Ferrari teases next California

Ferrari is set to reveal a new, or possibly improved, vehicle on Feb. 12. It will be the world premiere of the “149M Project”, which Internet rumors have pegged as a (M)odified version of the current California drop-top. It would follow in the footsteps of the 550 Maranello, which was upgraded to the 575M.

The model will most likely come with a couple of turbochargers, according to reports at Autocar, with the 3.8-liter V8 making about 550 hp. That engine is currently used in Maserati's Quattroporte and Ghibli models.

The styling should be inspired by the F12 Berlinetta, though Autocar says the shape of the headlights are borrowed from the 458 Italia.

Ferrari reportedly wants to reduce production of the California replacement to about 500 units per year to maintain exclusivity. Pricing is rumored to be the same as the current model.

Click here for some two-tone spy shots, and check out this FerrariChat message board for a rundown from a so-called insider who says he has firsthand knowledge of the car. We'll be poised and ready for the news on Feb. 12.

By Jake Lingeman