Again, I do not believe no one wants small trucks, especially with the gas prices these days. They don't buy small trucks because there are no good choices. The major car makers simply abandoned this segment because they don't make any money at all. The Ranger is dying because it's just way too old, and the price is not that much cheaper than a F-150, which Ford can build for the same money and promotes heavily (when's the last time you seen a Ranger commercial?)
Remember just a few years back everyone wrote off the small car market? Small cars were ugly and unattractive (remember the Echo?) Now with gas prices going thru the roof and a new wave of smartly designed small cars, the segment is booming.
Same thing can be done to the small truck market. A smart and attractively designed, robust and reliable, well priced entry would do quite well. (Again, keep in mind of the gas prices. Without that factor, small trucks or cars would not fly in the US market.)
Let's see, do I want a gas guzzling, used F-150, about to run out of warranty, with funny dog pee smell and unknown stains on the seats, OR I could have a small 4 door pickup, with that brand new car smell, backed by a 10 year warranty, do much better on gas, all for the same $9000? I'd take the new truck thank you very much.