Another Ferrari model has gone down in flames. This time the victim was Ferrari's brand new V12-powered FF with the incident taking place close to the Shanghai World Expo Avenue in China this past Saturday.

China's WZRB reported that according to eyewitness accounts, the Ferrari FF, which features a front-mid mounted 651bhp V12 engine, was cruising along the road when all of a sudden smoke and flames started coming out from under the car.

By-passers notified the driver who immediately stopped on the side of the road and quickly removed his belongings before calling the fire department.

Bio-ethanol E85 (up to 85% ethanol and 15% gasoline) conversions are nothing new in the auto industry but you don't see it happening everyday on brand new supercars of the likes of the Ferrari FF, which is why this project caught our attention.

According to the reports, the conversion to allow the Ferrari's V12 engine to run on E85 fuel comes from Norwegian firm Customized.no and it costs just €1,500 or nearly US$2,000.

On regular fuel, the 6.3-liter lump delivers 660PS (651bhp) emitting 360 gr/km of CO2 emissions and accelerating the FF from zero to 100km/h (62mph) in 3.7 seconds.

With testing prohibited by FIA rules until the first official session at Jerez on February 7, Ferrari’s Formula 1 team took a break from preparing its 2012 racer and as usual, visited the Madonna di Campiglio alpine ski resort.

It’s a tradition that’s being going on for many years now (if you’re an F1 fan, you’ll surely remember Michael Schumacher’s exploits) and this time the Scuderia F1 drivers, Fernando Alonso and Felipe Massa, had a little fun on the snow-covered slopes.

Less than a month ago, we showed you the Ferrari FF Neiman Marcus Edition, which was this Christmas’ “Fantasy Gift” in the famous catalog, commanding a hefty US$95,000 premium over the stock car’s US$300,000 MSRP.

The close to $400k-price tag got you a unique "Grigio Gallo" paint, semi-aniline leather, a matching luggage set and a numbered interior plaque, plus participation in Ferraris Aspen, Colorado Driving Experience.

The Ferrari FF hasn't been on the market for more than a few months yet there's already a case of one example catching fire.

According to reports from Germany, a 44-year old owner was out test-driving the FF on a motorway in Frankfurt in early October when he suddenly heard a "loud bang" and noticed flames coming out of the rear of the Italian supercar.

The driver then stopped over on the side of the road and saw what a €370,000 supercar getting roasted looks like.

While protestors continue to Occupy Wall Street, Neiman Marcus thought it would be a good idea to release its annual Christmas Book, offering bankers, financers and other associated individuals of extreme wealth the opportunity to get ready for their holiday shopping.

The catalogue has many choices for the 1 percent that has been doing extremely well these past few years defying the economic crisis, including a limited production version of the new 2012 Ferrari FF.

Premium automakers like Ferrari that sell some of the most expensive automobiles money can buy in this world, have the opportunity to present their cars in ways other makers only dream of.

To mark the beginning of sales of the brand-new FF gran turismo in South Korea, the Italian brand held a unique launch event at the Tree Club & Spa, which a luxurious five-star resort located in downtown Seoul.

Some things just don't make sense, no matter how vivid your imagination is. Envision Land Rover racing at Le Mans, or Maserati manufacturing an SUV. Doesn’t it sound absurd? Actually, scratch the last example about Maserati: it will actually happen.

Well, up until recently, you wouldn’t imagine a four-wheel drive Ferrari either. Thankfully, despite sporting the 4RM AWD system, the FF remains a pure sports car. Now, Ferrari wants to show its versatility to its American customers, so it’s adapting its “Pilota on Ice” driving program for the US.