The car, based on the popular Holden ute, was to provide additional export volume in 2009 coming out of Holden's Elizabeth assembly operations in Adelaide.

But GM confirmed the car was one of the casualties of its financial problems, the company's survival relying on a multi-billion dollar US government bailout.

Holden spokesman Jonathan Rose said the sport truck would have represented an extension of the company's export program to the US and that would now not happen.

But, he said, Holden's core export program remained strong through production of the Pontiac G8 sedan.

"The decision doesn't alter the foundations of our export program," he said.

"It would have been an extension of the export program. That now won't occur."

Mr Rose said Holden would continue its excellent working relationship with Pontiac through production of the G8 Sedan G8 GT and the recently launched G8 GXP.

He said the loss of the sport truck would also not affect production schedules or jobs at the Elizabeth plant.

"We believe we can adequately handle this decision without a major disruption to our overall production at Elizabeth," he said.

Pontiac spokesman Jim Hopson said Holden would continue to produce Pontiac sedans for the US market after impressive sales in the US where about 15,000 were sold last year.

But, he said, with Pontiac focusing on being a sporty car brand, the decision was made that the G8 ST did not fit that image.

"So that was the reason for the decision," he said.