplied compact pickups in worldwide markets, leaving the U.S. for bigger vans. The automobile might assist Ford appeal to new prospects, particularly on the West Coast, the place smaller pickups and nondomestic manufacturers carry out effectively, in accordance with Krebs.

Thursday is the primary time Ford has confirmed the automobile in addition to its title. It comes every week after Ford’s inventory worth cracked $15 a share for the primary time since 2015 following its inaugural investor day below CEO Jim Farley.

The occasion centered on Farley’s new “Ford+” plan to show round its operations and increase into rising markets similar to linked automobiles and subscription providers.

The Maverick was referenced through the occasion as a brand new unnamed “white area product” that will have higher revenue margins than the Ford Fusion sedan, which was beforehand produced on the plant.

The title Maverick isn’t new to Ford. It produced a two-door sedan with that title from 1969 to 1979. The corporate additionally used the title Maverick in Australia, China and Europe for a number of automobiles.

Analysts have mentioned the Maverick will have to be priced effectively beneath the Ford Ranger and different midsize pickups to be aggressive within the U.S. market. A two-door model of the Ranger begins at about $25,000. A four-door mannequin begins at about $27,000, in accordance with Ford’s web site.

Further particulars in regards to the Maverick might be launched through the automobile’s unveiling subsequent week, in accordance with Ford.