One to Buy: 11,000km from new 1990 Lamborghini LM002 American
In addition to having put the company on a steady financial footing, invested in various upgrades for existing models and placing an emphasis on much-improved build quality, the Mimram Group revived some of Automobili’s Lamborghini’s previous failures and turned them into commercially viable new models.
One of these was the outrageous LM002, a luxury all terrain vehicle born out of the infamous Cheetah project from 1977.
Unveiled at the Brussels Motor Show in January 1986, the LM002 was initially powered by a 444bhp version of the 5.2-litre V12 found in the Countach Quattrovalvole. From 1990, this was replaced by a fuel-injected instead of carb-fed power unit. Production continued until 1992 by which time a total of 328 cars had been completed.
A particularly interesting example of the LM theme is set to go under the hammer at Bonhams’ sale in Paris on February 1st.
Completed in 1990, chassis LLA12198 was an early fuel-injected derivative configured in the handsome and rarely seen colour scheme of Blu Acapulco Metallizato with light grey upholstery. Interestingly, it was not initially registered until January 14th 1994, since which time the car has resided in the hands of just two owners.
Since 2016, chassis LLA12198 (which has spent most of its life in Paris) has been the subject of over €100,000 in expenditure and at the time of cataloguing was showing a little over 11,000km on its odometer making it surely among one of the best sorted, lowest mileage examples of the spectacular LM range in existence.
Reprinted below is Bonhams’ description:
Chassis no. ZA9LU45A9LLA12198
Delivered new in France
Only 11,000km
One of 328 models built
Appears to be one of around 10 "interim" models
Only two owners
Fitted with the rare boot box option
Engine fully overhauled
Estimate: €350,000 - €500,000
Among the most exciting and exclusive all-terrain vehicles ever designed, the Lamborghini LM002 is the result of the marriage of the Countach QV's 5.2 litre V12 engine with a functionally designed 4x4.
The fruit of this union is exceptional performance and a top speed of around 125mph. The impressive V12 was controlled by a robust five-speed ZF transmission and a two-speed transfer box offering a choice of a total of 10 gears in two-wheel or four-wheel drive.
Assembled on a tubular steel chassis, the five-door coachwork was handmade from fibreglass (wings, bonnet, roof) and aluminium (doors). As for the passenger compartment, the LM002 was furnished with what Lamborghini did best, a sumptuous interior upholstered with leather, and air conditioning as standard.
The LM002 is the result of a series of abortive all-terrain prototypes, originally designed for military use, the civilian version of which was announced for the first time in autumn 1985, with deliveries commencing the following year.
Clients could order their own level of options, ranging from luxurious opulence to the most spartan functionalism possible. To handle desert conditions, the LM002's predestined field of play, Pirelli was commissioned to develop a special tyre, and devised the "Scorpion", a model available with two different tread patterns (mixed use and sand only) which could run practically flat.
It was only natural that such an extravagant vehicle would attract an affluent, high-end clientele. The first LM002 was thus sold to His Majesty King Hassan of Morocco. In the United States, it became known as the "Rambo Lambo", for obvious reasons. Offshoots included the LM003, a military model with a diesel engine that never went further than the prototype stage, and the LM004, which used the Lamborghini 7.2 litre V12 offshore engine.
In total, 328 would be produced. While the first units were fitted with carburettors, injection made an appearance towards the end of the production run, up to the LM/American series of 60 models sold exclusively in the United States and fitted with chrome bumpers and lower body panels.
This Lamborghini LM002, chassis no.12198, was produced in 1990. It appears to be one of around 10 known "interim" models, with Bosch KE-Jetronic injection, OZ-Racing aluminium wheel rims, all without the lower body panels or specific chrome trim of the "American" version.
It was not registered for the first time until 14 January 1994, in Paris, under the registration number 917 KSP 75, in the name of a property company. Painted Blu Acapulco Metallizato and upholstered in light grey, this LM002 has spent most of its life in Paris, between underground car parks and luxury hotels - photos from the early 2000s taken in front of the Plaza Athénée or other shopping locations in Paris's Golden Triangle bear witness to this. 12198 remained in the same hands until 2015, when it was acquired by its current owner.
The LM having only 10,600 km (6,200 miles) on the clock, it needed a major overhaul to be driven with peace of mind. For this reason, the 4X4 was entrusted to Lamborghini Frankfurt in June 2016. The engine wiring was thoroughly checked, as was the whole fuel supply system. The engine control unit was replaced, in addition to the 12 injectors and 5 tyres. The latter, the well-known Pirelli Scorpions, designed for the LM002, have only been reissued once since the 1980s, for Lamborghini's 50th anniversary in 2013.
In 2019, once the LM002 returned from Lamborghini Frankfurt, it was entrusted to Car's Color in Colmar to perfect its look and its mechanics. The coachwork received a full coat of paint, as did the wheel rims; the upholstery was fully restored by a specialist, keeping the original leather.
In 2023, the mechanics were dismantled to replace the clutch and overhaul the engine seals. The clutch system was replaced in full and the engine flywheel was resurfaced. Among other things, all the engine seals, including the head gaskets, were replaced. Lastly, the air conditioning was repaired, with an upgrade to allow the use of the latest gas. In total, over €100,000 have been spent since 2016 to make this LM002 practically faultless.
Today, 12198 is a very attractive-looking vehicle, having only 11,000km (6,835 miles) on the clock, verifiable against its maintenance records. Its coachwork, like its interior, in their original colours, attest to this low mileage with their barely used condition. Lastly, we were able to test drive this LM002 and observed that it is in good working order, both in terms of the powertrain and its electrics.
This is therefore a rare opportunity to acquire one of the most emblematic SUVs in history, if not the most emblematic, to the extent that it launched one of today's most popular concepts, that of the "Super SUV", whether the Lamborghini Urus, the Ferrari Purosangue, the Bentley Bentayga or the Aston Martin DBX.
In unusually good condition, with low mileage and a history in France, this LM002 has only had two owners in its lifetime. It will be sold with its French registration document (carte grise), as well as a file including invoices and photos recording the work completed in recent years.
