Ford Motor Co. is actively looking to throw in the towel on its money-losing European luxury brands, according to a published report.

Reuters, citing unnamed people familiar with the matter, said Monday that Ford had hired Goldman Sachs, HSBC, and Morgan Stanley to explore a sale of its Volvo, Jaguar and Land Rover brands.

All three banks have declined to comment.

The report comes as the money-losing automaker hones its focus in on its North American operation.

The brands said to be up for sale make up the Premier Automotive Group, which lost $2.32 billion in 2006. Overall, Ford lost $12.6 billion last year.

Several companies have been fingered as potential buyers, but have denied participation in the bidding. A report in London's City A.M. newspaper on Monday named venture capital firm Alchemy Partners and automaker Renault as among the interested parties.

An Alchemy spokeswoman said that the firm had not held any talks, and Renault denied it was a possible bidder for Jaguar and Land Rover, according to Reuters.

Fiat has also denied being a party to talks with Ford, also according to Reuters.

News of a potential sale by Ford follows on the heels of other sales to private equity in the auto industry, as increasing financial pressure on carmakers has prompted them to rethink strategy going forward.

Cerberus agreed last month to buy Chrysler from Germany's Daimler, and a group fronted by former Formula 1 executive David Richards bought Aston Martin from Ford in March. It in the context of that sale that Ford first hinted that other brands might be sold.

Ford bought Jaguar in 1989 for $2.5 billion, Volvo in 1999 for $6.45 billion, and Land Rover in 2000 for $2.73 billion, Bloomberg said.

Selling the brands would end a 20-year initiative to expand sales of luxury autos by acquiring European companies.

Ford's shares inched up 16 cents to $8.40 at the end of trading on Monday.