Development on next-gen Chevy Colorado and GMC Canyon underway?

Ford may have given up on the Ranger here in the United States, but it looks like General Motors has big plans for the mid-size pickup market. According to PickupTrucks.com, The General is currently hard at work on the next-generation of both the Chevrolet Colorado and the GMC Canyon. The current generation Colorado/Canyon is slated to end production by mid-2012, and from what we hear, GM is likely to base the next-gen pickup on the GMI 700 body-on-frame global small truck platform. Those bones are set to get an unveil at this year's Thailand International Motor Show in Bangkok.

PickupTrucks.com reports that GM had originally planned to dead-end Colorado and Canyon production altogether after this generation, but those plans seem to have changed. Even so, it looks like it'll be at least two and a half years before the newest versions of the General Motors mid-size pickup shows up, which means there may be a bit of a gap in production between the time the old line dies and the new one gets up and running.

[Source: PickupTrucks.com]