Pretty cold car (4)

I believe the answer is:

cute

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'pretty' is the definition.
(I've seen this before)

'cold car' is the wordplay.
'cold' becomes 'c' (eg on taps).
'car' becomes 'ute' (I am not sure about this - if you are sure you should believe this answer much more).
'c'+'ute'='CUTE'

Can you help me to learn more?

(Other definitions for cute that I've seen before include "Lovable" , "winning" , "Charming, quaint" , "Smart" , "Daintily pretty" .)

I've seen this clue in the Sydney Morning Herald.

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