Initial models were carried out by Enrico Fumia in 1992 and by the time of his departure from Centro Stile Lancia, the project was finished by Michael Robinson.

It was inspired by the classic Lancia Flaminia and came with tobacco brown or beige leather interior (optional Alcantara), magnesium dashboard trim, exclusive 16 inch (10 spoke) alloy wheels, privacy glass and a gloss painted black roof.

Base model equipment: Electric front windows, 5" color display on the dashboard, Dual zone Heating system (without A6C), rear vents (one in the middle, and two on the bottom of the seats), ABS, EBD, 4 airbags (front and side), seatbelt pretensioner, electrically-adjustable door mirrors with electric heating, Electronic Lumbar Support and height adjustable driver's seat, 4-way adjustable steering wheel, arm rest front (with Storage compartment) and rear (with cup holder), 5 three point seat belts and five headrests, ambient light in the bottom and inside of the doors, remote Key, FPS system.

Optional equipment: A/C, GPS navigation with a GSM phone, electronic adjustable front seats, 4 electronic windows (up and down automatic), Electrochromic Rearview mirror, Rain sensor, demister sensor, Leather, Alcantara or Suhara (after 15.12.2003) seats, electrically-adjustable door mirrors with fold function, sunroof, Cruise control, BOSE Sound System with 7 speakers, 6 disc CD Changer, AUX, 6 Airbags (2 front, 2 side, and 2 side curtain), three 180w Cigarette lighter sockets, Xenon headlights, headlight washers, Nivomat self-levelling hydropneumatic rear suspension, fog lights, 60/40 Split Fold-Down Rear Seats (optional for Berlina), multifunction leather steering wheel and gear knob, ASR with Hill-holder (only for the 1.9 JTD, 2.0 20v, 2.4 JTD), 15" wheels and 205/60 or 16" 205/55 tyres.

Four special editions of the Lybra were offered during its production run: Business: Only in two colours (435 Blu Lancia and 612 Grigio Elisa Met), and two engines (1.6 16v or 1.9 JTD).

Higher Trim level like than base model Lybra, added rear electric windows, 6 AirBag and fog light.

Executive: This model was focused on luxury and featured leather or Alcantara seats and all optional equipment as standard (demister sensor, sunroof, photocromatic rearview mirror, foldable side mirrors, heated seats, satellite navigation, GSM Phone, Cruise control, Xenon headlamp and headlamp washer, Nivomat rear suspension, Bose sound system), along with special 15-spoke 16” alloy wheels.

Intensa: The Intensa Edition is characterised with its dark accents consisting of darkened front grille, and darkened chrome around the outside, on the lights, license plate light cover, chrome strip on the bumpers and the doors, dark grey pentagram-shaped alloy wheels.