I was told that the 120" came about because it was deemed that a "full size" tray could not be fitted to a 110.
AFAIK it was available with 4BD1 (no V8) and no PS.
There are several 1984 model 120's available. It was likely developed concurrently with the 127" - Jaguar Rover Australia has a lot of autonomy at the time.



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