Unions are to press Ford to keep an equity stake of up to 20 per cent in Land Rover and Jaguar as the American carmaker enters the final stages of selling the two British marques.

Union officials will meet Ford and the three shortlisted bidders – Tata, Mahindra & Mahindra and OneEquity – in the next few days.

Ford yesterday said that it expected to sell the two British brands by early next year. The group was reporting a loss of $380 million (£180 million) in the third quarter, sharply reduced from a loss of $5.2 billion in the same period in 2006.

The meeting with the British unions will cover jobs, potential factory closures, the supply chain, pensions and a continuing commitment by Ford to the two brands through an equity stake.

Reports that Land Rover and Jaguar have a $2 billion pension deficit are not thought to be correct. Last year the two brands had a deficit of about £200 million and the position is believed to have improved this year. Pensions are not thought to be a significant issue in the talks between the bidders and Ford, nor likely to be for the unions.

In the third quarter, Ford’s Premier Automotive Group, which includes Land Rover, Jaguar and Volvo, lost $97 million, against $508 million in the same period last year. Ford said that Land Rover and Jaguar had made a profit, but not enough to cancel losses at Volvo. However, Ford said that it would keep Volvo, after previously signalling that it could be for sale.

Unions are pressing the Government for greater involvement in the sale of the two marques, which directly employ about 16,000 people, with a greater number of jobs reliant on the brands in their supply chain.

Tony Woodley, joint general secretary of Unite, said: “This isn’t just about what is right for Ford and a quick fix or about what is right for the Government, it is about what is right for the country and the Government cannot wash its hands of that.”

It is thought that at least one of the Land Rover/Jaguar factories will have to close under new ownership, with Land Rover’s Solilhull factory thought the most vulnerable. The two brands have been steadily integrated, sharing production and research facilities.

Ford paid £1.6 billion for Jaguar in 1989, but it has struggled to make a profit from it. Ford bought Land Rover seven years ago when BMW split the Rover car group. The brands were put up for sale after Ford had record losses of $12.7 billion last year. Earlier this year Ford sold its British flagship brand, Aston Martin, for £450 million.

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