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Rare early Lamborghini Countach sells for record $1.2 million

Lamborghini may have made headlines with the highly exclusive, $4.5-million Veneno and the even more expensive Veneno Roadster that followed, but when it comes to classics sold at auction, their prices seldom approach the kind of figures attained by rare classics made by arch-rival Ferrari. Early 350 GTs and rare Miuras (like the SV prototype Gooding sold a few years ago for a record $1.7 million) have been known to breach the seven-figure mark, but now the Countach is making its way into the big leagues as well.
Pictured here is a rather exceptional early example sold by Bonhams in Connecticut last week. This 1975 Lamborghini Countach LP400 "Periscopica" - so dubbed for the unique rearview mirror fitted to the first 150 examples made - has just over 10,000 miles on the odometer. With flawlessly retouched Blu Tahiti (read: French racing blue) paint and an immaculate deep tan leather interior, the Periscopica was the subject of feverish bidding before selling for $1.2 million to a buyer present at the auction, beating out a dozen or so telephone bidders.
The record price for a Countach trumps the previous record, also set by Bonhams at the Quail Lodge last August, where another '75 Periscopica sold for $836,000. The rising prices surely reflect the coming of age for the Countach, now nearly 40 years since its introduction - particularly for the generation that grew up idolizing it as the prototypical supercar. Scope it out in the artful gallery of 76 high-resolution images above and the details of the auction below.

Rolls-Royce, Lamborghini utilities await approval from German parents [w/poll]

A cursory look at the top of the automobile market would suggest that the world's carmakers are gunning it full steam ahead into a new stratosphere of ultra-luxury and high-performance utility vehicles. After all, companies like Bentley and Maserati are preparing to launch their very first crossovers, while established players like Mercedes-Benz and Land Rover keep producing ever more expensive sport-utes of their own. But that's not the case across the board.
Rolls-Royce, for example, has yet to receive the green light to start working on its proposed CUV project. Though the dimensions of its sedans may already eclipse those of some crossovers, this would be the first time that Goodwood would produce a utility of its own. But while the British automaker's financial performance may have earned it a degree of autonomy, the final call may still come down to parent company BMW, which just might be waiting to see how Bentley fares with its upcoming crossover - and how much money it brings in to the Volkswagen Group - before deciding on whether or not it should proceed.
However, Rolls-Royce may not be alone in waiting for its German parent company to approve its high-priced ute. It's been two and a half years since we first laid eyes on the Lamborghini Urus (pictured), but the Italian automaker reportedly has not yet received approval from its parent company Audi and the greater Volkswagen Group to proceed with development and production. Envisioned to share its platform with the next Volkswagen Touareg, Audi Q7, Porsche Cayenne and the production version of the Bentley EXP 9 F concept, the high-riding Lamborghini was originally set to reach production as the marque's third model line in 2017. But while Audi drags its feet - potentially waiting to see how the Bentley version pans out - the Urus' launch keeps getting pushed back, if it's ever to be made at all.

Twin-turbo Lamborghini ignites at 250 mph

Yesterday we covered a crash at the Unlimited 500+ drag race in Moscow, featuring a Nissan GT-R, but today brings better news: a Lamborghini Gallardo making 2,005 horsepower successfully went 250 miles per hour on the one-mile strip in 23.9 seconds without crashing. That's the good part. The bad part is the single-serving supercar burst into flames immediately after it crossed the finish line. Fortunately the driver was able to quickly bring the Lamborghini to a stop and get out of the car, but we have a feeling it will need some engine work before it sees any more action. That and perhaps a new paint job.
Underground Racing tuned the Gallardo LP570-4 Superleggera's V10 to such an astronomical power output with the help of what sounds like twin-turbochargers (which is typical of UR builds). But despite the very impressive mile time, it's still hard not to feel sorry for the poor engine, which just couldn't take the pressure. Watch the 2,005-hp Gallardo reach 250 mph - then catch fire - in the video below.