Last month Holden celebrated its 60th anniversary with the unveiling of the Coupe60 concept car, a two door version of the VE Commodore sedan that many suspect will eventually spawn a successor to Australia’s Monaro Coupe. Holden has denied rumors of a new Monaro, as well as its Pontiac GTO cousin for that matter, but a number of reports claim the Coupe60 is actually based on a former Pontiac design and that officials are now considering building the car.

Most of the engineering work is complete because under the Coupe60’s svelte sheet metal is Chevrolet Camaro running gear. According to Edmunds, Pontiac could add a production version of the Coupe60 to its lineup as a new G8 GXP Coupe flagship. The car could then go head-to-head with rivals like the new Dodge Challenger SRT8, Ford Shelby Mustang GT500KR and even its Camaro SS cousin.

If given the green light, the source claims the car could be on the streets within three years. The only differences between it and the stunning concept would be a taller roofline, conventional B-pillar, and less aggressive styling both inside and out. It would also feature the same specifications as the new GXP, which means 19in wheels, FE3 sports suspension, a 400hp-plus V8 engine and an optional six-speed manual.

“The G8 Coupe is not dead,” said one source within the company. “This is an uphill battle. It shouldn’t be. But it is.”

The biggest stumbling block is the U.S. government’s new CAFE standards. Although carmakers won’t have to meet the 35mpg fleet-average fuel consumption rating until 2020, there’s no knowledge of what interim deadlines will be in place in the meantime.

Holden Coupe 60 Concept