The word on the street seems to be that Ferrari is working on a special edition of its powerful V12 599GTB.

The concept, similar to that of the 430 Scuderia, is to make a lighter, more aerodynamic and more powerful 599.

It appears that it could be named the 599 GTO, in honor of the 1960s 250 GTO.

Our friends at MotorAuthority.com say:

The 599’s venerable 6.0-liter V-12 is expected to be pumped up to between 680 and 700 horsepower, and this is to be accompanied by an extensive weight-saving program shedding up to 150 pounds from the car’s kerb weight.

Pictured below, is the “Laboratorio Tecnologico 599xx”, an even more extreme experimental car based on the 599, which is unfortunately less likely to ever see the light.

[via MotorAuthority]

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A few months ago a new record has been set.

In Maranello at the “Ferrari Leggenda e Passione”, a very rare 1957 Ferrari 250 Testa Rossa was put up for auction.

And it sold for a staggering $12.1 million

This is officially the most anyone has EVER spent on a car.

The previous record was another Ferrari, specifically a 1961 Ferrari 250 GT California, that had been bought by british DJ Chris Evans for $10million. The car had previously been owned by actor James Coburn for nearly 25 years!

It amuses saddens us deeply whenever some uncautious driver crashes his Ferrari in an attempt to show off to bystanders.

And that is exactly what happened in the following video: two drivers are cruising along the streets of Sofia, Bulgaria in their Ferrari Californias, when one of the two turns into a corner with an heavier-than-necessary foot (and quite possibly the wrong manettino setting) and ends up crashing his 250k$ convertible. There is also a video of the aftermath showing the full extent of the damage.

The all-new Ferrari 458 Italia has officially been unveiled at the Frankfurt Motor Show.
It features a 4.5-litre V8 with direct injection technology. It develops a mighty 425 kW at 9000 rpm (!!). Maximum torque is 540 Nm at 6000 rpm with over 80 percent of which is available from 3250 rpm – perfect for driveability.
The F430 replacement has the same 7-speed gearbox that’s mounted on the California, but with slightly tweaked gear-ratios, in order to deliver the full power of the bestial V8.
Check out the videos of the unveiling and of none other than Michael Schumacher himself talking about the 458 after the break!
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