The Ferrari 348 TS: History, Driving Character and Collectability

Few experiences compare to a Ferrari V8 on an open road, and the 348 TS delivers that thrill with unapologetic early-1990s flair. Lift out the targa panel and the sharp bark of its 3.4-litre V8 echoes off everything around you – a red-blooded Italian soundtrack from a car built before electronics began to smooth over the experience.

For years the 348 sat in the shadow of the cars either side of it. Today it is increasingly seen as an important model in its own right: the bridge between the old-school gated-shifter Ferraris and the modern era. This guide looks at where the 348 TS came from, how it drives, and why collectors have started to take it seriously.

Where the 348 TS fits in Ferrari history

The 348 carries a design language clearly influenced by the Testarossa – note the signature side strakes – but on a smaller, more agile and lithe platform. It was offered in two body styles: the coupe, designated TB, and the targa-top TS.

Its place in the timeline is what gives it much of its significance. The 348 is regarded as the last mid-engine V8 Ferrari launched during Enzo Ferrari’s lifetime, and the last of the V8s before modern driver aids became the norm. By the time the F355 and later the 360 Modena arrived, Ferrari had added power steering, more electronics and eventually paddle-shift transmissions. The 348 marks the end of the purely mechanical era.

What the “348 TS” name means

“TS” stands for Trasversale Spider. “Trasversale” refers to the transverse gearbox layout, while “Spider” signifies the removable targa roof panel. The coupe’s TB badge follows the same logic: Trasversale Berlinetta.

Driving character: the analogue V8 Ferrari

The 348 TS is powered by a 3.4-litre naturally aspirated V8 producing around 300 hp. It can reach 100 km/h in roughly 5.6 seconds and go on to a top speed of about 270 km/h. Those figures are modest by modern supercar standards, but the way the power is delivered – a high-revving, naturally aspirated build-up with plenty of noise – is pure driving theatre.

More important than the numbers is the way the car involves its driver. There is no power steering, no traction control and only a classic five-speed gated manual gearbox. The result is an immersive connection between driver, machine and road that many modern supercars, for all their speed, simply do not offer.

Inside the cabin

Slide into the cockpit and the centrepiece is the open-gate metal shifter, surrounded by a cabin trimmed in hand-stitched Italian leather. The toggles, pedals and analogue gauges all reflect Maranello’s racing roots. It is a cabin designed around the act of driving rather than the distractions that came later.

Why collectors now value the 348

Ferrari values have been on a steady climb, particularly for gated manual models from the analogue era, and the 348 TS has followed that trend. Once undervalued, the 348 is now increasingly recognised as a hidden gem.

• Relative rarity: Ferrari produced approximately 4,200 examples of the 348 TS between 1989 and 1994. Fewer 348s were made than the later F355, which saw higher production.
• Historical significance: its status as the last mid-engine V8 launched during Enzo Ferrari’s lifetime adds a layer of history that collectors appreciate.
• The analogue experience: no power steering, no traction control and a gated manual make it a farewell to an era of pure, unfiltered driving.

Market values can always fluctuate, but the general trend for 1990s Ferraris – especially those with gated manuals – suggests a good 348 TS is more likely to hold its value than to fall. Beyond the money, owning one means owning a piece of Ferrari history that rewards you every time you drive it.

What makes a good Ferrari 348 TS

Because the 348 is now valued for its authenticity, the qualities collectors prioritise are the same ones that made it special in the first place:

• Originality: enthusiasts favour cars that remain as Ferrari built them, with the original interior, gearbox and finishes intact.
• Mileage and care: well-preserved, low-mileage examples offer both authenticity and reliability, which adds to their desirability.
• Mechanical soundness: appearance alone is not enough – for any investment-grade sports car, a mechanically sound example is crucial.
• Presentation: Rosso Corsa, Ferrari’s signature red, remains the classic choice and suits the 348’s Testarossa-inspired lines.

As an illustration, the Rosso Corsa 348 TS in our collection shows around 30,000 km and has been preserved almost like a time capsule – the kind of original, carefully owned car the market now rewards.

The 348 TS in Australia

In a country where supercars were once a rarity, the 348 offers Australian enthusiasts a visceral taste of Ferrari heritage – a level of pedigree and engineering finesse that sets it apart. With the targa panel stowed on a warm day, it is also one of the more usable ways to enjoy a classic Ferrari V8 here, rewarding the driver on a weekend run rather than demanding a racetrack.

For collectors and drivers alike, the 348 TS stands as an icon of a bygone era that still shines brightly today.

Tony’s view: an analogue Ferrari to enjoy

Tony values the 348 for the same reason many collectors are coming back to it: it is a raw, mechanical Ferrari with no driver aids to hide behind. As with any Ferrari, the service history decides whether it is a good buy.

The 1991 Ferrari 348 TS in the collection is left-hand drive, and the 1996 F355 Spider shows where the story went next. Tony can search for a specific Ferrari or import one, and help you sell yours.

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Frequently asked questions

What does the “348 TS” name stand for?

The “TS” stands for Trasversale Spider. “Trasversale” refers to the transverse gearbox layout and “Spider” to the removable targa roof panel. The coupe version was called the TB, for Trasversale Berlinetta.

How many Ferrari 348 TS cars were made?

Ferrari produced approximately 4,200 units of the 348 TS between 1989 and 1994. That makes it relatively rare, especially compared with its successor, the F355, which saw higher production. Low-mileage, original examples are rarer still.

How fast is the Ferrari 348 TS?

Its 3.4-litre V8 produces around 300 hp, enough for 0–100 km/h in roughly 5.6 seconds and a top speed of about 270 km/h. The high-revving, naturally aspirated delivery is as much a part of its appeal as the outright pace.

Why is the 348 considered the last analogue Ferrari V8?

The 348 was the final mid-engine V8 Ferrari before modern driver aids became the norm. It has no power steering, no traction control and a traditional manual gearbox with no paddle-shift option. The F355 and 360 Modena that followed added power steering, more electronics and later paddle-shift transmissions.

How does the 348 TS compare with the F355?

The F355 is the more modern car, with power steering and more electronic assistance, and it was built in greater numbers. The 348 TS is rawer and more mechanical, and its lower production and position as the last analogue V8 are a large part of why collectors have come to appreciate it.

Is the Ferrari 348 TS collectable?

Many collectors consider a well-maintained 348 TS a sound long-term proposition. Prices for clean, original examples have been gradually rising as enthusiasts recognise its significance and analogue charm, although market values can fluctuate.