The History of the Last 2003 Ferrari 550 Maranello GT1
Ferrari rarely misses an opportunity to go racing, but that’s precisely what it did in the early 2000s. Maranello had withdrawn from top-flight endurance competition in the 1990s, as rule changes would leave Ferrari struggling to remain competitive; especially compared with more focused competition such as the new Porsche 911 GT1. The funds needed to develop the car for the latest rules were deemed better spent maintaining Ferrari’s dominant position in Formula 1. The marque also directed some animosity towards the FIA for allowing the 911 GT1 (which was barely a road car) to compete at all.
However, the vacuum left by Ferrari officially leaving endurance racing didn’t stop Maranello products remaining on the grid. When the brand-new 550 was unveiled at the Nürburgring in July 1996, it seemed ideally suited to endurance competition. Its front-mounted V12 and rear transaxle conjured up evocative memories of the 365GTB/4’s modest successes of the 1970s.
The new 550 upped the ante on its predecessor with a 5.5-litre displacement and aerodynamics that had been wind-tunnel tweaked to allow over 200mph. A few plucky privateer teams began to see what Ferrari had not, and by 1999 a ‘550 GT’ run by Red Racing with support from Italtecnica was the first car to be put into serious competition.
In 2001 Prodrive took notice and began preparing its own ‘550 GTS’, alongside customer cars. In total it would produce ten 550s that took class wins in the American Le Mans Series, FIA GT Championship, and even at Le Mans. Ferrari couldn’t ignore the car’s potential any longer. The factory finally got involved in 2003 with this single remaining 550, specially modified with a 6.0-litre engine and custom rear suspension. I saw this car and took this picture at Concours of Elegance 2020.
The accountants were kept happy because the car doubled as the test bed for the forthcoming 575GTC. It managed a single win during 2003 at Estoril before being put into storage until 2005. Its new owner then used the car to campaign in the Italian Speed Hill Climb Championship, winning the GTM class in 2006. It was enough to earn him a letter of congratulations from Jean Todt, no less – Ferrari’s F1 team principal at the time.
ENGINE
6.0-litre, V12, 48-valve, water-cooled, 597bhp, fuel injection
CONFIGURATION
Front engine, six-speed manual rear transaxle with limited-slip diff, rear-wheel drive, steel spaceframe chassis with aluminium body panels, double-wishbone suspension, disc brakes all round
