According to the latest reports, the much-rumored Ferrari 599 GTO model will make is world debut at the Paris Auto Show this Fall. Using many components from the track-only 599XX, this new GTO (Gran Turismo Omolagato) will be the first car to bear the badge since the 288 GTO in 1984.

According to an article by AutoWeek, the new car will shed 132 lbs from the standard model, thanks to carbon fiber bodywork, a striped-down interior and special light weight allow wheels. Power has been rumored to be as high as 700-hp, but AW now suggests a more reasonable 650-hp – a boost of 30-hp from the standard model and just 10-hp shy of the Enzo. Also eppected is a version of the Ferrari 458 Italia’s 7-speed dual-clutch transmission to replace the current 6-speed unit, allowing for a slightly faster 0-62 mph time of 3.5 seconds.

Suspension upgrades will also be a part of the package with a lower overall height and a slightly wider track. We also expect a more hard-core race program on the steering-wheel-mounted Manettino.

[Source: AutoWeek]

German Ferrari-tuner Novitec Rosso chose the Geneva Auto Show as the venue to debut its most powerful car ever – an 848-hp Ferrari 599 GTB. With matte-white and matte-gray paint, this car is just one of three 848-hp special edition models, aptly named “848 Race.”

Thanks to some new turbine blades on the superchargers, some modified piping and a retuned ECU, the twin-supercharged V12 engine has been bumped from the last 808-hp tuning phase up to 848-hp. Novitec claims a 0-60 mph time of 3.4 seconds and a top speed of 214 mph.

Like the 808-hp version the 848 RACE also gets Novitec’s special wind-tunnel-tested aero kit, 20 and 21-inch wheels (staggered fitment), a massive brake upgrade and a height adjustable suspension.

GALLERY: Novitec Rosso 848 RACE

Get all the details on the Novitec Rosso 848 RACE after the jump:

With the matte-green 599 hybrid concept on display at the Ferrari booth at the Geneva Auto Show, the Italian exotic automaker didn’t have a lot to say about it, but the company’s CEO did make an important remark about the future of Ferrari hybrids. Luca di Montezemolo commented that the automaker is looking to reduce emissions by up to 35 percent in the next three years and one way it intends to do that is to offer hybrid versions of all of its models in the next three or four years.

The 599 hybrid concept (Vettura Laboratorio HY Kers) is the start of what di Montezemolo called a long project, which is sure to include several updates before it becomes a full production model. The matte-green Ferrari uses a Kinetic Energy Recovery System to give the model an extra boost of electric power – making it an even higher performer. The lithium-ion battery pack for the hybrid system is located low in the car, improving its center of gravity, while not intruding on the passenger compartment. It is hooked up to a dual-clutch 7-speed transmission and adds at least 100 extra hp (as Ferrari insisted every added pound was offset by at least one horsepower).

The electric energy generated under braking also powers the car’s batter and its accessories, and allows the car to run on pure electric power at times (although Ferrari doesn’t say how far or for how long).

See more on the 599 Hybrid Concept after the jump:

We still don’t know much about it, but we do know its name… sort of. The 599 hybrid, sitting on display at the Geneva Auto Show, is accompanied by the title Vettura Laboratorio HY Kers. Details of the matte-green hybrid Ferrari (ever thought you’d heard those words in the same sentence?) are still scarce, but the name says a lot about the car.

Derived from Formula One, the Kinetic Energy Recovery System (KERS), converts the power generated under braking and transforms it into usable energy to help give an extra bit of boost to the engine, likely via a button on the steering wheel. Ferrari won’t announce more details on the car until tomorrow so until then we won’t know if the 599 Hybrid Concept (or Vettura Laboratorio HY Kers), is able to operate on just electric power or if it is capable of using the electric energy generated to assist the vehicle at low speeds, helping to improve fuel economy and improve emissions. An auto start/stop system could be a also a part of the package.

So until tomorrow, browse through our new gallery of 599 Hybrid photos.

