Just one more reason why the iPhone is awesome – it doubles as a Ferrari. There’s a new app in town that turns your iPhone into a virtual Ferrari, complete with all the sounds and sights that come along with driving one.

It’s not good enough to drive the flashy car – you need the keys to go along with it. And if you’re all about the bling, Ferrari now offers car keys studded with precious metals and gemstones to make you shine.

The Barrett-Jackson auctions are famous for selling rare exotic cars for hundreds of thousands of dollars. Usually the cars that command the highest prices are limited production Ferrari’s, Lamborghini’s and Aston Martin’s.

The young and wealthy of New York gathered in the Park Avenue Ferrari showroom in Manhattan on Tuesday to ogle a new coffee-table book that traces the history and heritage of the automaker in words and exclusive photos. Marco Mattiacci, the president of Ferrari North America, was also there to greet the chic crowd, most of them current or prospective Ferrari owners.

General Motors has officially announced pricing for the 2012 Chevrolet Sonic. The sedan has been priced to start at $14,495 and the five-door model will start at $15,395.

On August 19th at Laguna Seca Golf Ranch, Monterey California, Concorso Italiano will open the traditional Monterey/Pebble Beach Weekend. The event will feature more than 800-1000 beautifully designed Italian cars on display. Enthusiasts can engage in conversations with fellow car lovers and enjoy Italian fashion, food and art. There will no doubt be an astonishing variety of Ferrari’s, Lamborghini’s, Maserati’s, Alfa Romeo’s, Pagani’s, and Lancia’s on display  The event will run from 9:00am- 5:00 pm and admission will cost $130 per person.

Lamborghini and Porsche are allegedly teaming up to build Lambo a 4×4 SUV. Even though the two car brands produce very different sports cars at the opposite end of the spectrum, Porsche has agreed to lend its existing expertise to the Italian automaker to produce a SUV. This is not Lamborghini’s first time building a 4×4 however. The automaker built a series of 4x4s for military use, that were named the Cheetah, the LM001 and the LM002 (aka Rambo Lambo) during the late seventies and  eighties.

The next time you want to buy your lady a little something to show how much you’re always thinking about her (and never about exotic cars), head over to the Ferrari Store. Here, you’ll find the uber-blingly limited edition Ferrari Masterpiece Jewel Brooch, a sparklicious piece of jewellery that keep you out of the dog house the next time your forget your anniversary to go to that classic car show.

Ferrari is holding a world design contest to develop the Ferrari of the future. Ferrari, in collaboration with with Autodesk, the technical partner and supporter of the project, is challenging students to develop the Ferrari hypercar of the future with the latest generation technologies and materials, while preserving the iconic performance and elegance associated with the legendary Italian automaker.

Modified Ferraris and Novitec Rosso almost go hand-in-hand, with the tuner constantly paving the way for new packages for Ferrari models. Their modifications are always within the spirit of the automobile, never straying away with aggressive body lines and sharp edges. In short, Novitec Rosso packages tend to accentuate the already existing platform rather than change it entirely. Case in point: This Ferrari 458 Italia built by Street Concepts Elite in Orange County, CA (Novitec Rosso’s Orange County dealer).

Several very high end sports cars were destroyed yesterday, caused by a torrential rain that flooded Singapore’s St Regis Residences at Singapore’s upscale Orchard Road.

Even though this isn’t a genuine 1972 Ferrari Dino 245 GT, the Magnum kit car makes for a great replica. Most interesting about this entire replica is the fact that it sports a 13B rotary powerplant under the hood with a turbocharger paired to it. The entire combination is mated to a 914 transmission and currently sports only 3,800 miles.

With the Gumball 3000 already underway (it started May 26), the folks in charge of the international parade of shenanigans has released a video showing the rally’s start in Covent Garden, London. The 19 minute video shows over 100 of the most magnificent and rare supercars in the world. Even the rain couldn’t stop the massive crowd that gathered to watch the beginning of the world’s most fun and most glamorous rally.

The 3000 mile rally will start in London and end in Istanbul over a seven day period across 10 countries, via Paris, Barcelona, Monte Carlo, Milan, Venice, Zagreb, Belgrade and Sofia. It was also revealed that the 2011 rally would cost £25,000 to take part in.

