Taking it up a gear: Engineer turns mass-produced Ferrari into replica of classic model worth £655,000

An ambitious engineer has taken a Ferrari worth £30,000 and converted into a £655,000 homage to one of the company's rarest vehicles.

Classic car enthusiast Arturo Alonso has transformed a run-of-the-mill Ferrari 456 into a classic Ferrari 340 Mexico Berlinetta.

The flamboyant designer spends his time recreating classic models with a modern twist, but this may be his most interesting project yet.

Recreated: Arturo Alonso's Ferrari 340 replica, which has been fashioned from the chassis of a £30,000 Ferrari 456

Classic poise: Mr Alonso spends his time recreating classic cars with a modern twist, but the flamboyant designer may have pulled off his most interesting project yet

Launched in 1952, the Ferrari 340 was designed for the legendary Carrera Panamericana road race in Mexico and was limited to just three models.

Mr Alonso enlisted the help of Australian coachbuilder Mark Nungent to re-body the 456, converting it from a bland-looking sports car into a classic replica.

It retains the donor car's mechanicals with power coming from a 5.4-litre V12 engine boasting 476bhp to give it a top speed of around 185mph.

Mr Alonso, who owns Texas-based classic car recreation company Gullwing-America, has also remodelled the car's interior and fitted new wheels and brakes.

Vroom: The replica classic has a 5.4-litre V12 engine boasting 476bhp to give it a top speed of around 185mph

He said: 'I've designed this car as a tribute to the amazing race and the Ferrari Mexico.

'It's a retro car but with modern technology and there will probably only be one ever made.'

As with most classic Ferraris, time has been good to the Mexico's price-tag with one model selling in March for a staggering £2.7million ($4.3million).

The GWA version will set a prospective owner back £655,000.

Super rare: An original Ferrari 340, of which only three were made. One sold in March for a staggering £2.7million ($4.3million)

Keith Adams, assistant editor of Octane Magazine, said: 'This is a homage, pure and simple, and should be seen as nothing more, nothing less.

'And on that level, it's a great looking modern-day hot-rod with strong styling links with the past. Is it worthy of a Ferrari badge? Absolutely not.

'But its existence certainly proves there's still keen interest in the classic car scene.'