GALLERY: Ferrari 599 Hybrid Vettura Laboratorio HY Kers

Novitec Rosso has struck once again with an even more powerful version of the Ferrari 599 GTB. Thanks to some new turbine blades on the superchargers, some modified piping and a retuned ECU, the twin-supercharged V12 engine has been bumped from the last 808-hp tuning phase all the way up to 848-hp. Novitec claims a 0-60 mph time of 3.4 seconds and a top speed of 214 mph.

Painted in matte white and black and including all of the Novitec goodies, like a special aero kit, 20 and 21-inch wheels with a massive brake upgrade and a height adjustable suspension, Novitec will build just three 848 Race models.

The car will officially debut at the Geneva Auto Show next week and AutoGuide will bring you plenty of live photos with complete show coverage starting Monday, March 1st.

Click here for AutoGuide’s live 2010 Geneva Auto Show coverage starting Monday, March 1st.

GALLERY: Novitec Rosso 848 RACE

See the official release and an incredible video of the Novitec Rosso 599 (808-hp version) after the jump:

Ferrari’s latest track-only machine, the 599XX, has finally made its debut on the tarmac, at Valencia’s Ricardo Tormo circuit in Spain. Driving the car for the first time was F1 pilot Felipe Massa, who commented: “I really enjoyed testing this car, I think it’s extremely powerful and has an exceptional stability. Considering that it has been planned for the track it’s really easy to drive.”

That is quite a testament to the car’s capabilities, especially considering it makes an unwieldy 700-hp at 9000 rpm, from its 6.0-liter V12 engine and runs on racing slicks.

Ferrari debuted the car ahead of its first official 2010 season Formula One test at the Valencia track, and brought out all the 599XX owners to participate. Ferrari will organize a series of track events for 599XX owners over the course the next year in Europe, America and Asia.

GALLERY: Ferrari 599XX Track Debut in Valencia

See after the jump for video of the first official track test of the 599XX

Ferrari will show a hybrid concept at the Geneva Auto Show, based on the Italian automaker’s 599 flagship. Ferrari CEO Luca di Montezemolo made the announcement while unveiling the company’s latest Formula One race car. Di Montezemolo also stated that this prototype is slated for production but did not give any timeline.

Ferrari has been known to be working on hybrid technology, a fact the automaker couldn’t deny when patents for a hybrid drivetrain surfaced last year, however, company representatives have said hybrid F-Cars are not in the automaker’s immediate plans.

The 599 Hybrid concept is expected to use a kinetic energy recovery system (KERS) setup similar to the ones designed for Formula One, including a lithium-ion battery pack with electric motors built into the rear transaxle. This setup would allow for regenerative braking, a start-stop function and an electric boost capability to add even more acceleration to the 599’s already impressive 620-hp V12 engine. Under city driving it would also help improve mileage by 30 percent. That will be particularly noticeable on such a gas-hungry beast as the 599, which currently only gets 8.7 mpg, bringing it up to 13.8 mpg.

Di Montezemolo made it clear that that while in the past Ferrari lead the charge in getting race car technology to street cars, it now wants to be a pioneer in transferring the efficiencies found at the pinnacle of motorsport to the street.

[Source: AxisofOversteer]

We have been following the ASI Ferrari F430 design since its initial concept stages and we were excited to finally spot a finished product in person. ASI is famous for some very wild creations, includig a matte-white widebody Bentley Continental GT, which debuted at the SEMA Show several years back.

Unveiled in the Forgiato booth at the 2010 Tokyo Auto Salon, the ASI Ferrari F430 is certainly more impressive in person than in any photos we’ve seen up until now. The aggressive yet clean styling further accents the already curvaceous lines of the Ferrari F430, while some of the more wild parts of the aero kit lend a race car-like feel to the car. Plus, there’s a nice set of Scuderia stripes to add to the package.

With the F458 Italia on the horizon, believe it or not, the F430 will soon begin to look dated and so tuners like ASI are eager to produce parts that will help owners stand out – for better or worse.

