Introduced in 1989, the Ferrari 348 had a lot to live up to, as it was to replace one of the most successful models in Ferrari history, the 308 and the 328. The unveiling of the new Ferrari 348 design at the Frankfurt Motor Show was well-received overall. However, some enthusiasts were critical of its exterior design, in particular, the ‘Testarossa’ style side strakes, which divided opinion.

Without a doubt, the 348 was an improvement over its predecessor and was a better performer. Moreover, the 348 was significant in Ferrari history as it marked the beginning of a new decade. Production of the 348 lasted until 1995 before being replaced by the Ferrari 355.

The 348 was the last mid-engine V8 Ferrari under the supervision of Enzo Ferrari before his passing. Although the engine of the 348 was glorious, the handling was reportedly less than impressive and quickly became the 348’s Achilles heel. Furthermore, these issues became well-publicized within the automotive world and tarnished the image of the baby Testarossa.

It should be noted, the time at which the 348 appeared in the showrooms could not have been worse. Honda unveiled the superb NSX the very same year as the 348, further adding to its woes. Not only was the NSX a modern sports car, it was reliable, fast, and inexpensive. In hindsight, it may have been beneficial for Ferrari to have introduced the 348 much earlier. However, the engineers at Maranello persevered to develop the 348, making those vital improvements.

The Testarossa-inspired 348 was once an affordable entry point into Ferrari ownership. However, it may not remain that way for much longer.

The Ferrari 348 Was A Baby Testarossa

Visually, the Ferrari 348 appeared to be a fresh departure from the curvaceous 308/328 series cars, although it carried the same fundamental appeal. Designed by Pininfarina, the prancing horse looked more similar to its stablemate, the gorgeous Ferrari Testarossa. Indeed, the 348 adopted similar touches from the Testarossa, such as the slated air intakes on either side of the car, which provided cool air to the engine’s twin radiators. Not forgetting those slated tail lamps, which were debatable at the time.

However, the styling of the Ferrari did not only divide opinion; many Ferrari enthusiasts deemed the 348 as looking outdated. Either way, this Ferrari had those fabulous flip-up headlamps, as well as an aggressive low stance sitting on 17-inch five-spoke alloys. Furthermore, the 348 came in three body styles: the 348 tb (Coupe), the 348 ts (Targa), and the Spider convertible.

The Ferrari 348 used a monocoque chassis for the first time in any Ferrari road car. This was done to improve rigidity. In addition, the luxury interior of the 348 was certainly an improvement over the previous car. Standard equipment included leather seats, air conditioning, electric windows, and mirrors with leather touches adorning the cabin.

It Was Relatively Light And Had A Stiff Construction

The Ferrari 348 featured a naturally aspirated 3.4-liter quad-cam V8. The engine was mounted longitudinally and placed lower in the chassis. Moreover, the prancing horse developed over 300 hp and 324 lb-ft of torque which accelerated the Ferrari from 0-60 mph in 5.6 seconds, almost a second quicker than its predecessor, and had a top speed of 171 mph. Also, the exhaust sound of the 348 had a symphony similar to that of an F1 car.

More importantly, the 5-speed transmission was set up transversely, hence the ‘t’ in tb standing for ‘Transverse Berlinetta’. Weighing in at around 3,020 lbs, the 348 was lighter and had a stiffer construction. No doubt, this was a far more capable Ferrari than the outgoing 328 with improved aerodynamics. Although the lack of power steering was evident, all 348 models were fitted with dual ABS brakes and a computer engine management system.

It can be said, the driving characteristics of the 348 weakened the enthusiasm of many buyers. Critically, it was the earlier vehicles that were reported to have uncontrollable pronounced oversteer when pushed hard. Though, many owners believed that if driven intelligently, the 348’s overall performance was rewarding. Ferrari, however, rectified most of the 348’s teething problems throughout its life, addressing issues of handling dynamics and improving build quality that shadowed earlier models.

The 348 Is Relatively Affordable (For Now)

It’s true to say that the Ferrari 348 is an affordable entry point into Ferrari ownership. Indeed, a timeless design with a wonderful V8. It should be noted, the price of a 348 when new was approximately $131,000. Although this Ferrari didn’t hold its value too well, the flipside was it benefited exotic car collectors.

Current reports, however, reveal that prices are climbing. According to Hagerty, a low mileage Ferrari 348 tb today can start from $58,200 and rise to $75,000. Obviously, later versions of the 348, namely the GTB and Spider, are valued much higher due to their revised handling, better reliability, and being slightly quicker off the line. Therefore, the later 1993–1995 cars are sensible buys. Interesting to note is that Ferrari only built a thousand units each of the GTS and the Spider and reportedly just over 600 units of the GTB.

There were, however, some special editions of the 348, such as the Speciale and the even rarer GT Competizione, which of only 50 homologation specials were produced. In fact, a Ferrari 348 GT Competizione sold in excess of $200,000 at RM Auctions in 2021.

The Ferrari 348 should be given merit for its sharp looks and performance, controversial or not. This prancing horse has character, sophistication and will remain an interesting milestone in Ferrari history.