The Getaway Car crashed on to our screens earlier this year, but the Total Wipeout-style show - which sees teams of two compete in a series of madcap driving challenges - has failed to set the ratings alight.
Its first series earlier had just 2.4million viewers, a little over half the average rating of its Saturday teatime slot.
And while a second series had already been filmed and is set to air this summer, The Sun claims that it won't return for a third.
"There were high hopes for The Getaway Car but it just didn’t get the ratings and is deemed not good enough for Saturday nights," a mysterious source said. "There’s a huge shake-up after the BBC lost The Voice to ITV and bosses want new shows to compete with ITV on a Saturday night."
However, the BBC has rubbished the report, insisting that no such decision has been taken.
"This is pure speculation. It seems to be a story more about Dermot than The Getaway Car," a spokesperson told Digital Spy.
"There is a second series later this year, and only after that will a decision be taken about a recommission. So there's no truth in the story whatsoever."
The report came after it was revealed in April that ITV bosses have canned Friday Night At The Trattoria, a new food-slash-chat show which Dermot was slated to host with Gino D'Acampo.
The Getaway Car was the first major TV role that Dermot landed after he was replaced on The X Factor by Caroline Flack and Olly Murs.
However, it has now been confirmed that Dermot will return to the talent contest later this year after Caroline and Olly were axed.