The Lambda is possibly the most important car ever built by the Lancia. It boasts a remarkable list of firsts: it was the very first car to have a monocoque chassis, the first production car to be powered by a highly successful narrow-angle V-4 engine, and the first car to have fully independent front suspension and four wheel brakes. The open Torpedo body shown here on a 1st Series chassis was the only design available for some time. Closed coachwork was difficult to build on the unitary chassis, although hardtops could be ordered. Between 1923 and 1931, over 11,000 Lancia Lambdas were built. Approximately 400 of these were in the 1st Series.
The Tipo 67 engine has an overhead camshaft and displaces 2570cc's. With the help of Zenith Triple Diffuser carburetors, nearly 70 horsepower was ascertained. This was the most powerful engine to propel the Lambda, other options throughout the years included a 2119cc and 2370cc unit. The 2119cc engine had a 13-degree vee angle and produced about 50 horsepower. The 14-degree vee 2370cc unit improve horsepower by 10, to 59.