OVERVIEW

SBX Cars is delighted to offer this one-of-one 1986 Lamborghini LM002 ‘Wagon’, finished in Argento Metallizzato over Cuoio Nero, and showing 10,383 km at the time of cataloging for auction.

MODEL HISTORY

Although produced by Lamborghini from 1986 to 1993, the LM002 dates back to the late 1970s, when the Italian automaker worked with Mobility Technology International (MTI) to build a U.S. military vehicle known as the Lamborghini Cheetah. Presented at the 1977 Geneva Motor Show, the Cheetah featured a fiberglass body and a 5.9-liter V8. Its rear-engine layout caused various handling issues, and alongside other legal woes, the military contract was eventually awarded to the AM General Humvee.

Instead of wiping the slate clean, Lamborghini saw potential in its Cheetah design and began developing the LM001 pickup. However, its rear-mounted V8 still resulted in woeful handling under acceleration, leading to the project being shelved. Next was the LMA002. Taking notes of its previous two off-roader flops, Lamborghini revised the chassis so that a meatier Lamborghini Countach V12 could sit up front. After successful testing, the name LM002 was favored over LMA002, and it later earned its ‘Rambo Lambo’ moniker due to its association with Sylvester Stallone. The LM002 was fitted with unique Pirelli tires to provide top grip over soft and uneven terrains.

Buyers could choose from a 450 horsepower 5.2-liter Countach engine or an offshore powerboat 7.2-liter V12. It was no Countach, but the 5,952-pound ‘Rambo Lambo’ could hit 60 mph (97 km/h) from rest in 7.8 seconds and reach a top speed of 130 mph (210 km/h) in its 450 horsepower guise.

The LM002 was undoubtedly left-wing for a manufacturer that produced sleek sports cars. This, combined with its rarity, makes it a collectible classic. All 300 built were pickups, but when the Sultan of Brunei took delivery of this 1986 LM002 from Singapore Lamborghini, he opted to have it converted to a ‘Wagon’ by Salvatore Diomante in 1989. The LM002 Wagon’s official name is ‘LM002 Carrozzeria Diomante’ which translates to ‘Diomante bodywork’.

THIS 1986 LAMBORGHINI LM002 ‘WAGON’

In total, three LM002 ‘Wagons’ were made, but only this one has been sanctioned by Lamborghini. It’s claimed that the Sultan of Brunei drove it for just 1,100 miles before it was shipped to Germany and sold to former BMW and Volkswagen CEO Bernd Pischetsrieder. Later, it was purchased by a Swedish woman who used it to drive her children to school — this LM002 has resided in Sweden since.

The car features an extensive options list throughout, including air conditioning, electric windows, central locking, stereo system, leather seats, custom dashboard and wood paneling, DVD player, television, and a sunroof.

With the conversion, which involved closing the back, raising the roof and installing a U-shaped bench in the rear, the LM002 ‘Wagon’ can now transport around five people behind the driver and passenger. The conversion added 1,100 pounds (499 kg) to the vehicle’s weight, resulting in a curb weight of more than 6,600 pounds (2,994 kg). This LM002 was originally finished in Nero but was later changed to Argento Metallizzato.

The Wagon is approaching 40 years old and there are signs of wear and tear, such as scuff marks and paint bubbling. Likewise, the interior shows fading in places and cracking on the leather seats.

This vehicle is being offered for sale with extensive paperwork, which includes details on the conversion.

MECHANICAL

Documentation states that the LM002’s clutch and flywheel were removed and renewed in 2006 at 4,460 km at Auto-Konig GmbH in Germany. During the same service, the car was fitted with new oil pipes. Further work carried out by Auto-Konig GmbH included the fitting of a new gearbox and clutch pressure plate, also carried out in 2006.

According to further documentation, EB Auto of Sweden changed the vehicle’s battery in 2023, and an oil and oil filter change was carried out in 2024, alongside a carburetor service.

This LM002 remains unmodified and appears to be in solid condition underneath. Lamborghini fitted it with fully independent suspension, allowing it to be stable and predictable in its handling, and this car’s suspension appears to be in good condition with no notable rot.

WHAT'S INCLUDED IN THE SALE

Included in the sale is Registro Lamborghini documentation, relating to the conversion and stating its authenticity, adds considerable value to this asset.

The LM002 is still on its original tires — however, the seller has advised that a new set of tires will be supplied with the sale of this vehicle.

SUMMARY

An ordinary LM002 is an incredibly rare sight, and this one-off will not only be the center of attention but accompany the potential buyer on many off-road adventures.

A great opportunity to own a one-off Lamborghini LM002 Wagon that was once in the Sultan of Brunei’s possession. This, combined with its rarity, will make it a perfect addition to any collection.

For full details, please see listing at sbxcars.com