Ferrari's newest convertible is its quickest ever. The Ferrari F430 16M Scuderia Spider weighs 1340kg, has a 510hp engine, and hits 100 km/h in 3.7 seconds.

Ferrari's latest "best car ever" has just been introduced at the Bologna Motor Show in Italy. The Ferrari 430 16M Scuderia Spider comes with a power hardtop, which brings the weight of the F430 Scuderia Spider to 1340kg, down a full 80kg. A dual-clutch 7-speed transmission helps to improve driver control of the 510hp 4.3-liter V8.

Built as a mid-rear-engined high performance sports car, the Scuderia Spider 16M claimed a faster laptime at Fiorano than any other Ferrari convertible built to date.

You have two color choices for the car you can't afford: black with grey trim, or a tricolour livery made possible through the Carrozzeria Scaglietti Personalisation Programme. The convertible also comes with a commemorative plaque mounted to the rear grille, celebrating Ferrari's 16th Constructor's World Title.

0-100 km/h (62mph) time in only 3.7 seconds, and a top speed of 315 km/h (196 mph) makes this a truly special convertible. Emphasizing this, Ferrari has announced that the plant in Maranello will only produce 499 units of the Ferrari 430 16M Scuderia Spider, just like the Scuderia.

Gallery: Ferrari 430 Scuderia Spider 16M Unveiled at Bologna Motor Show