The Ferrari 328 replaced the long successful run of the Ferrari 308 GTB in 1985. The Ferrari 328 was largely based on the immensely popular 308 GTB but significant modifications were made to improve the engine and body styling. Pininfarina modernized the Ferrari 328 from the 308's design by giving the car an even lower appearance, though the roof was almost exactly the same height at the 308. An optional rear spoiler also contributed to this look and was designed to guide air over the rear of the cabin.

Unlike the Ferrari 308 GTB which had a 3.0 liter V8, the Ferrari 328 stepped up to a 3.2 liter V8 that was also a mid-engine design, bored and stroked, with an engine-cooling grill. The engine had a displacement of 3,185 cc's and had four valves per cylinder for a total of 32 valves. This brought the 328's horsepower to 270 with 231 pounds of torque. The 328's top speed was 166 miles per hour (267 kilometers per hour) and could reach 60 miles per hour (97 kilometers per hour) from a stand-still in just 5.5 seconds. It could travel from 0-100 miles per hour (161 kilometers per hour) in 13 seconds flat. The 328 had rack and pinion steering and a 5-speed manual transmission with ZF self-locking differential. Both the rear and front suspensions were double-wishbone and independent and included telescopic dampers, anti-roll bars, and coil springs.

The Ferrari 328's body was constructed mainly of steel although the front hood was aluminum and the floor pan was constructed of fiberglass-sandwiched steel. Fiberglass was also used for the inner wheel arches and some of the louvers and valance panels were constructed of a strong ABS plastic.

There were 7,400 Ferrari 328s manufactured from 1985 to 1989 bringing the total number of 308/328s that were produced up to almost a staggering 20,000 units. Out of that total number of 328 GTB's, 3,421 were targa-topped 328 GTS's. The Ferrari 328 sold for up to $62,500 in 1985 in the United States with the “gas-guzzler tax” included.

errari ultimately replaced the popular Ferrari 328 with its successor, the Ferrari 348 in 1989. The Ferrari 348 improved on the 328's styling cues and was a much better performer overall