2004 DETROIT AUTO SHOW: Ferrari Intros 540 HP V-12 Scaglietti

DETROIT January 5, 2004; The AP reported that celebrating the 50th year of the Ferrari in the United States, the sports car maker on Monday unveiled the 612 Scaglietti -- a sleek powerhouse with seating for four.

The Scaglietti generates 540 horsepower from the 12-cylinder engine and can travel more than 196 miles per hour, said Ferrari president Luca di Montezemolo.

In honor of the Ferrari's milestone on American soil, Montezemolo said the company's cars sold in 2004 will feature a new twist on its classic logo that adds red, white and blue.

"This is the reason why we wanted to present this car ... in Detroit," said Montezemolo.

Ferrari said its North American sales improved in 2003. It delivered 1,350 cars to North American customers -- a 13 percent increase.