The California is the newest Ferrari model to come out of the Pininfarina design studio, and will be the first ever front V8-engined chariot to wear the highly desired Prancing Horse badge. It revives a name from the brand's past, adorning the rump of the 250GT built between 1957 and 1959. Some of us may remember a replica of one such model getting destroyed on the big screen in Ferris Bueller's Day Off.

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"The Ferrari California is aimed at owners who desire a car which embodies everything the Prancing Horse represents in terms of sporty design and innovation, but also seek a car with greater versatility than ever," the automaker said in a press release.

Let's get the oily bits out of the way first: Power will come from a 4.3-liter direct-injected V8, wailing out 454 horsepower at 7,600rpm. It will endow the car with a top speed of 193mph, Ferrari claims. Acceleration to the 62 mph benchmark is expected to take less than 4.0 seconds. Like in the company's 612 Scaglietti four-seater Grand Touring car, the engine sits entirely behind the front axle for a more balanced weight distribution.

Another first will include a new, seven-speed dual-clutch transmission mating to the engine, with shifts expected to take just as little time as with the automaker's earlier F1-derived automated manual transmissions, but adding smoothness to the process as well.

Reigning in the momentum generated by the above-mentioned partners in crime will be standard carbon ceramic brakes at all corners, which would also keep the forged alloy wheels clean of brake dust.

While the chassis and mechanicals are related to Maserati's Gran Turismo and the Alfa Romeo 8C, the California will be the only one of the triplets to feature a folding hardtop exclusively. The GT will sport a pair of cramped back seats and while small and 'only' sporting a V8, should be priced slightly below the exotic carmaker's four-seat 612 Scaglietti, which lists at about $270,000. Ferrari could ask anywhere from $200,000 to $250,000 for the car and get away with it, based on the public's reaction to its looks alone. The four-seat Maserati GranTurismo S, with less power and a lot less panache, lists for around $140,000.

Interestingly enough, the new Ferrari model actually started out life as a Maserati. The new model was developed under the codename M139 -- M for Maserati -- and was intended to complete Maserati's current lineup -- giving the Italian Marque the Quattroporte sports sedan, the GranTurismo coupe and a hardtop convertible. But after Ferrari's 2005 split from Maserati, Ferrari decided to keep the M139 program entirely for itself. As a result, the California rides on the GranTurismo platform.