The long-awaited Lamborghini Gallardo replacement will be previewed as a concept car at this year's upcoming Frankfurt motor show, according to a report.

Set to be revealed as part of Lamborghini's ongoing 50th anniversary celebrations, Autocar reports the concept will closely preview the car that’s set to take over from the Italian manufacturer’s best-ever selling model, the Lamborghini Gallardo.

Sources revealed to the publication that the new two-seater supercar, internally codenamed LP724, will feature a carbonfibre and aluminium modular spaceframe structure weighing 195kg and a body wrapped in carbonfibre-reinforced plastic and aluminium.

The intensive weight loss program is designed to help the new mid-engined bull tip the scales at less than 1500kg – the weight of the four-wheel-drive Gallardo LP560-4.

Lamborghini Gallardo LP 560-4

This target weight is said to be achieved despite the Gallardo’s successor being longer nose-to-tail than its predecessor, and riding on an increased wheelbase.

The engine is believed to be a revised version of the 412kW/540Nm naturally aspirated 5.2-litre V10 engine from the Gallardo, but uprated to see closer to 440kW.

While the report says the tweaked engine will be mated to a six-speed manual transmission as standard, with a new seven-speed dual-clutch automatic gearbox optional, Lamborghini commercial director Fintan Knight confirmed the end of manual transmissions altogether for the next supercar at the 2012 Sydney motor show.

As with the Gallardo before it, the next generation car is expected to be offered in four- and rear-wheel-drive layouts, and share much with the next Audi R8 due in 2015.

The name ‘Cabrera’ has been suggested for the LP724 production car, though the Sant’Agata-based firm is yet to confirm any details.

The 2013 Frankfurt motor show opens its doors on September 12.