Rambo Lambo: 1988 Lamborghini LM002

If you’ve seen one 1988 Lamborghini LM002 you’ve seen them all. Well, not quite but close since there were only around 300 of them produced over around eight years. This example looks as nice as you can imagine a car with an asking price of $349,988 would look. No, I don’t have a clue how they came up with that asking price, but you can make an offer, too. It’s listed here on eBay in Pennington, New Jersey. Thanks to Russell G for sending in this unusual tip!

For a guy who is so heavily into oddball tiny vintage Japanese cars and other weird little vehicles, I really like these things. Of course, I liked them much better a decade ago when they were “cheap”, relatively, like a hundred grand less than this. But that’s always the case. If you can find a Dodge SRT-10 for under $30,000 today buy it, or any number of newer vehicles that are destined to become collectible: i.e., out of reach to those folks who could have and should have bought them a decade ago. Don’t get me started on buying Amazon stock a decade ago.

Speaking of Amazon stock, that’s what the person who owned this rig may have been dabbling in, or how the next owner will come up with $350k to buy this one. That’s only 117 shares of stock, by the way. Or, they’re a sheik or other type of oil baron or trust fund baby, hedge fund manager, etc. And for the record, I’m not saying that it’s a bad thing at all to have money, just the opposite. I like money, a lot. It’s just that most folks don’t have the opportunity to buy a vehicle for this amount of money. We’re usually quibbling about how someone is asking $7,500 for their Dodge Dart and how most folks can’t afford that anymore for a fun vehicle, and then this one shows up. I like the variety myself.

Speaking of fun vehicles, this Lambo is one of those vehicles that may be like a boat, in that the best day of your life is when you buy it and/or when you sell it. They aren’t particularly easy to drive or to live with on a daily basis. But, a major cool factor is the manual transmission! These things are wicked and wicked huge at over three tons but they’re only four-seaters, two in front and two in back.

Unless you count the people who can ride in the back. Fun fact: they’re about four inches shorter than a new Camry. I kid you not. The Camry is not an urban assault vehicle, for the record, but the LM002 was basically made for that purpose, or for almost any purpose that a person could think of. Jeff showed us three of them here on Barn Finds over the last few years, they’re as interesting as it gets for me. The seller says that this one has basically been restored inside the out, and $100,000 has been spent on it. Check out the eBay link to see everything that has been done. For the record, Hagerty is at $279,000 for a #2 excellent condition LM002.

The engine is as scary as it gets, both maintenance-wise and visually. It’s not a beautiful, typical exotic engine as most of you would have expected to see under that hood. It looks like it’s all business and is a Lamborghini Countach-sourced V12 with around 450 horsepower. I have a Cayenne Turbo that could easily leave the LM002 in the rearview mirror, but once we started off across the desert, I’d want to be in this rig. What are your thoughts on this Lamborghini LM002? Cool? Fun? Waste of money? Must-have? Take my money NOW!? Let’s hear those comments!

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  1. alphasud Member

    Scotty I would have to say driving one of these would make my Cayenne Turbo the economy car and the Cayenne does 15mpg on a good day! I think I remember that tires for the Lambo are a one off and are a staggering amount of money if you can get them. Like the Lamborghini Countach this is what teenagers pinned up on their bedroom walls when they were being sold new. Lamborghini set the standard for loud and outrageous exotics. I drove a Countach a long time ago and it was like driving an old truck. But oh my what a car it was!

    Like 4
    • Scotty Gilbertson Staff

      That’s very true, alphasud, I get 14 mpg if I’m lucky. How anyone ever got 19 mpg is beyond me. I read that tires for the LM002 are $2,500+ each, ouch. I thought mine (ours) were bad at $400 each.

      Like 6
  2. PRA4SNW PRA4SNW Member

    Over 30 years later and Lambo comes out with a new SUV.
    This one is still better looking and more desirable, IMO.

    Like 7
  3. Daniel Wright

    My first introduction to this was a PC game called Stunts…You could race against a driver named “Cherry Chassis”

    Like 3
  4. pzak

    You are kidding me , right? This is just about the ugliest vehicle I have ever laid eyes on. I often wonder why if a car is super expensive we seem to put up with just about anything in the looks department and still extol it’s beauty. If this were an economy car we would call it out as just plain ugly. Sorry,I just had to say it.

