Latest Ferrari revealed in Sydney

Time for a new car? If you've got a cool half million dollars to spare, the new Ferrari 488GTB might just be the one for you.

But you'll need to be patient as two years of orders are already filled for the V8 rear-engine sports car, which has been revealed in Sydney, boasting a 670-horse power engine that can do 0-200km/h in 8.3 seconds.

On top of the $469,888 price tag, customers average a further $65,000 with customised add-ons such as forged rims and stripes, Ferrari Australasia CEO Herbert Appleroth said.