New Ferrari F12 Berlinetta a bargain at just under $700,000

FERRARI'S new F12 Berlinetta sports road car, unveiled in Australia today, at just under $700,000 is an absolute bargain.

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IF WOMEN can justify a new pair of shoes because of how much money they’ve saved, men may have just found the ultimate excuse to buy a Ferrari.

The new F12 Berlinetta unveiled in Sydney today might cost almost $700,000 but it’s actually a bargain.

The fastest and most powerful Ferrari road car ever made is $200,000 cheaper than the previous pinnacle of the Italian sports-car range, the 599 GTO.

The latest Ferrari - air-freighted into Australia overnight ahead of customer previews in Sydney and Melbourne before it jets off to China - has more power than a V8 Supercar.

It can reach 100km/h in 3.1 seconds - the same time it takes most cars to reach 40km/h.

The previous champion Ferrari, the 599 GTO, reached the speed limit in a comparatively tardy 3.35 seconds.

The new Ferrari F12 Berlinetta is going fast in more ways than one; it’s sold for 18 months even though supercar sales are on struggle street at the moment.

"Our market segment has dropped between 16 and 20 per cent,” says Ferrari Australia general manager Kevin Wall. "Suffice to say the downturn is significant, it’s enough to hurt.”

But Ferrari isn't hurting too much.

"We will deliver between 100 and 115 cars this year … and have just delivered our 1000th Ferrari in Australia in seven years," says Wall, citing the number of sales since European Automotive Importers took over the distribution of Ferrari cars locally in October 2005.

By comparison, it took more than 40 years to sell the first 1000 Ferraris in Australia.

Just 2200 Ferraris have been imported into Australia since 1952 – this year is the brand’s 60th anniversary locally.

The first Ferrari sold here was a "canary" yellow ‘212 Export’ coupe, and it is still in the country – in pristine condition.

Ferrari Australia is hosting potential buyers of the new F12 Berlinetta to VIP previews in Sydney and Melbourne this week, including flying some guests over from mining rich West Australia.

If Ferrari Australia reaches its forecast of 115 sales for the year, that will be down from 134 deliveries in 2011 and 126 in 2010.

The F12 Berlinetta is not the cheapest new car to wear a Ferrari badge; that title goes to a special "Ferrari" edition of the Fiat 500, which costs $69,990, roughly twice the price of the regular model.

Fast facts: Ferrari F12 Berlinetta

Price: $691,000 (plus on-road costs)

On sale: June 2013

Engine: 6.3-litre V12 (6262cc)

Power: 545kW at 8250rpm

Torque: 690Nm at 6000rpm

Redline: 8700rpm

Gearbox: Seven-speed twin-clutch auto

0 to 100km/h: 3.1 sec

0 to 200 km/h: 8.5 sec

Weight: 1630kg (46:54 front:rear)

Consumption: 15L/100km (350g/km)