GM keeping Colorado and Canyon names for new small pickups

General Motors will keep the Chevrolet Colorado and GMC Canyon names when it rolls out redesigned midsize pickup trucks next year.

Chief Financial Officer Dan Ammann says the trucks will be markedly different from the current models.

He tells reporters at an industry conference in Northern Michigan that the Colorado will be targeted toward people who spend time outdoors. The Canyon will be tailored more for professional buyers.

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Ammann says GM is keeping the old truck names because they have brand equity with customers.

He says midsize truck sales have fallen recently due to lack of compelling products.

Read: Chevy Colorado replacement hits the road