The F430 is a technical masterpiece, with a new six-speed F1 gearbox called "Impulse".  It also comes with a electronic differential, which can be controlled internally by the driver through a knob on the steering wheel.

In accordance with the exterior, the interior has also undergone changes with a new steering wheel and centre consol being the most obvious.  Compared to the 360 Modena, the F430's interior has sportier overtones.  The steering wheel is more adjustable, whilst the speedometer background is available in yellow or red.  The centre console is also available in either aluminium or carbon finish.

With the European version of the car developing 490 bhp, the 1,350 kg (dry weight) F430 has a power-to-weight ratio equal to that of the 360 Challenge Stradale.  

Performance is stunning, with the sprint from 0-96 km/h (0-60 mph) taking only 3.95 seconds.  0-160 km/h (0-100 mph) takes 9.20 seconds, whilst 0-242 km/h (0-150 mph) takes 21.4 seconds.  The car does the standing quarter mile in 12.8 seconds at 190 km/h (118 mph), whilst the top speed lies at 315 km/h (197 mph).  Optional CCM Brembo carbon-ceramic brakes help ensure that this power remains under control.

The new F430 will be priced 4% higher than the outgoing 360 Modena, and first deliveries in Europe are scheduled in late October and the beginning of November 2004.  Ferrari plans that the Spider and Challenge versions will debut roughly one year after the launch of the coupe.  A Challenge Stradale version remains as yet undecided.