COVENTRY, UK: British luxury car brand Jaguar, owned by US giant Ford Motor Company, is still losing money but senior executives say prospects are improving.

Although the marque is expected to fall behind Toyota Motors' Lexus for the first time this year, Jaguar MD Bibi Boerio maintains the company "has made a lot of progress this year".

Boerio says the drop in sales comes from a deliberate cutback in lossmaking sales to car rental fleets and a shift towards better-equipped, more expensive models.

She adds: "I'm not really so worried about the absolute volume number as I am about the right mix. What we really tried to do in each product line is concentrate on the 'Jaguarness'."