Ford Motor Co. confirmed Tuesday it is looking at options for Jaguar and Land Rover amid speculation the British brands with U.S. headquarters in Irvine are up for sale.
The automaker has been reviewing operations for the past year, Ford spokesman John Gardiner told the Associated Press.
“We are working with our financial advisers on the best options for Jaguar and Land Rover, and nothing is ruled out,” he told AP.
Jaguar and Land Rover are part of Ford’s Premier Automotive Group, which has U.S. headquarters in Irvine.
The group also includes Volvo, which was the subject of sale speculation to BMW AG in late May.
At the time, Ford dismissed the talk of a Volvo sale and has stressed the brand’s role in its turnaround effort.
Observers speculate Ford may have to include Volvo in a sale of Jaguar and Land Rover because the Swedish brand is the strongest part of Premier Automotive Group.
In March, Ford sold a majority stake in Premier Automotive Group’s Aston for $848 million.
Ford reportedly hired two investment banks to handle a possible sale of Jaguar and Land Rover after fruitless talks with Italy’s Fiat SPA earlier this year.
