Lancia Thema 8.32: Spotted

One of eight in the country, and looking absolutely superb – what are you waiting for?

Even in the barmy days of the 1980s, when Dodge was conjuring up the Viper, Jaguar on the brink of the XJR-15s and BMW created the original, supercar slaying M5, the Thema 8.32 must have seemed bizarre. Yes, even for Lancia. Here was a car that shared much of its nether regions with a Fiat Croma and the Saab 9000, yet was powered by a Ferrari V8. Okay, so it was changed to a cross-plane crank from the flat-plane 308 of whence it came, but this was still a bonafide Ferrari powerplant. In a Lancia saloon.

Some might argue that seems less remarkable today given the world now has the Giulia Quadrifoglio, which to all intents and purposes has a Ferrari engine at the snouty end. But even the most ardent Alfisti would have to concede it’s missing a couple of cylinders from the full Maranello masterpiece. And it has a torque converter automatic, where a Ferrari gets a dual-clutch. The Thema went the whole hog, and more than 30 years ago too: eight Ferrari cylinders, more than 200 Ferrari horsepower, and a manual gearbox. Plus, er, front-wheel drive. Definitely don’t get that with a Giulia, either.

In keeping with its rather bonkers gestation, the Thema 8.32 was ludicrously expensive: at launch it was nearly £40k, or near enough £100,000 in today’s money. It was more than twice what any other Thema in the range cost, and well beyond anything else that might be considered a rival. So, in true late Lancia fashion, this was of niche interest, extremely costly and yet still really rather interesting.

Imagine being one of the very few people who took the plunge, and was rolling around Britain in the late 80s and early 90s with their Thema 8.32. Not only were cars like the 037 and Stratos within recent memory, but Lancia was dominating the WRC (again) with the Delta. Certainly there were less iconic cars in the recent past, but what a brand to be associated with 30 years ago. In a V8 saloon…

When we use the phrase ‘very few’, that’s not hyperbole either: there were probably more Thatcher portraits sold in Yorkshire between 1986 and 1992 than 8.32s nationwide. The seller of this car suggests seven were purchased through UK outlets, and there aren’t any estimates that reach into double figures. Apparently there are eight currently residing as taxed in the UK, perhaps with one or two having been imported once upon a time.

It’ll be a proper struggle to source one, basically, but here we are: a genuine Lancia Thema 8.32. Look, see, says ‘Ferrari’ on the engine and the spoiler pops up too. Furthermore, it’s probably no exaggeration to see this must be one of the best, if not the absolute pinnacle, of Themas in the UK.

It has covered less than 70,000 miles in more than a quarter of a century and is said to be rust free, which is extremely encouraging. The current owner is clearly an enthusiast (as you’d have to be), listing the details of a recent four-figure service, posting good pictures and ensuring the car is kept in dry storage. Those images say a lot, too, the dark blue paint still gleaming and the chocolate leather truly immaculate. Best like that spec, too, because there’s plenty of the leather around…

What does it cost, then, this feast of Italian curiosity? Well, it’s for sale at £27,000. With cars selling for £20k less half a dozen years ago, that seems a lot. Although with European cars selling for more than €35,000, perhaps not. And while the aforementioned E28 M5 is not a conventional rival, given the Lancia’s more relaxed remit and less power, it’s hard to avoid in a comparison; £80,000 buys this 1987, right-hand drive car.

Truth be told, those who want a Thema 8.32 are surely going to accept nothing less than a Thema 8.32, which is probably going to mean paying what’s being asked for one. And as the Lancia brand fades ever further into obscurity, so the wares of its heyday will likely be ever more cherished (and highly prized) by their keepers. It’s hard to see a car like this ever having mass classic appeal, presumably boasting much of the awkwardness and expense of Ferrari ownership without the glamour – but for those who are keen then this could be the opportunity they’ve been waiting years for. Good luck and a gold PH star to that brave soul.

SPECIFICATION – LANCIA THEMA 8.32
Engine:
2,927cc, V8
Transmission: 5-speed manual, front-wheel drive
Power (hp): 215@6,750rpm
Torque (lb ft): 209@4,500rpm
MPG: 26.9
CO2: N/A
First registered: 1992
Recorded mileage: 67,000
Price new: £37,500 (1988)
Yours for: £27,000

See the original advert here

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