    Like 9
  5. BlondeUXB Member

    Funny how some idols just don’t hold up.
    ‘probably time to take down my Hayley Mills poster…

    Like 5
  6. oilngas

    I’m confused. Is that a clutch on the air injection pump?

    • alphasud Member

      Yup, some cars used a clutch. Mercedes did the same thing. Secondary air injection is only needed during cold start to light off the cats.

      Like 1
  7. JCA

    I’d rather have another house

    Like 19

    I would be willing to bet that the vast majority of these sleds were owned by someone in Miami at some point. I remember growing up down there in the mid/late 80’s…and seeing them valeted at the hottest clubs/restaurants/gyms regularly. They were the choice of Versace clad drug dealers with Scarface levels of cash.

    Like 9
  9. Car Nut Tacoma

    Awesome looking car. I’ve heard of the Lamborghini LM002, but other than pics, I’ve never seen one in person.

    Like 1
    • Kevin

      I once saw one of these pulling a Countach on a car trailer behind it. It was like a poster. It’s the only Lambo truck I’ve ever seen in person. That will be forever etched in my mind.

      Like 1
      • alphasud Member

        Or use it to trailer your Lamborghini tractor to car shows. Two machines that like to play in the dirt.

        Like 1
  10. Steve Bush Member

    Very cool truck but for the money I could buy a nice house or maybe 10 or so nice old cars. Would have to have Jay Leno money to consider buying it.

    Like 1
  11. Howie Mueler

    Very cool and i like them, but this one in white would not be my choice of color.

    Like 2
  12. Al Kameeno Member

    That rear “bed” ? area is needing a hot tub…

    Like 2
  13. douglas hunt

    the first time i saw one of these was the movie “Toys” with Robin Williams.
    i was like “what the hell is that?”
    always thought they were OUTRAGEOUS and totally too cool.
    who wouldn’t want a lambo 12cyl military style SUV???

    Like 2
  14. Terry Menees

    I saw one of these parked on the street in Caen France back in 1990. I knew it was an expensive oddity back then and couldn’t believe that I was seeing the real thing with a rusty chain wrapped around the front bumper. I’ve got a picture of it somewhere around here.

    Like 1
  15. Kenn

    Is it imperative that those tires be used? ie: wouldn’t it be possible to get different wheels so as to drop the tire price a couple thousand each? Though I get it that if you can drop a third of a million dollars to buy it, tires shouldn’t be a problem.

    Like 1
    • Douglas Hunt

      I think originally it was a military prototype for some well funded country
      So sure, a more regular type tire would surely work, it’s only money right🤷‍♂️

  16. Dave

    Pfffttt….. I didn’t see any cup holders.

    Like 1
  17. Martin

    I seem to recall they produced these either at the behest of an oil sheikh, or hoping to sell to them for desert travel.

    Like 1

      The Lamborghini LM002 aka “Lamborghini truck” is an off-road truck manufactured by Lamborghini between 1986 and 1993. The LM002 was an unusual departure for Lamborghini which, at the time, was primarily known for high-performance, hand-built, super/sports cars. The LM002 was not the first of its kind to be built by Lamborghini. Two prototype vehicles, the Cheetah and the LM001, paved the way for LM002. Both vehicles used rear-mounted American power plants and were intended for military use, but were not well received. With the idea of using a front mounted Countach V12 to power the LM001 came the next model, the “LM002”, which was the first of the three to see actual production by Lamborghini. The LM002 is part of a series of vehicles, the Lamborghini Militaria.

  18. tony t

    I saw one at Tom Barrett’s house in PV, AZ. Motor really fills up the bay!

  19. Dumvee

    I’ll take my 2000 model USMC Humvee for 15k over this beast, however cool. At least I can say that it’s made in the USA and parts, though overpriced, are readily available. The similarity between the two is that OPEC throws a party every time you run ‘em.

    Like 2

      yep, i have to agree, a humvee would def be more practical…unless i win the lotto i wont have either but hey

  20. Homeydodat

    Kinda resembles a vw thing on steroids

  21. Araknid78

    Exactly what you need to cruise the desert at 100mph

  22. Queequeg

    Mamma mia! Another stinker from the House of Yecchi!

    Is there a photo in which the vehicle is rendered NOT unspeakably ugly?

  23. Erikf555 Erikf555 Member

    I remember a red one ripping around NYC in the 80’s

  24. Scotty Gilbertson Staff

    Auction update: this LM002 auction was ended by the seller because it’s “no longer available”.

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