Holden Special Vehicles (HSV) has confirmed its locally enhanced Colorado SportsCat dual-cab pick-up will soon be axed as Holden prepares to leave Australia and New Zealand, although the door has been left open for it to return in a new form in the future.

Speaking to journalists at the Chevrolet Silverado 1500 media launch in Melbourne, HSV boss Tim Jackson said the Ford Ranger Raptor-rivalling Colorado SportsCat “will lose its core vehicle … at least in the short term”.

“To develop a new vehicle takes an extended period of time,” he added, suggesting it might not be the end of the line for the Colorado SportsCat.

HSV might look to remanufacture the US-built Chevrolet Colorado in the future – as part of its developing GM Specialty Vehicles joint-venture with Holden parent company General Motors (GM) – and therefore create an enhanced SportsCat grade.

“With any project that we’d look at, the economics need to make sense, there has to be a good business case,” Mr Jackson said of the prospect.

“Following on from the GM announcement, it says there will be no right-hand-drive product for us to pick up, so it’s going to have to involve a left-to-right conversion and the economics change when you do that.”

He added: “In that Specialty Vehicles space, people need to be willing to pay a premium for it, and it needs to offer something unique and aspirational.”

Mr Jackson noted HSV is still discussing with GM when the Colorado will end production in Thailand following its factory’s sale to Great Wall.

Read More: HSV finalising GM Speciality Vehicles deal with General Motors following Holden exit

“At the moment, we’re still building (the Colorado SportsCat), but it’ll eventually roll away in its current form, because it won’t have a core vehicle to build off,” he said.

Mr Jackson added HSV still has Colorado stock it plans to enhance and send to its dealers, although he couldn’t be drawn on how much longer the SportsCat will be available for.

“There’s some different options, but we’re not putting a specific time on it right now,” he said. “We’ll understand that a little bit more in the next three to four weeks, I think.

“We’ve been really pleased with how SportsCat’s performed over the past 12 months.”

With Holden offering generous discounts on its remaining stock, HSV might do the same with the Colorado SportsCat, according to Mr Jackson.

“There’s deals to be had in the market, and there has been because of how the market’s been, so people should know it’s a good time to be buying cars,” he said. “Anything special or over and above that, if we’re doing it, we’ll probably announce it.”