One of the most exciting off-road vehicles ever conceived, the Lamborghini LM-002 resulted from the marriage of the Countach QV's 5.2-liter V12 to a functionally styled-some would say brutally styled-4 x 4. The union resulted in scintillating performance and a top speed in excess of 124 mph. The distinctive four-door body was handmade and the LM-002 came equipped in a manner one would expect of the world's foremost supercar manufacturers. Not surprisingly, Lamborghini's ultimate 4 x 4 found many customers in the Middle East, the example pictured here being delivered to the United Arab Emirates. One of just 241 produced, it is the only one built with a cabriolet top and has covered just 18,500 kilometers (11,470 miles). Described as "fully original and perfectly preserved," the car has beige Connolly leather interior, power windows, air conditioning, black mohair top and tonneau and an electric winch. Currently configured for two-wheel drive by Lamborghini Belgium in the interests of performance and fuel economy, the car comes with all necessary components for four-wheel drive.

SCM Analysis


Vehicle:1986 Lamborghini LM002 SUV
Years Produced:1985-1992
Number Produced:241
Original List Price:$125,000
SCM Valuation:$55,000-$70,000
Tune Up Cost:$3,000
Distributor Caps:$648.11
Chassis Number Location:Door jamb and engine bay
Engine Number Location:Top of engine near freeze plug
Club Info:Lamborghini Club, America One Northwood Dr., Orinda, CA 94563

The vehicle described here sold for $56,644, including commission, at the Brooks Europe Auction held March 6, 2000 in Geneva, Switzerland. Only the excesses of the late ’80s could have produced the LM-002. A 6,000-lb., V12-powered, four-wheel-drive vehicle with single-digit fuel economy and a turning circle quoted at sixteen meters (fifty-two feet) doesn’t exactly make for a soccer mom’s taxi. The big Lambo was probably aimed more at the Arab oil millionaire than drivers of Land Rovers; a good thing with its Kevlar-reinforced Pirelli Scorpion tires selling for $1,600 per corner.

Still, owners love them and find them to be reliable, fun and, if anything, unique. There are some pluses and minuses to an early version like this one. The carbureted version is more powerful than the later injected cars, but the early cars had the fuel tanks formed as part of the back seat. Either the (very long) weld seams or the sender ports allowed gasoline fumes to fill the car. This problem was sorted out in 1989 with the injected models, but the fuel tank relocation lowered the capacity from 70 gallons to 35; kind of like having a “peanut tank” on your Harley-Davidson.

This one-off cabriolet probably doesn’t suffer from the fuel vapor when the top is down, but this somehow defeats the luxury aspects of the LM-002, with its leather-trimmed interior and air conditioning. However, given the choice of being able to breathe (with top down) or being asphyxiated by gasoline fumes (with top up), I expect this Lambo will probably end up being used primarily as a top-down cruiser.

The issue of the front half of the four-wheel-drive assembly being removed should be addressed. The cost of restoration to original specs has to be factored in when considering market value. Imagine owning a two-wheel-drive LM-002 that gets stuck in that first light snowfall while Subaru Outbacks and Audi A4s go scampering by. The horror, the horror.

Most dealers in the U.S. like to price the LM-002 in the $50s if they hope to move them in a reasonable amount of time. The “America” model fetches more, but it is only a wheel and trim package that makes the car an America rather than any serious or desirable mechanical differences.

It can be difficult to put a number on a one-of-a-kind version of an already rare car. If this “Rambo Lambo” were put back to its original driveline specs, the sale price in the mid fifties would easily fly here in the States, where cabriolets of all flavors are desirable. I wonder if your average buyer will find issue with the change to two-wheel drive; few, I’m sure, take their cars off-road. But consider that your average LM-002 buyer isn’t average at all. Overall? The mid-fifties sale price is probably repeatable. Just be sure to check out the tread depth on the Kevlar tires before raising your paddle.-Michael Duffey

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