Ford eyes Jaguar, Land Rover sale

THE Ford Motor Co has confirmed that it was working with "outside financial advisers" to determine the future of its British luxury brands Jaguar and Land Rover.

US industry journal Automotive News last week quoted Ford spokesman John Gardiner as saying "we’re not ruling anything in or out – we’re investigating options in terms of all the possible actions".

The report said sources had revealed the advisers included HSBC, Goldman Sachs and Morgan Stanley.

Furthermore, the website of the Wall Street Journal also reported this week that Ford has held discussions with private equity group Cerberus Capital Management about the sale of Jaguar and Land Rover. However, the report said the discussions were "inconclusive".

Last month, Cerberus agreed to purchase 80 per cent of Chrysler from DaimlerChrysler AG.

Speculation has now intensified on Ford’s intentions with Volvo, the only other member of its Premier Automotive Group now that the US auto giant has agreed to sell Aston Martin.