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Ferrari rolled out the Portofino M, a modified version of its top-selling gran tourer, on Wednesday as the Italian sportscar maker pursues a rapid turn over of new models despite the coronavirus crisis. The new car, the first to be launched since Ferrari shut its operations for seven weeks during a COVID-19 lockdown, was launched online, with video presentations outlining its restyling and technical innovations. The Portofino M convertible grand tourer (GT) features a redesigned powertrain, eight-speed gearbox and a five-position Manettino switch that includes a race mode.
Ferrari (NYSE: RACE) is a luxury car company that produces some of the world's most sophisticated and technologically advanced cars on the market. The company is also a prominent figure in Formula 1 racing, makes engines for Maserati, and has even licensed its brand for consumer products such as hats and T-shirts. As a result, Ferrari shut down its operations for much of the first half of the year, which led to significant disruption in production and cash flow.