That power rating is below the V6 versions of the Toyota Tacoma (278 horsepower) and Chevy Colorado (308 horsepower), but the torque is far greater than both of those trucks. The V6 Tacoma makes 265 pound-feet, the Colorado makes 275. It's also more torque than the V6 Nissan Frontier, which makes 281 pound-feet. Only the diesel Colorado's 369 pound-feet out twists the Ranger engine.
Ford also announced payload and towing capacities for the new Ranger. The little truck has a maximum payload capacity of 1,860 pounds. Most trucks in this segment have maximum capacities around 1,500 pounds, with the Colorado taking the crown for best-of-the-rest at 1,574 pounds. The Ranger also boasts a maximum towing capacity of 7,500 pounds with the towing package and trailer brake controller. The gasoline powered Colorado comes up just shy with a towing rating of 7,000 pounds, but the diesel version can tow 7,700 pounds. Tacoma and Frontier both have maximum towing ratings of about 6,700 pounds.
Factor in Ford's pricing of the new Ranger at just below the competition's V6 models, and the company appears to have a serious contender on its hands. Production of the truck begins later this year, and it should be available at dealers soon after. And you can already configure one so you know what to order when it goes on sale.