Participants include the “who’s who” of the international social scene, Sheikhs, entrepreneurs, oil tycoons, and dot com billionaires.

The incredible line up includes Pagani Zondas, Bugatti Veyrons, Ferraris, Lamborghinis, Rolls Royces, Bentleys, Aston Martins, Jaguars, Porsches, Morgans and several Lotus’, and this year, over 20 eco and concept electric cars are taking part as Gumball enters a new decade of green motoring!

Check out the video after the jump!

To capitalize on India’s new found wealth, Ferrari has now officially opened doors to its first ever dealership in the country. The dealership is located in the city of New Delhi, a city best known for its Bollywood film studios.

The one off Ferrari Superamerica 45 made its world debut at the Villa d’Este Concorso d’Eleganza this week. The Ferrari was built for Peter Kalikow, former owner of the New York Post and former chairman of the Metropolitan Transportation Authority. The 45 symbolizes Kalikow’s 45th year as a Ferrari customer.

The Superamerica 45 utilizes a 670-hp engine from the 599 GTO, and can achieve 0-60mph in around 3.3 seconds. Also employed is a nifty folding roof mechanism that can’t be accurately described in words. Luckily we have a video below to show you just how it operates, as well as some pretty cool driving footage.

Check out the video after the jump!

[Source: egm Car Tech]

Ferrari launched its first official store in Barcelona, coinciding with Spanish driver Fernando Alonso’s, Formula one contract extension, set to last until 2016.

At this year’s International Engine of the Year awards, Italian powerplants claimed half of the awards handed out. Fiat managed to win four of twelve awards with the company’s 875-cc TwinAir mill.

The latest one-off vehicle to be built by Ferrari’s ultra-exclusive Special Projects team is this custom 599 drop-top, which goes by the name Superamerica 45. Built for Ferrari nut Peter Kalikow, it celebrates the anniversary of the first year he became a Ferrari owner.

This very special 1957 four-cylinder Ferrari 500 is one of the latest additions to the RM Auctions docket at the upcoming Concorso d’Eleganza Villa d’Este where the car is expected to fetch between $3.5 to $4.5 million.

Everyone’s favourite car show will return to television on June 12. The hit BBC show Top Gear has been on break since the 16th season ended on February 27 with only 6 episodes. Some of the highlights of last season included Hammond driving the Porsche 959 and Ferrari F40, May driving around in NASA’s new lunar rover and Clarkson racing the sun in a Jaguar XJ.

With the first photos of the Ferrari P4/5 Competizione in full race livery hitting the net last week we now have video from the team’s first race.

The most exciting thing about watching the bespoke race car isn’t how it performs, however, but what happens when a Lexus LFA dive-bombs a corner on an unsuspecting Porsche driver.

Watch the video after the jump to see what happens. It’s all worth a watch but you’ll have to jump ahead to 8:15 to see the LFA.

Billionaire and Bruce Wayne archetype James Glickenhaus made headlines years ago with his bespoke Ferrari P4/5. And if gearheads weren’t already clamoring at his door in untamed jealousy, they might now: the Competizione is now race-ready, decked out in carbon fiber and a slew of sponsors.

Ferrari‘s complimentary service plan, already available in some world markets, will also be offered in the United States, on vehicles like the FF, 458 Italia and California.

One of the most prestigious cars any Ferrari fanatic can own is the 599XX. Originally sold in very limited quantities to the most loyal Ferrari customers, one has surfaced for sale on JamesList with a price tag of $1.9 million including VAT taxes.

You know it’s a good story when there’s a prequel. Not long ago, a Ferrari F50 that was stolen from a dealership, then later recovered by the FBI, and then crashed by two FBI agents (if not, you can familiarize yourself with the back story here) When we last left the saga, the insurance company was trying to get its money back from the FBI for the smashed (and worthless) Ferrari.

Low volume car companies are even more likely to update current products rather than develop new ones, and Ferrari is no exception. In the past we have seen the Testarossa turn into the 512TR and then into the F512M. The 348 spawned the 355, while the 456 became the 456M. The 360 Modena gave way to the F430, and the 550 became the 575.