GALLERY: ASI Ferrari F430

In stark contrast to the Dodge Caliber, just a few feet away at the Chrysler booth at the Detroit Auto Show is the ultra-rare and even more ultra-expensive Ferrari 599XX. Ferrari claims to have no official presence at the show, with the Ferrari a part of a three-pronged Fiat, Maserati, Ferrari display within the Chrysler booth. This setup is designed to draw crowds to the Chrysler booth, a company which doesn’t have much in the way of exciting new models.

Fiat took control of Chrysler as a part of Chrysler’s bankruptcy exit.

As for the 599XX, it is a special track-only model and isn’t homolgated to compete in any racing series, meaning owners can only drive it on track, but can’t compete in racing. The car’s 6.0-liter V12 engine has been reworked to produce 700-hp at 9000 rpm, while new aerodynamics help to deliver 612 lbs of downforce at 124 mph and almost 1,400 lbs of downforce at 186 mph!

One particularly important innovation on the 599XX is Ferrari’s new “Actiflow” technology, that adjusts downforce and drag depending upon how the car is operating. This is achieved through the use of a porous material in the diffuser and two fans in the trunk lid that work to channel air from under the car out through two grilles next to the tail lights. Rather noticeable winglets have also been added to the the are just behind the winds, where the buttresses are located.

The 599XX also uses what Ferrari terms a, “Virtual Race Engineer” that essentially uses all the onboard computers to calculate what the maximum level of performance the car can achieve on a race track. To do this it takes every bit of data available, including tire temperature, tire pressure, engine and coolant temperature (as well as many other variables) and determines what the maximum level of performance capable by the car under those conditions is.

Unfortunately, if you’re not Michael Schumacher, getting the car to go that fast is impossible… but here’s where the fun part comes in. The 599XX’s computer can then rate you (the driver) on your performance and tell you how close you are coming to the car’s maximum potential – a humbling experience no doubt.

The car will make its official track debut at Homestead in Florida in March.

Ferrari is rumored to be working on a street legal version of the 599XX called the 599 GTO.

GALLERY: Ferrari 599XX

***See AutoGuide’s LIVE 2010 Detroit Auto Show Coverage Here***

Ferrari will have no official presence at the 2010 Detroit Auto Show, but it will showcase the ultra-rare 599XX model in Chrysler’s booth to help celebrate Fiat’s partnership with Chrysler.

Only 20 599xx models will be made for special track-only use by a select few lucky enough, and rich enough, to own one. The car’s 6.0-liter V12 engine has been reworked to produce 700-hp at 9000 rpm, while new aerodynamics help to deliver 612 lbs of downforce at 124 mph and almost 1,400 lbs of downforce at 186 mph!

One particularly important innovation on the 599XX is Ferrari’s new “Actiflow” technology, that adjusts downforce and drag depending upon how the car is operating. This is achieved through the use of a porous material in the diffuser and two fans in the trunk lid that work to channel air from under the car out through two grilles next to the tail lights. Rather noticeable winglets have also been added to the the are just behind the winds, where the buttresses are located.

The 599XX also uses what Ferrari terms a, “Virtual Race Engineer” that essentially uses all the onboard computers to calculate what the maximum level of performance the car can achieve on a race track. To do this it takes every bit of data available, including tire temperature, tire pressure, engine and coolant temperature (as well as many other variables) and determines what the maximum level of performance capable by the car under those conditions is.

Unfortunately, if you’re not Michael Schumacher, getting the car to go that fast is impossible… but here’s where the fun part comes in. The 599XX’s computer can then rate you (the driver) on your performance and tell you how close you are coming to the car’s maximum potential – a humbling experience no doubt.

The car will make its official track debut at Homestead in Florida in March. Ferrari is rumored to be working on a street legal version of the 599XX called the 599 GTO.

GALLERY: Ferrari 599XX

Official release after the jump: