The two companies haven't had "serious talks," Goenka said in an interview, the paper said. Goenka also said a purchase probably doesn't "make any sense" for Mahindra, the paper said.
Mahindra plans to start selling a diesel pick-up truck in the US next summer and follow up with a midsize sport-utility vehicle in 2010. The plans have been delayed due to shifting of consumer preferences, it said. The company will eventually sell hybrid and crossover vehicles in the market, it said.
The automaker and its Atlanta-based distributor Global Vehicles USA plan to spend about $50 million on advertising annually, the report cited the distributor's marketing chief Xavier Beguiristain as saying.
Mahindra aims to sell at least 10,000 vehicles annually, enough to break even in the US business, the report said.
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