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Rare U.S.-spec 1990 Lamborghini LM002 fetches $467,000 at auction

A rare "Rambo Lambo," an American-spec 1990 LM002 that was Lamborghini's first SUV and arguably the first high-performance sport utility, has sold at auction in New York for $467,000. RM Sotheby's says the luxury ute, which has 19,153 miles on the odometer, underwent a comprehensive five-year mechanical and cosmetic restoration and was originally priced at $158,000 when it arrived in the U.S. through a Florida port of entry. The auction sale price is more than twice the cost of the new Urus, the sleek new crossover that Lamborghini unveiled earlier this week. The LM002 traces its lineage to the Cheetah, a rear-engine-mounted 4x4 that Lamborghini made with an American defense contractor for the U.S. Army, which did not reward the automaker with a contract. It was Lamborghini's first production SUV, based on the Cheetah's basic engineering, and it added luxurious wood and leather to the interior, a spacious cargo area and the 5.2-liter Countach V12 engine that took it from 0-60 in 7.7 seconds. Only 301 examples were ever made between 1986 and 1993, with just 48 of them built to the LM/American specs and delivered to the U.S. Sotheby's notes that the exotic car market of the early '90s "was in full flourish thanks to a new generation of millionaires and billionaires seeking the ever-greater 'toy' — and nothing was bigger or better than the LM002." It boasts a massive 76-gallon fuel tank, and the model that just sold was equipped with specially designed Pirelli Scorpion run-flat tires. Jay Leno took an LM002 of the same model year for a spin two years ago on an episode of "Jay Leno's Garage." The restoration effort was valued at $325,000 and covered the Countach engine, new exhaust and a full, new interior, adding an Alpine stereo head unit and integrated Bluetooth to bring things up to modern speed. It also features the rare rear cargo toolbox, tonneau cover, and correct LM/American floor mats and chrome bumpers. The owner also got correct tools, keys, books, jack, full receipts and photographic documentation of the restoration process, plus two OEM ECU computer units.Related Video:

Bulls on vacation: Lamborghini Giro 2015

Twenty-one owners were on hand for the Lamborghini Giro 2015, the tenth edition of the exclusive brand's most exclusive event. Hailing from the US and Canada, the small group blazed over some of the best roads in Maine, New Hampshire, Vermont, and Massachusetts. Luxury accommodations were provided at each stop on the four-day tour in late July. Twenty-one owners may sound like a minuscule showing, but it represents nearly 3% of the yearly American customer base. The colorful collection of Aventadors, Huracans, and Gallardos charged around New England like a high-speed string of Skittles. Challenging drives included the storied climb of New Hampshire's famed 6,288-foot Mount Washington and a mad dash up sinuous Route 17 through Vermont's Appalachian Gap. It all concluded with a police-escorted romp into the heart of Boston. Brilliant as the driving is, the Giro is also an opportunity for the Italian brand to connect with and take the pulse of owners in America, its largest market. Twenty-one owners may sound like a minuscule showing, but consider this: Lamborghini sold just over 2,000 cars globally in 2014, 736 of them in the US. This privileged few represents nearly three percent of the yearly American customer base. For comparison, Ford Motor Company sold 2,480,942 vehicles in 2014. If a similar portion of American Ford owners breezed into New England for a Ford Giro, that would equate to more than 70,000 "Ford-istas." Begun in 2006 in the US, the event is relatively unknown, even among Lamborghini owners. Capped at a maximum of 25 couples/cars, the Giro draws some of the most loyal customers of the Bologna-based icon. Exclusivity – participants mix with top management and are looked after by Lamborghini "concierges" – is what sets it apart from larger yet still select activities for the faithful, including the Lamborghini Esperienza (track events for owners) and Accademia (track and winter driving academies). Given the statistical significance of the participants, we couldn't help but survey the well-heeled swells running their bulls on the 2015 Giro about what they thought of the company's gamble on a third Lamborghini model in the form of an SUV – the upcoming Urus. Will it diminish the flamboyant brand's street cred? Half said "No", citing the celebrated Porsche Cayenne parable. Half said, "What the ****?!" "It's not only a nice drive," says Alessandro Farmeschi, Lamborghini America Chief Operating Officer.

Runway Rumble: Nissan GT-R, Ducati 1098 and Lamborghini Reventon Roadster battle it out

One 2.5-mile runway, three different ways to take off: a Ducati 1098, a tuned Nissan GT-R with 580 horsepower and a launch control upgrade, and a Lamborghini Reventon Roadster. You'd naturally expect the Ducati to assert it's lightweight, high-horsepower authority in these matters, but with more than two miles to run, the ride that gets the jump at the line isn't always the one that gets the win.
That comes in especially handy for the Lamborghini, which suffers from a bad start in the first race and just looks plain ordinary in the second, until it finds redemption. You can see how it all goes down in the video below.