General Motors says today its redesigned ’15 Chevrolet Colorado and GMC Canyon will base between $20,995 and $37,875, although perhaps most importantly the least expensive of the small pickup trucks is $4,500 cheaper than the entry-level Chevy Silverado large pickup.

While pricing always plays a key role in marketing, it will be particularly important for GM to hit the sweet spot with the Colorado and Canyon, which the automaker classifies as midsize pickups. Priced too steeply and GM risks overlapping with its large pickups; priced too low and profitability is sapped.

Ford and Chrysler exited the segment three years ago, mainly because of a lack in pricing gap between the two segments; people simply paid a few dollars more for a bigger pickup.

But GM claims small-pickup buyers were neglected for years with inferior product offerings, another reason they migrated to bigger pickups or CUVs boasting comparable fuel economy, greater performance and latest-generation technology.

The small-pickup segment’s other two players, the Toyota Tacoma and Nissan Frontier, have not been redesigned in a decade. Pricing for those two vehicles starts at $18,125 and $20,510, respectively.

GM thinks a right-sized pickup with lots of available premium content and marketed as a lifestyle vehicle will attract a wide swath of buyers.

“(The) Colorado is an all-new midsize pickup that offers truck customers great versatility and great value,” Tony Johnson, marketing manager-Colorado, says in a statement announcing the pricing. “It will also have strong appeal for people who know they want a truck, but want one that is easier to maneuver in traffic and easier to park at work or at home.”

Kenn Bakowski, marketing manager-Canyon, adds: “The all-new Canyon provides a one-two punch that customers tell us they’ve been waiting for. Now they can get a premium vehicle in terms of styling, features and technology, with all the inherent capabilities and maneuverability of a midsize pickup.”

GM says the base Colorado comes with standard equipment such as a 200-hp, gasoline direct-injection 2.5L 4-cyl. engine; a 6-speed manual transmission; power windows with express up for the driver; a rear-vision camera with dynamic guide lines; and a locking tailgate.

Buyers can add optional equipment such as a 305-hp GDI 3.6L V-6 engine; a 6-speed automatic transmission; 4G LTE with a built-in Wi-Fi hotspot; forward-collision alert and lane-departure-warning safety technology; and an accessory system for organizing and carrying bikes, paddle boards and other recreational equipment.

Other price points for popularly equipped models include $27,985 for a Colorado LT crew-cab with 2-wheel-drive and a 5-ft. (1.2-m) rear box. A 6-ft. (1.8-m) box also is available on crew-cab models. Extended-cab models use a 6-ft. box.

A top-of-the-range, 4-wheel-drive Colorado crew-cab with a Z71 off-road package, standard 3.6L GDI V-6 and a 5-ft. box starts at $34,990.

The base-model Canyon will start at $21,880 and include standard equipment such as the 2.5L GDI 4-cyl. engine mated to a 6-speed manual; brand-specific LED lighting; a 4-way-adjustable power driver’s seat; a rear bumper featuring “corner-step” cutouts borrowed from the larger GMC Sierra; and 16-in. aluminum wheels.

Mid-range SLE trim-level variants start at $27,520 for extended-cab, 2WD models and items such as aluminum interior trim; soft-touch instrument panel and door pads; rear tailgates specially designed to lift and lower easily; and an 8-in. (20-cm) color-touch radio with Intellilink infotainment. The Canyon also will feature the available OnStar 4G LTE Wi-Fi hotspot.

A range-topping 4WD Canyon SLT crew-cab with a 5-ft. box starts at $37,875, and includes leather seating surfaces; automatic climate control; 18-in. polished cast-aluminum wheels; remote start and an automatic-locking rear differential.

Canyon buyers also can opt for the 3.6L GDI V-6 engine and tack on a Bose 7-speaker audio system and the cargo-box accessory system.

Canyon customers will have multiple cab and bed configurations to choose from, including extended-cab models with a 6-ft. box, or crew-cab models with either the 6-ft. or 5-ft. box.

Both the Colorado and Canyon will arrive at U.S. dealerships nationwide this fall. All pricing includes shipping costs. Additional pricing details and fuel-economy estimates will be released closer to their launch.