Ferrari has today announced what can only be described as a major change in their strategy. With current massive over production in the car industry Fiat, Ferrari’s parent organisation, have forced Ferrari to look at their current model line up with a radical eye on the future and future profitability. Ferrari, with immediate effect, will be discontinuing the manufacture of their 575 model range, putting all of the production capacity this frees into running out the existing forward orders of their 360 range. The 360 model range will also be trimmed to include only the 360 Spider and the 360 Challenge Stradale, with all models only being available with Ferrari’s racing derived F1 gearbox. Production of the 360 replacement, the 420 Monza, has also been announced with first shipments due before the end of 2004. The 420 Monza is a 2+2 seater, mid engine sports car based largely on the existing 360 Modena but powered by a 4.2 litre Masserati engine. Designed to be a volume production sports car prices have been announced to start at around $75000. To reflect the change in strategy and the move into the higher volume sports car market, Ferrari and Masserati will merge to become Massarri Spa.