2008 Lamborghini Gallardo Spyder Convertible 2-door 5.0l on 2040-cars

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$1.3B worth of classic cars were auctioned in 2014

The collector auto market in the US just continues to expand with the values of vehicles seemingly only growing in the past years, especially if they have a prancing horse on the hood. This year was no different. According to data compiled by classic car insurance agency Hagerty, there were about $1.3 billion worth of vintage rides auctioned in North America in 2014, up just slightly from $1.2 billion crossing the block in 2013. If you want an idea of just how big a role the Monterey Car Week plays in the North American collector hobby, Hagerty's stats illustrate it perfectly. The company recorded $430 million in auction sales during the week – about a third of the entire market for the year. The event also hosted the biggest seller of 2014 when the hammer fell on a 1962 Ferrari 250 GTO (pictured above) for $38.115 million at Bonhams. In fact, vintage Ferraris in general were among the top buys in the classic auto world in 2014. Eight of the ten most expensive vehicles sold at auction were Prancing Horses (the other two were Ford GT40s). Also, the insurance company's price index for these Italian stallions showed a 43-percent gain in value for the year. The market for another Italian supercar is exploding, as well. The Lamborghini Countach showed a staggering 175-percent growth in auction value in 2014. According to Hagerty, the average price when they crossed the block was $736,599. Judging by Hagerty's numbers, there were still some places to look for those hoping to spend a bit less money. The Aston Martin Lagonda showed a strong gain in value with a 32-percent increase in auction price, but they still averaged $47,078. In addition, the company's index for '50s American cars showed only one-percent growth for these classics. These huge leaps in collector car value might be winding down, according to Hagerty. It predicts growth in the market to slow to an estimated five percent gain in 2015. Maybe a few of these classics might actually become a bit more affordable to fans without such deep pockets sometime in the future. Featured Gallery Bonhams Maranello Rosso Collection: Monterey 2014 View 21 Photos News Source: HagertyImage Credit: Copyright 2014 Drew Phillips / AOL Aston Martin Ferrari Lamborghini Auctions Car Buying Performance Classics aston martin lagonda ferrari 250 gto Lamborghini Countach collector cars 1962 ferrari 250 gto auto auction

1990 Lamborghini LM002 roars into Jay Leno's Garage

High-performance SUVs have become fairly common in recent years, with vehicles like the Land Rover Range Rover Sport SVR, Mercedes-AMG G65, and plenty of others to fill the niche. However, the Lamborghini LM002 was arguably the segment's pioneer when it debuted decades ago. Jay Leno welcomes one of these Italian beasts into his garage in a new video, and this thing is fascinating to see on the road. The LM002 is a wonderfully incongruous vehicle. The exterior has a brutish collection of chiseled features, but there's a high-output 5.2-liter V12 from the Countach under the hood. Leno says that the "Rambo Lambo" sounds "like an Italian opera," and he lets the big engine sing several times during the clip. Leno praises the way the Lambo drives, but the LM002 ownership experience sounds difficult. According to guest Damiano Barbuscia, replacement tires are eye-wateringly expensive, and the V12 gulps down fuel. The high price is likely worth it for this SUV's charisma on the road – see for yourself in the latest from Jay Leno's Garage.

Lamborghini confirms Le Mans Daytona hybrid entry for 2024

Last August, Racer magazine reported that Lamborghini had green-lit a project to put a car in global endurance racing's Le Mans Daytona hybrid (LMDh) class, but wasn't ready to announce it yet. The brand's head of motorsport for the U.S. said at the time that work on a factory endurance program was "90 percent of the way there." Now, the last 10 percent has been completed, and the Sant' Agata Bolognese carmaker announced its LMDh car will start racing in 2024. The class, developed by the U.S. IMSA organization in collaboration with France's ACO, begins competing next year. Here's the refresher on the top to endurance racing categories, LMDh and Le Mans Hypercar (LMH), both of which are allowed to run in the FIA World Endurance Championship and the IMSA WeatherTech SportsCar Championship. LMDh cars use a spec chassis provided by one of four suppliers, Dallara, Ligier, Multimatic or Oreca. LMDh teams can use any engine and electronics they want, but they will all fit a spec hybrid unit supplied by Bosch, a spec lithium-ion battery from Williams Engineering, and a spec gearbox from Xtrac. Max horsepower is limited to about 680. VW sister brand Porsche opted for a Multimatic chassis powered by a turbocharged V8. Sportscar365 believes Lamborghini will buy a Ligier chassis. Since the R8 and its V10 are headed for the dustbin, Lamborghini could use a V8 as well. Every team creates its own bodywork, the limit being a 4:1 ratio of drag to downforce and a single aero package for the year to keep costs down. As the teaser shows, Lamborghinis on the track will be known by their Y-shaped DRL signatures, too.  Audi had been planning an LMDh entry, but dropped out when it confirmed its eventual entry into Formula 1. So for the moment, Lamborghini will join other LMDh manufacturers Acura, Alpine — which will switch from its current LMH car to LMDh in 2024, BMW, Cadillac, and Porsche. That latter brand is also going into F1, but hasn't axed any other programs. The LMH class is based on roadgoing hypercars, a manufacturer required to sell 20 of the retail hypercars over a two-year period to qualify. Although output's capped to around 680 hp as with LMDh, manufacturers can develop their own engines, gearboxes and hybrid systems. Discrete bodywork is allowed, held to the same drag-to-downforce ratio limit. The current LMH entries are Alpine, our own Scuderia Cameron Glickenhaus, and Toyota.