Ralph Lauren’s prestigious sports car collection is on show for the first time at Paris’ Musée des Arts Décoratifs. Lauren is normally reluctant to publicly display his vehicles, although he last let publications such as Road & Track and Vanity Fair get a glimpse of various vehicles in his stable. Cars from manufacturers like Bentley, Mercedes-Benz, Jaguar, Porsche and Ferrari will be on display. The show is on from April 28 to August 28.

The Ferrari 250 GTO is considered by many to be the greatest Ferraris ever produced. To celebrate the 50th anniversary of the birth of this model, more than twenty pristine Ferrari 250 GTOs will be showcased at the 2011 Pebble Beach Concours d’Elegance. The car show will be held on Sunday, August 21. Only 36 250 GTOs were originally produced. All of these exclusive cars have been invited to the Concours and more than half have already accepted the invitation. GTOs have been sold for as much as $30 million in recent years.

The annual show held at Villa d’Este, the Concorso d’Eleganza is a renowned showcase for some of the most spectacular classic cars. The grounds hosting the Concorso d’Eleganza (sponsored by BMW this year) mixes the finest concepts of the year with the most elegant classics of the last century.

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Who says money can’t buy… creativity? Arguably the ultimate garage we’ve ever set eyes on, this owner and collector of very fine vehicles clearly not only has taste, but the willingness to think outside the box when it comes to customizing his exotics.

Well, you can’t afford the real thing, and chances are, you can’t afford the replica either. We’d all like to get behind the wheel of a 1960 Ferrari 250 California Spyder SWB, but let’s face it – unless a magic lamp falls out of the sky to grant us three wishes, there’s no way we could afford the real thing, and as it turns out, even a 1:8 scale replica.

For now, this plan is only available in Europe through authorized Ferrari dealers, but will soon be coming across the Atlantic. The coverage will include all necessary parts and labor and would also include oil and brake fluids. The warranty, which is offered on the 458 Italia, California Spyder and the FF, is attached to the vehicle, so if the car is sold within the first seven years, the new owner will benefit from this warranty also.

If you want a Ferrari 599 GTB Fiorano but think it suffers from being too elegant, then the Mansory Stallone might just be up your alley.

Apparently a new trend has been set in China. If you’re wealthy and getting married, better whip out every supercar exotic you can get your hands on and take them out on the street. This particular wedding, in Wenzhou, featured 28 exotic supercars from Ferrari’s 458 Italia to Bentley’s Flying Spur.

At first, it was fun to watch all the supercars parade around for a wedding, but now many local Chinese are finding it a tad repulsive. As with any country experiencing an abundant of wealth, the separation from lower to middle class and middle class to upper class starts to widen. Without surprise some aren’t finding it as amusing as others back in China. As for us? We can’t wait until someone rolls out their own wedding entourage with millions of dollars worth of exotics.

Check out the video after the break.

[Source: Jalopnik]

Michael Waltrip is said to be racing at Le Mans this June, becoming the latest in a succession of stock car drivers to try their hand at the grueling 24 hour race.

Ferrari is aiming for global sales of 8,000 units within 8 years, unprecedented volumes for a sports car maker that has traditionally prided itself on exclusivity and the individual nature of their products.

Ferrari‘s next flagship supercar, the successor to the 2003 Enzo, will be influenced by the Bugatti Veyron, although Ferrari declined to specify what parts of the vehicle were inspired by the world’s most powerful car.

Ferrari kicked-off the start of its 2011 Challenge series this past weekend at the famed Monza circuit. This year’s season is particularly exciting as it’s the first competition use of the new 458 Challenge cars (based on the 458 Italia), competing alongside last year’s 430 Challenge cars that are still being used by some teams.

The 458 GT cars than competed in the recent 12 Hours of Sebring failed to surpass their older 430 siblings, but that was not the case at Monza, with the newer model showing how much of advancement Ferrari has made with the car.

To celebrate the occasion, Ferrari has released a video of the 458 on the Monza circuit, piloted by Ferrari Challenge defending champ and this past weekend’s winner Stefano Gai.

