The Ferrari 550 Maranello was presented to the world at a grand launch event at Germany’s famous Nurburgring racetrack in 1996. It was more than 20 years since Ferrari had last produced a two-seat Grand Tourer (the last models of the 365 GTB/4 Daytona were built in 1973), but the 550 Maranello is certainly a worthy successor. The 550 used a front-engine, rear-wheel drive transaxle layout, with the 6-speed gearbox located at the rear axle together with the limited slip differential. The chassis was a tubular steel space frame, to which the aluminum body panels were soldered.

The Pininfarina-designed body had a drag coefficient of 0.33. Suspension was of the double wishbone type with coaxial coil spring and damper units on all four corners, and anti-roll bars front and rear. The steering was rack and pinion with variable power assist. The vented disc brakes were 330 mm (13.0 in) at the front and 310 mm (12.2 in) at the rear. Magnesium alloy was used for the 18-inch wheels. Electronic driver aid systems included anti-slip regulation, which could be adjusted on two levels or switched off completely, and four-way anti-lock braking system.

The F133 A engine is a naturally aspirated 65° V12 with four valves per cylinder, dual overhead cams and a variable length intake manifold. It displaces 5,474 cc (334.0 cu in) and produces 485 PS (357 kW; 478 hp) at 7,000 rpm and 568.1 N⋅m (419 lb⋅ft) at 5,000 rpm. Bore and stroke measure 88 mm and 75 mm.

According to the manufacturer the 550 Maranello had a top speed of 320 km/h (199 mph) and could accelerate from a standstill to 100 km/h (62 mph) in 4.4 seconds. Testing the 550 Maranello in 2000, American car magazine Motor Trend recorded a 0 to 60 mph (0 to 97 km/h) acceleration time of 4.2 seconds, a 0 to 100 mph (0 to 161 km/h) time of 9.6 seconds, and a ¼ mile (0.4 km) performance of 12.5 seconds at 116.9 mph.