The production 575's tubular steel box-section chassis has had its wheelbase extended by 20mm (to 2520mm) whilst double wishbone suspension features adjustable damping. At the front is an adjustable roll bar and anti-dive geometry. Track has been substantially widened and the wheelarches filled with Pirelli-shod 18-inch diameter OZ Racing wheels of 12 and 13 inch widths front / rear. Weight has been reduced to 1150kg (compared to the 1690kg road car), braking coming courtesy of huge Brembo ventilated discs with six calipers at the front and four at the rear. Engine-wise, Ferrari use an all alloy 65° V12 that, thanks to a bore and stroke of 90 x 78.6mm (compared to 89 x 77mm), has risen from 5748 to 5997cc. Trick cam timing, Marelli MR5 engine management and a compression ratio set at 12.9:1 help produce 605bhp at 6000rpm, this despite mandatory 31.8mm air restrictors sapping around 10%. With a six-speed sequential gearbox and triple plate carbon clutch, the 575 GTC can hit 208mph flat out and sprint from 0-60 in just 3.3 seconds. Meanwhile, the bodywork has clearly been influenced by lessons learnt with Italtecnica and Prodrive-built 550 GT's, lengthy windtunnel testing dictating its all-composite final form. Supplementary wings, ducts and vents have been fixed on and carved in, perhaps the GTC's most striking feature being that prominent rear diffuser staring out from the back.

Run for the first time during August 2003 with touring car veteran Giorgio Francia at the wheel, these early outings took place at N-Technology's test track and then subsequently moved on to Alfa Romeo's Balocco proving ground. The GTC was then shown on the Ferrari stand at the 60th Frankfurt Motor Show during September 2003 where its €700,000 price tag caused a stir. Further testing was then carried out with Fabio Babini before the car made its winning debut at Estoril in October 2003.