A devastating accident in Japan caused a loss of more than millions of dollars. In the history of accidents, this accident was the most expensive till date. About 14 luxurious cars were part of the mishap which took place yesterday.

400, Ferrari 458 Italias have been recalled by the world famous carmaker after incidents of Ferraris catching fire from around the World, had been reported.

Luca di Montezemolo confirmed that Ferrari is tailoring a Spider variant of the 458 Italia, but the Ferrari team is not ready to reveal anything about the much anticipated car’s ‘topless’ mechanism.

This weekend, at a special ceremony in Modena, Italy, the Ferrari599 GTO was officially exposed in public. Some of the brand’s wealthiest clients were also available at this ceremony.

This ceremony was held at Modena’s Ducal Palace which is now a military academy. In this grand celebration, Ferrari factory test drivers and military cadets participated.

Ferrari, the Italian exotic car purveyor, has officially taken the wraps off its much talked about GTO, which, it turns out, is a new and improved version of the 599 GTB Fiorano. The company has claimed that the new production is the fastest road car ever manufactured.

Later this year, when Ferrari World inaugurates in Abu Dhabi, fans will experience a giant roller coaster ride but with a variation.

The ride in a Ferrari will take adventure-lovers on a two kilometer drive at up to 95 kmh and since there are two cars running side-by-side, the roller coaster turns into a racetrack with a different "winner" every time.

While undertaking the extreme weather survival testing, the descendant of Ferrari's 612 model has been clicked at a place somewhere near the Arctic Circle.