In 1999, the Ferrari 360 debuted as an entry-level vehicle in the Italian sports car builders product line-up. A design created by Pininfarina, the body shell of the Ferrari 360 departed from the flip-up headlights used on its predecessor, the F355. Constructed on an all-aluminum frame, the Ferrari 360s total weight was 130 pounds less than the vehicle it replaced. The hardtop Ferrari 360 was named the Modena (company founder Enzo Ferraris place of birth). Located behind the Ferrari 360s two-passenger cabin was a 3.6-liter V-8 engine. Generating 400 horsepower, the powerplant featured five valves per cylinder and was equipped with a dry sump oiling system. A traditional six-speed manual gearbox was offered on the base Ferrari 360 while an electro-hydraulic six-speed transmission was equipped on the F1 model.
The 360 Modena F1 utilized racing technology for quick performance shifting through a steering wheel mounted paddle shifter setup. For 2001, an open-top version of the Ferrari 360 was added. Gaining additional rigidity, the 2001 Ferrari 360 Spider was fitted with a power-operated soft top. On all versions of the 360 sports car, the longitudinally mounted powerplant was clearly displayed under a Lexan rear window. On the 360 Spider, a clear window was fashioned into the hood providing visible sight of the engine.
For 2003, the 360 Modena and 360 Spider added the Challenge Stradale version. Shedding up to 243 pounds, the Ferrari 360 Modena and 360 Spider Challenge Stradale removed the stereo system, added Alcantara interior fabric and featured carbon composite material brakes developed in partnership with Brembo. The Ferrari 430 sports car replaced the 360 line-up.