Ford is working on an entry-level pickup to slot beneath the Ranger and a new report says it will be launched late next year and cost less than $20,000.

Nothing is official, but Automotive News is reporting the pickup was shown to dealers last month. The model was reportedly “well-received” and is said to have a profile that resembles the original Ranger.

Little else is known about the vehicle at this point, but previous reports have suggested it will be a compact, unibody pickup that could be based on the same platform that underpins the Ford Focus. The model is said to be codenamed the P758 and will reportedly be built in Hermosillo, Mexico.

Also Read: Ford Could Be Considering A Focus-Based Pickup For America

The plant currently builds the Ford Fusion and Lincoln MKZ, but both models are slated to go out of production shortly. When Lincoln announced the death of their entry-level sedan in January, the company said the Mexican assembly plant would eventually begin building “new Ford vehicles” but declined to elaborate.

Ford has been tight-lipped about the pickup, but they’re expecting it to be a strong seller as the company is rumored to be targeting annual sales in excess of 100,000 units. If that projection pans out, the pickup could be more successful than the Ranger which racked up 83,571 sales in the United States last year.

More importantly, the sub-$20,000 base price would make the model one of the most affordable pickups in America. That honor currently belongs to the 2019 Nissan Frontier which starts at $19,290. However, the redesigned 2021 model will likely cost significantly more than the current pickup.

The truck is also slated be more than $4,000 cheaper than the Ranger. This is important as the elimination of the Focus and Fiesta have left Ford with a lineup seriously lacking in entry-level models.