Enzo Ferrari utilized the long-block V-12 designed by aeronautical engineer Aurelio Lampredi in the debut of the Ferrari 340 America in 1951.  The engine had been previously utilized in Ferrari’s 375 F1 single-seater grand prix racer to combat Alfa Romeo for the top spot.  When used for racing the engine had an increased bore and stroke and elevated compression ratio.  However, these were adjusted to make the Ferrari 340 a more civilized road-ready luxury automobile.

The Ferrari 340 America was available in a variety of open and closed body styles produced by Touring, Ghia, and Vignale.  When ordering a 340 America, the customer could custom tailor their new Ferrari 340 America to their tastes, including whether the car would be used for the track or for the street.

The Ferrari 340 America was soon replaced in 1952 by the Ferrari 342 America.  Since it was the opinion of Ferrari that everything had to be larger and more luxurious in America since it was the land of affluence, the Ferrari 342 America featured a wider track, smoother gearbox, longer wheelbase, revamped engine, and more luxurious features.  The 342 America was also designed by Pininfarina, the first of a long line of Ferrari models to be styled by the top Italian coachbuilding firm.

Ferrari also created four Ferrari 340 Mexicos in the early 1950s for use in Mexico’s Carrera Panamericana race.  Ferrari won the 2,000 mile, five day race in 1951.  The 340 Mexico’s body was designed by Giovanni Michelotti and built by Alfredo Vignali.  Of the four that were built, three were coupes and one was a spyder.  The 340 Mexico’s engine was a re-worked 340 America 4.1 liter V12 designed by Aurelio Lampredi.  However, the Mexico’s added 60 horse power that boosted it up to a 280 horse power total.  Ferrari also dropped the 340 America’s four speed transmission for a five speed in the 340 Mexico.