The 5.5 L V12 engine won the "over 4 litre" class of the International Engine of the Year award for 2000 and 2001.

The 550 Maranello can accelerate to 60 mph (97 km/h) in 4.2 seconds and can reach 161 kilometres per hour (100 mph)in 9.6 seconds. The ¼ mile (0.4 km) time is 12.5 seconds at 116.9 mph [2]. The top speed is 320.3 kilometers per hour (199.0 mph).