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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:

Lamborghini to show Gallardo replacement concept in Frankfurt

Lamborghini will give us a big clue as to the look and feel of the impending replacement for its Gallardo model at this September's Frankfurt Motor Show. According to a report by Autocar, the Italian supercar maker will have a concept car in Frankfurt that will preview a 2015 replacement for the current Gallardo (pictured above).
While nothing is set in stone, the word is that Lamborghini is still considering "Cabrera" as the Gallardo-successor's name. We didn't know the company had so many Tigers fans, but the Autoblog Detroit office is stoked.
The same report tells us that the new Lamborghini, currently going by the internal designation LP724, will be based on the same platform as the second-generation Audi R8, rather than on the more exotic Aventador underpinnings. That means a modular spaceframe, aluminum and carbon fiber construction and a reduction in curb weight as a result - the target is less than 3,300 pounds. Even with the diet, the next Gallardo will be slightly longer than the current car, but about the same height and width.

Lamborghini Gallardo Squadra Corse will cost $260K* and only come in yellow

If you live in America and want one of the 15 Lamborghini Gallardo Squadra Corses slated for our shores, you'll be happy to know you can have it any color you want, so long as it's yellow. Seems a bit odd, we'll agree, but Lambo's Giallo Midas is kind of a trademark for the brand.
Pricing for the special edition Gallardo, which is limited to just 50 units worldwide, starts at $259,100, *not including the $2,100 gas guzzler tax or the unspecified destination costs. Besides the 15 cars slated for the US market, Canada will get three vehicles of its own. Regardless of where you buy your Squadra Corse, though, they'll be individually numbered and will begin deliveries in September.
Finally, Lamborghini has released a few more images of the new car (not in yellow, oddly), which we've added to our gallery, above.