At the end of the 1965 Formula One season, a Ferrari 158 chassis was fitted with a 2.4-litre (2404.74 cc) Dino V6 engine, updated with fuel-injection, in order to take part in the 1966 Tasman Series.

However, intended driver John Surtees was still recovering from injuries sustained in an accident in a Can-Am race at Mosport Park, and the Tasman entry was withdrawn.

The car was then put aside until the German Grand Prix, where it was a third team entry driven by Ludovico Scarfiotti.

The final outing for the 246T was the 1966 Italian Grand Prix, lent by Ferrari to Reg Parnell Racing and driven by Giancarlo Baghetti.

Baghetti was running as high as fifth until he had problems with his throttle linkage and eventually finished last, nine laps in arrears.