Ford mulls future of Jaguar, Land Rover

Ford Motor Co. confirmed Tuesday it is reviewing the future of its U.K. luxury Jaguar and Land Rover brands.

"We are working with our financial advisers on the best options for Jaguar and Land Rover, and nothing is ruled out," said John Gardiner, a spokesman for Ford's Premier Automotive Group.

Gardiner said Ford has beenreviewing its operationsfor a year. He said no timetable on a decision has been set out yet.

The British Broadcasting Corporation reported Monday that Ford had briefed politicians in the U.K. about plans to sell Jaguar and Land Rover.

Union officials expressed concerns for the job security of the automakers' employees. David Osborne of the Unite union said they are seeking an urgent meeting with the company.

"We find it difficult to understand why Ford would want to sell a successful, growing and environmentally improving brand like Land Rover, and a marque like Jaguar, which is a significant player in the luxury market and one that Ford has invested heavily in," he said.

Ford acquired Jaguar for £1.6 billion in 1989, and scooped up Land Rover in 2000 for £1.7 billion.

In March, Ford sold off another of its luxury brands, Aston Martin. Ford still owns Volvo in its Premier Automotive Group.