First images of Lamborghini's new 'entry level' Gallardo sports car model have broken cover, the two-wheel-drive version being set to enter the showrooms later this year.

Dubbed the Gallardo LP550-2, this will be the first time that the mid-size sports car will be available to customers without the all-wheel-drive since it was first introduced in 2003, despite the proposal having being considered several times before, and with nearly 9,000 units having been delivered. This new two-wheel-drive version will have 10 bhp less that the current production model but will reduce the weight (the Gallardo LP560-4 weights in at 1410 kg which was a 20 kg saving over the previous generation) and importantly cut costs, allowing the Bologna Sant'Agata, Italy-based manufacturer to reduce the car's cost, invaluable during the global economic recession which has seen its sales hard hit as many of its key target buyers have suffered in particular from the slowdown.

Little concrete details are known so far but the Gallardo LP550-2 will be based closely on the current-generation Gallardo LP560-4 (introduced in March 2008) and will come with a choice of eight external body colours and finished with a full length white body stripe that runs the length of the luggage compartment lid, roof, top of rear panel and overlapping the top/bottom sections of the clear engine cover. The stripe is embossed with a slim gold trim. Inside, the leather interior will continue the striped feature with a white band running up the seats and that colour is complimented on the sides of the central tunnel trim, the bezel locating the central instruments, vents and controls, while a similar pinstripe fans out across the dashboard.

The new Gallardo LP550-2's production will be limited to 250 individually-numbered units and it has been widely reported that this variant will have a 0-100 km/h acceleration time of 3.9 seconds, which would put it just two-tenths slower over the same parameters than the current Gallardo LP560-4. It is reported that it will be known as the "LP550-2 Balboni Special Edition" in honour of the company's legendary Chief Test Driver Valentino Balboni who has worked at Sant'Agata for just over 42 years after being personally hired by Ferruccio Lamborghini.