Jaguar’s future is in doubt after owners Ford launched a ‘strategic review’ to potentially sell the troubled luxury brand.

The historic British marque was bought by Ford for £1.6 billion in 1990. Since then the Blue Oval has spent almost £4bn on the company.

Ford has appointed a Wall Street investment banker to review their worst-performing brands, who will report directly to company chairman Bill Ford Jnr.

Ford closed the Browns Lane Jaguar factory in Coventry in 2004 after Jaguar reported losses of £430m. They also sold the Milton Keynes-based Jaguar Formula One team to soft drink company Red Bull.

The two remaining Jaguar plants in Castle Bromwich, Birmingham and Halewood, Merseyside produced 90,000 cars last year – well short of the 200,000 Ford predicted at the launch of the X-Type in 2001.

This year saw the launch of the XK which is vital to the companies’ success and has been well-received by the motoring press. The sportier XK/R model was launched at last month’s British Motor Show.

Tony Willard, editor of Dealer Update, Auto Trader’s magazine for motor traders said: "Ford has denied wanting to sell Jaguar, but it is desperate for cash because of huge group losses. It wants to stop pouring money into Jaguar, which is trailing Mercedes-Benz, BMW, Audi and Lexus.

"The best chance for Jaguar is as a relatively small specialist manufacturer, making cars for the well-off."

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