1988 Lamborghini LM 002
Year of manufacture1988
$325,000 - $375,000
- One of only 328 produced
- Desirable early LM002 with carbureted engine
- U.S.-delivery example; originally finished in white over black
- Cosmetically restored and mechanically sorted in 2017
- 54,000 km (33,000 miles) from new
In 1981, the only vehicle at the intersection of exotic supercar and off-road vehicle was Lamborghini’s LM002. It was just as brutish as it was luxurious, and the LM002 found use with a variety of customers, ranging from militaries to Sheiks, as it could be stripped out for professional use or specified with all the luxuries with which Lamborghini’s customers were accustomed. Lovingly nicknamed the “Rambo Lambo” for its sheer presence and character, the LM002 was graced with four-wheel drive, seating for four, and more than enough room for luggage, resulting in a vehicle that could go anywhere and make zero compromises.
The LM002’s interior is instantly familiar to anyone who has spent time in a Countach, aside from the obvious addition of rear seats. Wood and leather are abundant, and even though the V-12 sits in front of the driver rather than behind, the exhaust note is unmistakable, as its engine was sourced from none other than the Countach. Feeding the thirsty V-12 engine is a massive 76-gallon fuel tank, which helped accommodate the 8-mpg fuel consumption. The performance was extraordinary, as the LM002 could complete a 0–60 mph run in just 7.7 seconds, which was incredible considering the LM002’s curb weight was 5,720 lbs.!
The LM002 offered here, according to information received from the Lamborghini factory, is an original U.S.-delivery model, completed on 17 March 1988, and delivered on 29 March 1988, through Chrysler Italian Imports of New Jersey. Interestingly, it was one of five LM002s that arrived in the U.S. that same day. Importantly, it was originally built as and remains a desirable carbureted model, and it is still finished in its original color combination of White (LMB 902) over black leather interior.
Major engine-out mechanical service was completed by the world-renowned Evans Automotive that included a full transmission rebuild, new Kevlar clutch, flywheel, pressure plate, and release bearing; new clutch master cylinder, new clutch slave cylinder, rebuilt carburetors, new distributor, exhaust system, new spark plugs, new air filter bowls, new battery, and new fluids and filters. This work was completed to the tune of $45,000. The LM002 rides on a newer set of exceedingly difficult to find and very expensive Pirelli Scorpion tires, including a full spare. Its original set of tires accompanies the car as well. In 2017, the Lamborghini was sent to Driven Exotics in Gilroy, California, where it was cosmetically restored, receiving a repaint in its original color and an interior re-trim. At this time, a full mechanical sorting was also completed.
This LM002 holds the unique distinction as being featured at the unveiling of the Lamborghini Urus, the LM002’s spiritual successor, at the 2018 North American International Auto Show. Additionally, the car was personally inspected, driven, and signed by legendary Lamborghini test driver Valentino Balboni. Its odometer displayed 54,000 km at the time of cataloguing, approximately 33,000 miles, from new.
With its aggressive styling, impressive power plant, and luxurious interior, it is safe to say the LM002 remains a highly sought-after collector car. One of only 328 produced, this sparingly driven and mechanically sorted LM002 is ready for anything, on or off road.
To view this car and others currently consigned to this auction, please visit the RM website at rmsothebys.com/en/auctions/am19.