New FIA regulations instituted in 1980 spearheaded something of a rebirth for the World Rally Championship by allowing automakers to homologate a relatively small number of road-going versions of their racing cars. Lancia turned to Abarth, which was now part of the Fiat-Lancia group, to create Project 037 as a replacement for their highly regarded Stratos HF. Expectations in Turin were so high that Pininfarina and Dallara were also called upon for their input.

Kevlar reinforced with fibreglass formed the 037’s race-bred body, itself designed to emulate the Beta-based Montecarlo/Scorpion. However, a lift of the bonnet and boot lids revealed a massive steel subframe, further indicating that the 037 shared little more than its silhouette with any production model. Initially, the 037 Stradale featured a 205 horsepower 2.0-litre supercharged four-cylinder based on the Fiat-Abarth 131 engine. A five-speed gearbox sent power from the mid-mounted motor to the rear wheels, which was an important footnote given the rally’s shift to all-wheel drive shortly thereafter.

Rally-prepped 037s debuted at Costa Smeralda in 1982, and Lancia would capture the Constructors’ title the following year, despite fierce competition from Audi’s vaunted Quattro. Walter Röhrl and Markku Alen would also etch their names into motorsport history as the last drivers to capture the Constructors’ title in a rear-wheel-drive rally car.

Chassis number 063, presented here, is one of just 207 homologated 037s built, including the initial pre-production models. This highly original 037 shows under 33,000 kilometres of careful use. Archetypal of the rally legend, it is swathed in gleaming red paint over a minimal black competition-style interior. It is also worth noting that this car has recently been serviced by Lancia rally experts, MRT by Nocentini Mauro in Milan, having been purchased by the consignor two years ago. It has subsequently only covered 200 miles since servicing.

Unlike many 037 Stradales, this Lancia has not been modified for anything beyond reliable road use, and it is surely one of the nicest examples begging to return to the open road.