Ferrari had launched the 575M at the Geneva Motor Motor Show in March 2002. Its name referenced an enlarged 5.75-litre engine and further enhanced Modificata specification. Indeed, practically every area of the 550 was improved for this latest iteration; in addition to its bigger, more powerful engine, the 575M’s suspension, brakes and styling came in for considerable attention.  

Ferrari also offered the new machine with an optional F1 semi-automatic paddle-shift gearbox which was a first for one of their V12 models.

The Superamerica featured the "Revocromico" rotating glass roof and only 559 units were produced, with a small fraction equipped with the HGTC package (arguably the most sought after version).