I'd like to see a completely utilitarian, minimalist, "KISS" (keep it simple, silly) version that focuses on gas mileage without compromising safety and has the lowest practical price tag, and that would appeal to shade-tree mechanics (like myself). Absolutely no extras whatsoever; no AC, no electric windows, no power steering, no ABS, no radio. Scrap all non-essentials (including electronic sensors and gadgetry) to reduce weight, cost, and future maintenance costs. Keep all the above available as options of course. Scrap or change all non-essential suspension parts/design. Redesign the the cab shape to cut down on wind resistance, which would increase gas mileage. Offer both a diesel (better mpg) and gasoline version with the lowest practical engine sizes. Keep airbags and structural safety features (those add weight which reduces gas mileage, but is necessary). I think a minimalist pickup would attract buyers who are on a budget, which is including more people as the economy continues sinking.
All the automakers need to offer optional car and truck models like that, not just Ranger pickups.