I think you've hit the nail on the head, it's a niche vehicle in a time when niche vehicles aren't making any money. If Toyota is selling 13,500 FJ's and a new Bronco would be a direct competitor to the FJ, add a few folks that would buy it cause it's a Ford not a Toyota and the market swells to 20,000 units divided between TWO models!

The numbers just don't add up to design and produce a new, true off road capable 4X4 for 10-12,000 units per year.

IF the market research showed a market of 40-50K units per year it might be worth building, but it's a tremendous risk, think 100's of millions, to maybe sell a few thousand units. %)