In the early 1960's Porsche sought to keep its aging 356 Carrera GTs competitive. The company chose Carlo Abarth to design and the Viarengo & Filippoini Coachworks to build a new lightweight streamlined body. The new body was approximately five inches lower and narrower and shorter by the same amount. These changes resulted in a car that had a 15% reduction in frontal area, weighed 100 pounds less and quickly proved itself competitive.

The car displayed is one of three factory team cars. It finished first in class at Sebring in 1962 and 1963 with Dan Gurney and Bob Holbert driving. It was also first in class and second in class at Le Mans in 1961 and 1962 respectively. It was also finished second in class and first in class respectively at the Targa Florio in 1961 and 1962. In addition, the car has collected numerous overall and class wins in circuit and hill climb races throughout Europe and the United States.