Ferrari partnered with Alcoa to produce an entirely new all-aluminum space-frame chassis that was 40% stiffer than its predecessor's which had utilized steel.

Along with a lightweight frame the new Pininfarina body styling deviated from traditions of the previous decade's sharp angles and flip-up headlights.

The Challenge Stradale was the high-performance road-legal version of the 360 produced by the factory, featuring carbon ceramic brakes (from the Enzo), track-tuned suspension, aerodynamic gains, weight reduction, power improvements and revised gearbox software among its track-focused brief.

The race cars were all derived from the 360 Modena and for the first time produced as a separate model in their own right (compared to being a retrofit kit in previous years).

The 360 was designed with a convertible variant in mind; since removing the roof of a coupe reduces the torsional rigidity, the 360 was built for strength in other areas.

As with the Modena version, its 3.6 L (3,586 cc) V8 generating a power output of 400 PS (294 kW; 395 hp) is on display under a glass engine cover.

Ceramic brakes borrowed from the Enzo, some lower weight parts and a FHP handling pack, enabled the Challenge Stradale to claim a 3.5 second improvement per lap of its Fiorano Circuit compared to the Modena.

The Challenge Stradale also got Brembo carbon ceramic brakes as standard (which later became standard fitment on the F430) which shaved 16 kg (35 lb) off the curb weight and improved handling by reducing unsprung weight and completely eliminating brake fade, as well as lightweight wheels specially made by BBS.

The exhaust system was lightened substantially and was one of the main contributions to the increased power output over the standard engine (as ignition mapping was claimed to virtually be the same).

The enhanced driving characteristics and substantial weight reduction meant the car could comfortably outperform its road-going counterpart even though power from the 3.6-litre engine was claimed to be similar.

The 360 Challenge featured a stripped-down race-oriented interior with the stereo, electric windows and locks, soundproofing, airbags, air-conditioning, and even the handbrake removed.

The adaptive suspension of the road car was replaced by adjustable racing dampers, while larger brakes with extra cooling ducts were added.

[20] The most recent major victory achieved by a 360 Michelotto was by SB Race Engineering at the 2011 Britcar Championship, where the 360 N-GT, as on many occasions, outperformed the newer F430 GT.

During the dry/wet Top 10 Runoff for pole position, Bowe and Jones unfortunately got caught in the wet part leaving them only 4th and 5th on the grid, ironically behind the 360 Challenge class G2 car of their 3rd placed team mate Paul Morris who had somewhat better weather conditions for his lap, and part-time driver Sam Newman who got the only dry lap in the runoff and put his PHR Scuderia 360 Challenge on pole by some 6.0448 seconds.

PHR then entered the Ferrari in the 2002 Bathurst 24 Hour race at the famous Mount Panorama Circuit, where Brad Jones put the 360 N-GT on pole position.

Driven by David Brabham, Andrea Montermini, Klaus Engelhorn and Philipp Peter, the Ferrari qualified in 7th place and after running 3rd for a number of hours behind the Holden Monaros, was retired on lap 287.

The 3.6-litre V8 engine was tuned to generate a power output of 436 PS (321 kW; 430 hp) which was a significant improvement over the 360 Challenge cars.

With a kerb weight of 1,100 kg (2,425 lb) (with ballast), it was built since 2004 by Ferrari Corse Clienti department in collaboration with Michelotto Automobili to compete in the N-GT class.

It made use of recent evolutions successfully race tested on the Ferrari 360 GT, with a sequential six-speed gearbox and a further improved Magneti Marelli electronics package.

The aerodynamics are substantially different from the 360 GT, given that the 360 GTC had been newly homologated by FIA/ACO from the Challenge Stradale, taking up from its basic elements: front bumper, side skirts, engine cover and double rear end.