This red beast is derived from Ferrari’s 599XX race car and it represents the most outrageous version of the two-seater 599, being actually a toned-down racing car that’s been homologated for road use, hence why it has been given the classic Gran Turismo Omologata moniker.

By no coincidence, just 599 units wil be built, each powered by an uprated version of the Enzo-derived 6.0-litre V12 engine. Power is up from 612bhp to 661bhp, while weight goes down from 1,690kg to 1,605kg, allowing the GTO to sprint from 0-62mph in 3.4 seconds – 0.3 seconds faster than before – and hit a top speed in excess of 208mph. Absolute madness!

Another good thing about it is that, despite the crazily awesome performance, it is also fuel-efficient! Thanks to its tweaked automated manual gearbox, which is the only transmission option, the new car returns 16.1mpg and emits 411g/km – the standard car manages 15.9mpg and 415g/km.

Worth mentioning are other features, such as electronics which Ferrari claims virtually eliminate understeer; a new generation of carbon ceramic brakes and so-called wheel donuts which fit over the brakes to improve aerodynamic efficiency and cooling.

Price for this doll starts at £300,000, but this is nothing compared to what this prancing pony can do.

Hot cars, great visual effects, SF, powerful robots and…Megan Fox. So far Transformers has been an awesome movie! Now we’re gearing up for the release of Transformers 3, even though it won’t be hitting the big screen until July 1, 2011.

Though almost all cars/visual effects/robots will pass many of you guys by as the wind passes by your years – cause I know amusemnt no. 1 will be pulse-quickening Megan Fox – here’s a tip I’m sure will not pass unnoticed: at a Ferrari charity event this week, director Micheal Bay confirmed that the sexy 458 Italia will join the cast of Autobots. We can’t wait to see Ferrari’s new stunner put into action. I trully find Megan + Ferrari 458 Italia a very cool combination. Cool as in HOT!

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This hybrid-eco-electric frenzy has swallowed up every carmaker segments from hatchbacks to sports car to big trucks. I know it’s a trend, I know y’all try to save the planet, but leave the hell alone the legends! Electric Mustang? I bet my cell-phone would have better battery autonomy. So what should I do? Stop at every 100 miles and wait for 2-3 hours to recharge it? Hybrid Ferrari? Get real, people! You can’t teach an old dog pony new tricks! Muscle cars, sports cars…these automatically trigger the idea of gasoline-powered peppery engines, not environment-friendly-5-year-old girly cars. I could imagine Schumacher queing at a race to “fill up” his runner.

Not that I don’t agree that fossil fuels are running out or that the planet is overpolluted. Totally agree! But let the Priuses and e-Tron do this job as we delight with an “old-fashioned” smoky bad-ass super car.

They keep stabbing me, like Ferrari CEO Luca di Montezemolo, who announced at yesterday’s 2010 Ferrari F1 presentation that  they will officially unveil a 599 Hybrid prototype at the Geneva Motor Show. And there are big chances that the model will make it for production. You heartless pony-trainers, you!

It seems the Swiss don’t mess around when it comes to speeding in urban areas, especially when the offender is a millionaire.

According to the BBC, an unnamed Swiss driver of a Ferrari Testarossa was finned a staggering $290,000 for going 35 miles over the speed limit, in St. Gallen. Don’t act so surprised, this particular millionaire was a repeat offender and this time he got what was coming to him…But a $290,000 fine?!? He could have bought several Ferraris with that money.

Still, it’s not all that bad. It seems our boy is worth $22.7 million, owns several other luxury cars and owns a villa in the Swiss Alps. I’m sure he’ll get over it pretty fast.

The new Ferrari California has a V8 engine delivering 450 bhp,mated to a 7-speed dual-clutch gearbox.We think that all the attention will be on this car at the Paris Motor Show in October but with a serious rival , the Jaguar F-type.As you can see,the design was inspired from the 599 Barchetta.An amazing thing is the top made of aluminium (to keep the weight down) that can be lowered.The car will go from 0 to 100km/h in just 4 seconds.

We don’t know exactly when the Ferrari California will go on sale,but we expect to see it in the UK showrooms by 2009,with a price around £130 000 .

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Take a look at the gallery after the jump

Luca Serafini the creator of Lamborghini Embolado presented the Ferrari F430 Concept

The new concept was inspired from the current F430 model and from other classic Ferraris.Serafini’s concept is not bad at all but there’s still something about the car’s front-end that doesn’t fit.

AliasStudioTools responded to Serafini’s demand to draw a 1:4 scaled model.

Now we are waiting for Ferrari to accept or not Serafini’s proposal.

Take a look at the Ferrari F430 Concept gallery after the jump

Ferrari has been spotted testing highly camouflaged vehicles in the last 12 months that many commentators believe is the new generation Dino, a cost-effective Ferrari that would rival vehicles like the Porsche Cayman and Nissan GT-R.The original Ferrari Dino emerged in 1968 and was a mid-engined rear-wheel drive model. Production ended in 1976.

The camouflaged Ferrari that have been tested has a touch of the original Dino in the design.Though very little is known at this stage, Ferrari is believed to be working on a small capacity V8 engine for the Dino. It could output around 300kW of power.It is almost 100% guaranteed to be the new “brother” of the old Ferrari Dino.