About a decade ago, a certain motoring TV show put out a segment reminding us all that Lancia was a very clever car company indeed. Aside from the bonkers rally machines that swept up silverware in the 1970s, ’80s and ’90s, which saw the first use of twin-charging with the Delta S4, Lancia’s road cars were crammed with innovations that would become commonplace in the industry.

First production car with fully independent suspension? The Aurelia. First unibody car? The Lambda, all the way back from 1922. Active aerodynamics? That’d be the car you see here, the Lancia Thema 8.32. Okay, so it’s not a particularly clever system, with a small spoiler popping out from the boot lid at the flick of a switch, but it is now a near-40-year-old car. The electrical wizardry didn’t stop there, either. The rear headrests would emerge from the seat backs when opening the rear doors. Apparently, the seats were also fitted with pressure sensors and would retract if a car seat was fitted – all in the name of improving rear visibility.

Funny how most remember the Thema 8.32 for the bits that pop up (or perhaps it’s just me), because the more obvious draw is what’s up front: Ferrari’s Tipo F105L V8. It’s based on the same 2.9-litre, 32-valve architecture (8.32 meaning the number of cylinders and valve count) that powers the 308 GTB QV and Mondial QV, only a smooth cross-plane crank was fitted in place of the Ferrari flat-plane crank. The motor was also used in the Lancia LC2 Group C monster with a couple of turbos strapped to it, such is the versatility of the Tipo F105. For the Thema, though, Ferrari merely supplied the parts, with Ducati taking care of the assembly.

When you think of it, the Thema was a sort of ‘Now That’s What I Call Italian Icons’. ItalDesign’s Giorgetto Giugiaro was responsible for the styling, and that sumptuous and very chocolatey interior comes courtesy of Italian furniture maker Poltrona Frau. The result is a car that started life as a humble and relatively unremarkable four-door saloon, before winding up as a sumptuous, supercar-powered grand tourer.

For all of the Thema’s suave sophistication, it’s still a mid-80s Italian saloon with plenty of quirks. The engine may come from Maranello, but power is sent exclusively to the front wheels. And although the Alfa 164 and Saab 9000 (also built on the Type Four platform) were offered in right-hand drive form, the Thema 8.32 was only ever sold in left-hand drive, which somewhat dented its appeal in the UK. That, and the fact that it cost around £40,000 when new. I’ve seen sales figures as low as seven and as high as nine. Either way, it’s a rare sight in the PH classifieds.

Hence the immense glee that resulted from stumbling across this stunning Blizzard Blue example. I’m a sucker for pinstripes, too, which is one of the few ways to spot an 8.32 against a boggo Thema. This 70,000-mile car looks to be in immaculate condition, with the ad claiming that it has undergone a £16,000 engine rebuild at an official Ferrari dealer. New Bilstein dampers were also recently fitted, so it’s ripe for a road trip down to the Tuscan hills. There are more sensible ways to spend £29,950, but sod them. It’s a Lancia with a Ferrari engine. It doesn’t get much better than this. 

Engine: 2,927cc V8
Transmission: five-speed manual, front-wheel drive
Power (hp): 215@6,750rpm
Torque (lb ft): 209@4,500rpm
MPG: 26.9
CO2: N/A
Year registered: 1990
Recorded mileage: 75,000
Price new: £40,000
Yours for: £29,950