In 1989 Ferrari introduced the successor to the highly successful 308 and 328. The 348 continued the styling of the 328 and incorporated design inspiration from the Testarossa. Pininfarina was tasked with performing the styling updates. Mounted longitudinally in the rear was a 3.4 liter Bosch Motronic fuel-injected eight-cylinder that produced over 300 horsepower. The five-speed manual gearbox was mounted transversely onto the engine. The naming convention of the vehicle, 348, represents the engine size of 3.4 liter and 8-cylinder. S represents Spider or targa while B meant Berlinetta or coupe.

Produced for five years, the 348 was offered in various trim and editions. One of these, the 348 Challenge series was intended to be raced by Ferrari customers in a one model racing series. The improvements to the car meant it was suitable for the track but could be driven on the road.

With 320 horsepower on tap, the nearly 3000 pound vehicle could race from zero-to-sixty in just 6 seconds with a top speed of around 170 mph.

by Dan Vaughan