The Lamborghini LM002, known as the Rambo Lambo, has seen its market value rise significantly, with pristine examples now exceeding $500,000. Only 328 units were produced during its six-year run, making low-mileage restored models highly sought after. A specific 1990 example with just 6,700 kilometers is currently available through vintage car seller Curated.
The Lamborghini LM002, nicknamed the Rambo Lambo due to Sylvester Stallone’s rumored affinity for the vehicle, traces its origins to 1977. That year, Lamborghini developed the Cheetah LM001, a rear-engine all-terrain prototype aimed at securing a U.S. Army contract. However, issues with handling and interior space limited it to prototype status.
Former Maserati designer Giulio Alfieri revised the project, relocating the 5.2-liter V12 engine—sourced from the Countach—to the front. This change enhanced handling, weight distribution, and passenger space, allowing for six occupants in a luxurious setup suited to energy executives and sheikhs. The LM002 debuted at the 1986 Brussels Auto Show, featuring Pirelli Scorpion run-flat tires and an early navigation system precursor.
Production ran for six years, with 328 units sold. Despite being viewed as a production failure at the time, values have climbed. According to Hagerty, concours-worthy examples were estimated at $467,000 six months ago, but top prices have now surpassed $500,000. Over the past five years, pristine LM002 valuations increased by over 25 percent, from $408,000 to $519,000.
Hagerty’s sales data since the early 1990s shows the top five highest prices all above $400,000, with four occurring in the last five years. In August 2024, an RM Sotheby’s auction sold a 1989 LM002A with 23,100 miles for $703,500.
Curated’s offering is a 1990 model completed on July 13 and delivered on November 20 to Chrysler Italian Imports Inc. in New Jersey. It formed part of a two-car order, including a Diablo, totaling $382,210, and reached original owner Nasir Khalidi in Florida in June 1991. Finished in Bianco Perlato with a Rosso and Bianco interior, it remains factory-unmodified, powered by the L520i V12. With 6,700 kilometers from a single owner, it has undergone a concours restoration by LM002 expert Evans, including regular servicing. All original features, such as lighting, switchgear, steering wheel, and cargo area components, are intact and functional.
No price is listed for this example, which could approach or exceed $500,000 given recent trends.