Update #1, Jan-07-09 09:31 ET:
It's official. General Motors says the 2010 Pontiac G8 ST has been canceled. Pontiac spokesperson Jim Hopson said, "In today's market, it simply doesn't make financial sense to go ahead with the vehicle."
Even when first unveiled, the G8 ST was promoted as a niche vehicle. Sales volumes were forecast at only around 5,000 units annually.
Industry sources have told PickupTrucks.com that the 2010 Pontiac G8 ST sport truck has been killed. GM made the announcement to its dealers during a broadcast this morning.
Based on Australia's Holden VE Ute, the G8 ST was slated to go on sale in the U.S. this fall.
Last month, Susan Docherty, vice president of Buick-Pontiac-GMC, said GM would pare down Pontiac's inventory from six products now to three or fewer by 2012. Docherty said then that the review process would include a second look at whether or not it made sense to import the G8 ST.
The decision is likely to disappoint some truck enthusiasts and coupe utility buyers who were looking forward to a modern-day El Camino, which ended production in 1988.
Here's a look at a 2010 G8 ST we photographed just last week at the 2009 San Diego Auto Show, its last known public appearance.