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The Lotus 32 was a Formula 2 racing car built by Team Lotus in 1964. It was developed from the Lotus 27 Formula Junior model. 12 cars were produced, but only 4 competed in the Ron Harris Team Lotus entrants (Drivers Jim Clark and Mike Spence). Jim Clark drove the Lotus 32 to win the 1964 Formula 2 Championship. The whole new chasis of the 32 had aluminium monocoque with steel front/rear bulkhead and centre section to bring it up to weight. Suspension followed the usual Lotus practice; coil spring/damper units were mounted inboard at the front and outboard at the rear. The front wishbones were slightly wider-based while rear geometry had changed and there was full adjustability (unlike the Lotus 27). The Girling brakes were outboard all round.

The Lotus 32 Formula 2 car featured a Cosworth SCA 998 cc Engine with twin 40DCM2 Weber carburattors, producing 115 bhp (86 kW) at 8700 rpm. The engine was canted over at an angle of 25 degrees in the chassis and was mated to a Hewland Mk IV 5 speed gearbox.

At the end of the 1964 F2 season Colin Chapman modified the car to a Lotus 32B. With a 2495 cc Climax engine, different suspension and wheels for Jim Clark to use in the 1965 Tasman Series, which he duly won. The car remained in New Zealand, being sold to Jim Palmer who drove it to fourth in the following year's Tasman championship.

F2 Races Won: Pau Grand Prix - Eifelrennen Germany - Guards Trophy United Kingdom - Aintree 200 - Snetterton - Enna- Sicily