After the production of the Dino had ended, the "Commendatore" (a popular nickname for Enzo Ferrari) agreed to deliver the engines for the Stratos, upon which Lancia suddenly received 500 units.

The final design shares several striking features with Gandini's Lamborghini Miura: the dual clamshell hoods (the front opening forward, over the spare wheel placed identically, and the rear hinging rearward, with stepped black louvres above the engine and integrating a trunk behind it) – as well as the way the door-glass bottom rears curve upward, giving the otherwise frameless doors an upward-swept frame section.

In contrast though, the Stratos' body received an unmistakable short and wide wedge shape, so extreme that the nose drops below the top crests of the front wheel wells, and made unique by the semi-elliptical greenhouse's windshield and door glass ensemble, when seen from above.

[7] The three leading men behind the entire rallying project were Lancia team manager Cesare Fiorio, British racer/engineer Mike Parkes and factory rally driver Sandro Munari, with Bertone's Designer Marcello Gandini taking a personal interest in designing and producing the bodywork.

Beginning with the 1978 season the 24 valve heads were banned from group 4 competition by a change to the FIA rules (which would have required additional production of 24-valve cars for re-homologation).

[10][12] Even with this perceived power deficit the Stratos was the car to beat in competition and when it did not suffer an accident or premature transmission failure (of the latter there were many) it had great chances to win.

As well as victories on the 1975, 1976 and 1977 Monte Carlo Rally, all courtesy of Munari, the Stratos won the event with the private Chardonnet Team as late as 1979.

[15] The last surviving car would win the Giro d'Italia event again before it was shipped to Japan to compete in the Fuji Speedway based Formula Silhouette series, which was never raced.

[nb 1][16][17][18] The Stratos also gained limited success in 24 Hours of Le Mans, with a car, driven by Christine Dacremont and Lella Lombardi, finishing 20th overall and 2nd in GTP class in 1976.

In 1976 Wurz claimed the first ever European Rallycross title recognised by the FIA with the car, by then still featuring a 2.4 litre engine with first a 12 and later a 24 valve head.

It was fully restored over a period of almost two years and revealed to the public in May 2016, converted back to its 1976 rallycross specification with Memphis livery.

[21] It has been displayed in the exhibit "Sculpture in Motion: Masterpieces of Italian Design" at the Petersen Automotive Museum in Los Angeles.

It was at the High Museum of Art in Atlanta at the "Dream Cars" exhibit in 2014, on loan from the XJ Wang Collection of New York City.

The car's glass surfaces seemed almost integrated into the volumes of the body, which looked like a monolithic sculpture of vigorous and smooth shape.

[34] However, on 10 February 2018, Italian coachbuilding firm Manifattura Automobili Torino of Paolo Garella[35] announced that it would be commencing with the production of the originally planned 25 cars.