Ford urged to stem dealer anxiety

Geoffrey Page-Morris, group operations director of the top three group, which holds 12 Land Rover and seven Jaguar franchises, said: “Jaguar and Land Rover dealers are on edge, we are trying to calm them.” He said Sytner had assured the dealers it was committed to the brands but added: “We need it (the sale) to be short if possible.”

Page-Morris claimed Ford's decision had not come as a “complete surprise” as the carmaker had not used Jaguar and Land Rover to raise equity at the start of 2007. He added that the sale “could be fantastic news if the right owner comes along.” Press reports suggest private equity giant Cerberus was considering buying Land Rover and Jaguar, just weeks after its acquisition of Chrysler. Industry watchers are predicting venture capitalist interest in the two premium British marques.