Parkers overall rating: 4.8 out of 5 4.8

Miles per pound (mpp) Miles per pound (mpp)

Reliable fuel consumption data for comparison purposes is not available for this model.

Fuel economy

  • More economical than outgoing 458
  • Real-world figure close to 20mpg
  • No aspect of 488 ownership is cheap

No start/stop system in the world is going to bless a 670hp V8-engined sports car with low running costs, so don’t expect to run a Ferrari 488 frugally.

Only the GTB is available so far – longer-term it will likely prove to be the most cost-effective version to run – with a claimed average fuel consumption of 24.8mpg. During our elongated test we averaged 19.5mpg, but admittedly that was driving it harder than most owners would in typical driving, so 20mpg should be achievable.

With CO2 emissions of 260g/km it also falls into the highest band of VED car tax.

Also be aware that the 488 GTB is designed to run on 98 RON super unleaded petrol, so expect to shell out more on each refill.

It’s not just high fuel costs – ensure your eyes are wide open when you begin to consider the cost of insurance, servicing and components such as tyres. On the plus side, those carbon ceramic brakes should last the life of the car, providing they’re not subjected to regular and extreme use.

  • Slightly lower CO2 emissions than 458…
  • Remains in the highest VED car tax band
  • No F1-style hybrid technology for 488

Despite a turbocharged engine to promote efficiency and standard the High Emotion, Low Emission (HELE) start/stop system, emissions from the Ferrari 488’s twin tailpipes are still on the high side at 260g/km of CO2. That places it in the highest band for VED car tax.

  • Already subjected to a VOSA recall
  • Growing expertise with turbo engines
  • Comprehensive warranty and servicing package

It’s fair to say that over the years the Italian marque’s reliability reputation has been far from bulletproof, but we are expecting better things from the Ferrari 488.

As it’s based heavily on its 458 predecessor, many of the niggles related to that model will have been overcome, but that overlooks the fact the turbocharged engine represents a relatively new venture for Ferrari.

Yes, a version of it is already installed in the Ferrari California T, but the engine’s still young. You have the reassurance that Ferrari’s engineering prowess and racing knowhow gives it a head start, but VOSA’s vehicle recall records illustrate that the 488 has been subjected to one recall already to modify low-pressure fuel pipes to negate a potential fire risk.

Such is the specialist nature of the 488 that it’s strongly recommended that you use Ferrari’s extended warranty and servicing packages to ensure all work carried out on your car is undertaken by those who know the model best at official outlets.

Ongoing running costs

Road tax (12 months) £475 - £580
See tax rates for all versions
Insurance group Not available
How much is it to insure?