So turn up your speakers and watch the video after the jump:

Quick, name the European car company that’s made the most progress in reducing their emissions. Peugeot? Smart? Even Dacia? If you had bet on Ferrari, the poster child for irresponsible motoring, you’d have won big.

When it comes to fashion, it’s important to make sure that your bag matches your car (it’s more important than remembering not to wear white after Labour Day). So when racing driver Sir Stirling Moss is out cruising around in his iconic 1961 Ferrari 250 SWB, he’ll be styling with a handbag designed just for his ride.

As part of an effort to raise money for the Red Cross’ Japanese disaster relief fund , artists affiliated with the EMI record label are auctioning off various knick-knacks, with everything from stereo equipment to handbags to vacations up for grabs.

Not all Ferraris can be bought as an investment. Exhibit one: the 550 Maranello. Costing over $200,000 when new, this 1997 model year car is currently listed at $79,500 on eBay – and it’s hardly your run-of-the-mill F-Car.

Anderson Germany continues to show off its tuning prowess, this time putting their expertise towards Ferrari‘s 599 GTB. Dubbed the Fiorano Race Edition, Anderson Germany seems to have paid tribute to Hamann by utilizing Hamann’s 599 body kit and exhaust to outfit the GTB.

The base price of a new Ferrari 458 Italia is $225,325. But just think—for only $49,675 more, you could own Ferrari’s latest and greatest product: The Official Ferrari Opus, a book detailing Ferrari’s past and present, limited to 400 copies, and one book per country.

Ferrari‘s new shoe-shaped FF four-seater all-wheel drive machine may be a distinct break with the past for the Italian automaker, but don’t look for other models to follow that format – even if they do borrow a few parts.

This event has in the past celebrated the 288 GTO, which resulted in the largest ever gathering of this model, and last year they honored the F40 ( an event we covered). Now it’s the turn of the F50 to take the honors at the greens of the Laguna Seca Golf Ranch.

James Glickenhaus took his custom made P4/5 Competizione to the Nurburgring ahead of its first race there at the Nurburgring 24 Hours.

Driver Mika Salo was able to get ample seat time in the hand-built racer, but co-driver Luca Cappellari was limited to a single lap after a red flag came out for unidentified reasons.

Fortunately, there was plenty of video shot during the session, and no less than 4 clips have surfaced online, and we have them all after the jump.

[Source: P4/5 Competizione]

Now one of these $2-million track day specials is up for sale, and while it currently sits in Italy at Ferrari’s Corse Clienti department, the owner of this car (chassis no. 146359) is from Toronto, Canada.

Ferrari‘s F430 and now F458 Italia has become synonymous with the Italian manufacturer’s moniker; while models such as the California go on living their lives less popular in the public light. Sporting a front-engine 4.3L V8 with 454-hp, many critiqued the California as a girl’s Ferrari, rather than a man’s Ferrari. But the folks over at ADV.1 Wheels don’t think the California is a ‘chick’s car’ and set out to prove it.

Dr. Dre’s long awaited new album Detox has had more false starts than the Toyota FT-86, but the legendary hip-hop producer has finally released a single, titled I Need A Doctor. If you like hip-hop music, you’ve doubtlessly heard the song by now, but you might not have seen the video, which involves a horrific crash involving a Ferrari 360 Modena.

The intro to the video has Dre driving the 360 along some twisty mountain roads while reflecting on his earlier rap career, followed by the Doc losing control of the car and crashing violently. While the crash scene is pivotal to the entire video, we were a little surprised that the crash was real, and not done via CGI or any other method. Then again, with video budgets reaching higher and higher, a used 360 is probably a fraction of what it costs to put together the actual video.

[Source: Carscoop]

Behind the scenes video after the jump

Famed auction house Bonhams will offer up a Ferrari driven by Formula 1 World Champion Jenson Button, but the car for sale isn’t one of the contemporary mega-buck supercars, but a more archaic model that has never attracted much fanfare from the Ferraristi.

Ever wanted to travel through the wine region of France with your friends in a gaggle of rare, expensive Ferrari s? If you day dream about such stuff, not to worry, you are not alone, and now thanks to two companies combining their resources, it can come true.