Jaguar Mk. 2

Leather became an option - but at least Ambla substitute didn’t age as fast

240 transformed by mods - but some still fit 3.4/3.8 engines

Daimler rebadged but largely escaped cost cutting of Mk2. Grossly underrated

Classy Daimler badge rising in value

Daimler handles better than MK2 Jags

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What is a Jaguar 240, 340 or Daimler V8 250?

It’s the final life of the classic cat we know better as the Mk2. Launched as a stop gap to fill the void before the XJ6 came along, these down graded, cheapened Mk2s have a lot going for them - not least real value for money. Compared to a ‘proper’ Mk2, the 240 and 340 (not forgetting the vastly under rated Daimler V8 250 - a car that’s always been in the shadows of the Jag) are faster, better built and easier to maintain and restore than the earlier cars - and a heck of a lot cheaper to buy into the bargain!

History

Most enthusiasts consider the 240 and 340 Mk2s as the runt of the litter; the fag end of what was a great car. But in truth while they were cheapened cats, the degeneration started 12 months before the 240 and 340 surfaced in September 1967. The Mk2 had been launched in 1959, but by the mid 1960s this great sports saloon was coming under increasing attack from newer upstarts such as the Triumph 2000, Rover 2000TC and the plush Vauxhall Viscount (the latter voted British Car of 1966 by the Sunday Times) and with Jaguar now coming under control of BLMC after merging in July 1966, rationalisation quickly took place to cut costs.

For the Mk2 this meant replacing the standard leather with Ambla (an upper crust pvc!), making the flush-mounted fog lamps optional (replaced by ugly mesh grilles) and dumping the old traditional Windtone horns. With the open secret XJ6 delayed until 1968, Jaguar took the step of launching the 420 - an S-Type with a MK10-style front end plus the 4.2-litre engine - to sustain sales during 1966, although sales of the 3.8 Mk2 had dwindledto just 689 that year. In contrast almost 1600 2.4s were sold - although during 1967 all Mk2 sales had dramatically tailed off as well. To bolster the range until the XJ6 was launched in September 1968, Jaguar took the step of downmarketing the Mk2 further and saw the entry model 2.4 as the key to saving the range. Introduced in September 1967 the 240 (and the 340) were identified by their slimmer S-Type bumpers and 420- style hubcaps along with modernised badging.

Inside, the already budgeted interior was further cost cut by deleting those legendary picnic tables (never featuring on the Daimler, strangely) fitted to the front seat backs although the wood trim thankfully remained, even though many believe it was not such high quality.But the 240 in particular was amply compensated for such undignified belt tightening because it was given the sort of power it should have enjoyed years ago. Out went the old restrictive B-Type cylinder head and Solex carbs, replaced by a straight-ported E-Type-style top end with twin 1.75 SUs plus a new distributor, improved cooling system and twin exhausts (so it looked sportier too). All this raised power of the 2483cc engine by a healthy 11 per cent, from 120bhp to 133bhp, with torque slightly improved, now up to146lbft albeit produced at a heady 3700rpm, against the earlier tune’s lustier 3000rpm.

Although it was kept quiet, the 340 also received the improved straight port cylinder head while the Marles power steering - hitherto only an extra on the 3.8 - became optional on this model at long last. The Daimler V8 2.5 version was not unaffected by these moves. A curious car in many ways and perhaps the resultant child from a marriage of convenience, that truly wonderful 2.5-litre V8 engine was only slightly larger than the 2.4 ‘six’ but, with a quoted 140bhp, was already 20bhp to the good of the then underpowered 2.4. Yet coupled with standard automatic transmission, it was priced the same as the flagship 3.8 MK2 automatic… The Daimler was cheapened with slimmer bumpers and detailed trim changes such as a padded dash top and side trims, plus it was rebadged the V8 250 although it largely escaped the penny pinching that sullied the Mk2. But penny pinching or not, you couldn’t knock their value. The 240 was pitched at £1364 - just £20 more than the original 2.4 of 1956 while the 340 only cost £1422 - over £200 less than when the Mk2 was launched. The Daimler was priced at £1697 in automatic guise. The Mk2’s stay of execution didn’t last long. The 340 was dropped almost as soon as the XJ6 arrived while the 240 bowed out the following April. The V8 250 actually survived until July 1970, replaced by the XJ6-derived Sovereign.

Not as well built as its reputation still suggests, the last of the line Mk2s were much better screwed together than the earlier mounts. Autocar in particular praised the new 240 for its smoothness and said it was “better than most Jaguars tested over the years.” Praise indeed!

Driving

It’s the 240 which gains the most where the added pep gives it much more respectable performance over the original 2.4 and makes you have second thoughts over a more expensive 3.4 where that larger engine may still be swifter but isn’t as smooth. Contemporary road tests (Jaguar never officially released a 2.4 to the press because of its lacklustre performance!) had the 240 post a 0-60mph time of under 13 seconds and truck on to 106mph making the car much more competitive against the likes of the in-house British Leyland rivals such as the Rover 2000 TC and the Triumph 2.5PI, all of which cost similar money at the time - although the newly launched and very swanky Ford Cortina 1600E had the lot licked for pace and price. The 340 stood up well against modern opposition such as the Vauxhall Ventora (a Victor with the Cresta six pot engine), the newly launched Rover 3500 V8 and even the Mercedes 250 SE - a car costing almost double the Jag’s price.

If nothing else the revamped Mk2s offered outstanding value for money. The $64,000 question is how does a V8250 compare to the similar-powered 240 in particular? It’s all to do with the car’s characters; the Jag is the more sporting while the Daimler is more suited to genteel touring - even though the lighter engine endows the V8 250 with notably better handling. It’s not so heavy and lumbering while the finger-light standard power steering (a matter of taste admittedly) makes the Daimler very easy to pilot. Not so the Mk2 with its heavy tiller requiring close to five turns lock-to-lock, making it a bit of a handful cross country.

Again, according to contemporary road tests at the time the automatic Daimler was a shade faster than a manual 240, although on neither is economy a strong point at around 17-20mpg - which is another reason why so many buyers went for the larger engine option. Even though these later Mk2s were downgraded, they are still opulent enough for most of us with the Daimler in particular offering loads of leathered luxury as well as nicer seats than the Jaguar.

Prices

Traditionally these cut-price cats lag behind the more fashionable earlier Mk2 at similar levels the Daimler does; perhaps worth up to a third less, although prices for what was regarded as “the old mans’ Mk2” are steadily rising as an increasing number of enthusiasts appreciate what the V8 has to offer. Not so the 240 and 340, meaning cars can cost not much more than a grand for a basket case with decent stuff hovering around the £6-7000 mark. Unless it’s something special, even top cars should leave change out of £15,000. Considering how much earlier Mk2s sell for, the smart money should go on one of the ‘roaring 40s’.