Chevrolet will not return to the Le Mans 24 Hours next season, according to this week's Autosport magazine.
The American manufacturer's Corvettes have won at La Sarthe four times since 2000 but has been told to reduce its racing budget next year.
The GT1 programme has been scrapped so Chevrolet can concentrate on the new GT2 Corvette, which will be introduced in the second half of the 2009 season.
But Steve Wesoloski, road racing boss of Chevrolet's parent company General Motors, denied that a decision had been made.
"We are still going ahead with our plans for a reduced programme of Sebring, Long Beach and Le Mans," he said. "No one has told me otherwise. We are, of course, prepared for all eventualities. It all hinges on what happens in Washington."