1989 Lamborghini LM002 Already Costs More Than A New Urus

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The bidding war is underway.

Lamborghini has built many icons over the decades and one standout is the LM002 SUV. The Italian marque's first SUV program began as a prototype called "Cheetah" and was built as a potential military vehicle. Although Lamborghini failed to win any contracts, enough work had already been invested so the decision was made to adapt it for civilian purposes. With its Lamborghini Countach-inspired wedge styling, the LM002, aka the "Rambo Lambo", went into production in 1986 and lasted until 1993. Only 328 examples were built.

Of course, some surviving LM002s are more valuable than others, like this one now up for auction on Bring A Trailer. This 1989 LM003 is currently in the possession of its second owner/seller and has a mere 2,500 miles on its odometer. That's right. It's hardly been driven during its 31-year existence and is in immaculate condition.

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Originally imported from Japan to Hawaii by an Audi and VW dealership on the island of Oahu, its first owner later had it shipped to Washington State where it remained for 27 years. With its black exterior and off-white leather interior, power comes from the 5.2-liter quad-cam V12 shared with the Countach and is rated at over 400 horsepower.

Unlike the Countach's rear-mid engine setup, the LM002's V12 is front-mounted. A ZF five-speed manual was the sole transmission available, and it also features a dogleg shift pattern. A lever located between the driver's seat and center console, meanwhile, controls the transfer case. Because the LM002 ditched its military cred, Lamborghini equipped the SUVs with plenty of luxury features for the time, including a premium stereo mounted in a roof console and tinted power windows.

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Pirelli was even hired to provide custom run-flat tires to meet the SUV's needs. Interested buyers should note these tires are very expensive to replace. The owner of another LM002 remarked in the ad's comments he spent around $12,000 for a replacement set. A Carfax report claims this LM002 is accident-free nor any damage.

Judging by these photos, this thing is about as clean as you can get. The sale also includes a service manual and period literature, and a jack and factory lug and hub wrenches. The price? As of this writing, the highest bid has reached $210,000 and the auction won't end until Monday. Expect this figure to seriously increase. To compare, a brand new Lamborghini Urus only begins at $200,000.

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