Now with a pair of turbochargers, Maranello’s V8-powered 488 GTB (Gran Turismo Berlinetta) is a hark back to the old wall poster-worthy 308 GTB.

Guaranteed to be part of any wealthy person’s stable, the new Ferrari to be seen in is here on our tiny island. Launched at Ital Auto Pte Ltd, the 488 GTB (seen here in Grigio Ferro Metallizzato paint) is now powered by a 3.9-liter twin-turbo V8 that produces a whopping 660 bhp and 760 Nm of torque (that’s about 10% more than the 458 Speciale). If you’re wondering, the car gets its name from the eight-cylinder engine it uses - each with a 488 cc capacity. 

See the 488 GTB rev its V8 in our video section.

All that power is sent to the rear wheels via a 7-speed F1 dual-clutch tranny derived from the 458. It features a Variable Torque Management system and the gear ratios have been tuned to make it one of the most responsive Ferraris to date (I’m not really sure how much more responsive you’d need a supercar to be though).

They get faster and faster. The 488 GTB will go from 0-100 km/h in 3.0 seconds flat, and get this, 0-200 km/h in 8.4 seconds. The 488 GTB also lapped the Fiorano test track in 1 min 23 seconds. That's two seconds faster than the 458 and 0.5 seconds quicker than the Speciale.

A new Side Slip Control 2 (SSC2) system now controls the active dampers as well as the E-Diff and F1-Trac. This aims to sort out stability issues in case 'less expert drivers' (as Ferrari puts it) get overly enthusiastic on the track.

The 488 GTB is yours for just under a million dollars. For most, it may seem like a ridiculous price to pay for a car. But considering how prices of supercars have escalated over the past few months here in Singapore. The 488 GTB should come across as a steal to those who can afford it.