Deere tried the Nascar route and it didn't seem to be too rewarding for them. I still believe the best money spent on advertising is in products that you actually sell to someone. You know like t shirts, hats, etc.. All I know is some folks you just can't reach. Not too long ago I bought Mahindra t shirts with the lift spot ad on them. They are old and dirty now so I thought I'd replace them. Only problem a couple weeks ago I go to the site and they are sold out. They may be available now. At any rate looks like the shirts are selling.
If Mahindra wants to be successful in advertising all they have to do is follow the lead. Deere has set a great example. Just follow it. It's working for them.
Not to say they shouldn't do some out of the box things like they are already doing like the blogs and some involvement in racing, etc.. Just saying they are missing a heck of an opportunity.