Ferrari 575m Maranello

Slow down, drop two gears and the bark of the engine acts like a teacher cracking a cane. Other cars fall meekly into line like scolded schoolchildren as the Ferrari glides by. From behind the wheel, it's clear that this is much more than just a car. It's a national hero.

Ferrari has responded to the threat posed by the likes of Britain's Aston Martin Vanquish and Germany's forthcoming Mercedes SLR with a new flagship Grand Tourer. On sale in the UK next month, it's a development of the stunning 550 Maranello launched in 1996. This latest evolution of the luxury GT sees the enormous 485bhp 5.5-litre engine replaced by an even bigger 515bhp 5.75-litre V12.

Christened the 575M Maranello, it's the most powerful road car Ferrari has ever built. The number 575 refers to the engine displacement, the letter M stands for 'modified' to highlight the fact that each and every aspect of the newcomer has been worked on.

Ferrari is giving customers greater choice than before, too. As well as an optional six-speed semi-automatic F1-style gearbox being offered for the first time, a stripped-out race-style interior is available. Externally, the 575M's styling is similar to the 550's. A subtly updated new front features a larger bonnet air intake and revised spoiler, while the headlights and wheels have been redesigned. Changes are more radical under the skin. The increased capacity of the V12 not only boosts power, it raises torque by 20Nm to 589Nm. As a result, the Ferrari, which weighs 1,730kg, sprints from 0-60mph in 4.2 seconds and tops 200mph.

To be certain that this extra power can be controlled, Ferrari's engineers have developed an adaptive handling system featuring individually controlled suspension dampers, which are capable of adjusting to cope with different driving conditions. A Comfort mode delivers a more refined ride than that of the 550, while switching to Sport stiffens the settings to boost traction.

Twist the ignition key and the electric starter motor sends a burst of high-pitched sound through the cabin before the V12 spins purposefully into life. With your foot on the brake pedal, squeeze the gearshift paddle marked 'up' and a digital display in the rev counter registers first gear.

Squeeze the throttle gently and the 575M slithers away from rest with the refinement of a limousine. Don't let this lull you into thinking that the Ferrari is all show and no go. Jab at the throttle and the rear wheels respond immediately - spinning away power in lower gears before launching the car at the horizon. The new suspension set-up proves equally impressive, absorbing the worst of the road's imperfections without sacrificing body control.

Engaging the Sport mode further improves the car's poise by reducing body roll. Together with the car's ultra- direct steering, the suspension ensures that the 575 is a rewarding machine to drive fast, but it needs to be treated with the utmost respect if you're travelling on wet roads. Even with the traction control switched on, the 19-inch wheels can quickly lose grip.

When the electronic safeguards are switched off, oversteer comes as standard through tight corners, while over-enthusiastic throttle inputs in fast and sweeping bends can cause the Ferrari to squirm. However, the uprated brakes are incredibly impressive and remain fade-free after even the hardest use.

Our one reservation about the newcomer centres on the semi-automatic gearbox. Although it makes the car faster than the manual 575M, the performance advantage is minimal, while the cost to the Maranello's character is much more marked. The paddle-shift change somehow manages to make the driving experience feel more frantic, which encourages you to make greater use of the gears. That's fine in a car such as the 360, but it's not so appealing in a GT like the 575M.

At £160,845, the F1 Maranello is a car for the extremely wealthy, although that does not mean customers won't raise their eyebrows at being asked to pay an additional £6,495 for the semi-auto. However, it seems Ferrari is on the right track with its F1-style gearboxes. Nearly 80 per cent of Maranello orders taken so far are from buyers wanting semi-automatic models.

And they are unlikely to be disappointed. Few cars we have driven this year have proved more intense than the 575M Maranello. The Italians have every right to feel proud.